The Pico Projector Market is expected to grow at a CAGR of about 10.9% over the forecast period. Due to an increase in the adoption of minimalization, the projectors have been witnessing technological advancements, resulting in the reduction of their sizes. These factors made it possible for professionals to project their data and video anywhere, on the go.
– Evolving laser technology is expected to transform the global projector market, by reducing the size of the projectors to ones that fit in hands. These projectors can also be embedded in small hand-held devices and accessories, like tablets, cameras, personal digital assistants, laptops, and smartphones.
– Pico projectors have applications in various industries. In the defense and aerospace industries, a pico projector can assist the armed forces with a 3D projection of the real-time location of enemy deployments, bunker locations, and plot charts of sea- or land-based enemies, when integrated with devices, such as HUDs.
– Moreover, with the rapid advancements in display technologies, such as 4K and 8K display panels, the image quality of the pico projectors is also expected to be upgraded. This factor is expected to augment the growth of the market. Recently, AAXA Technologies launched the 4K1, a true native 4K UHD Mini LED projector that employs premium Osram quad-cast solid-state LEDs. With a 30,000-hour LED light source, the 4K1 can operate for eight hours per day for more than 10 years, without the requirement for a change in the lamp.
– The sale of electronics is expected to be impacted significantly by COVID-19 outbreak as China is one of the major suppliers for the raw materials as well as the finished products. The industry is facing a reduction in production, disruption in supply chain, and price fluctuations. The sales of prominent electronic companies is expected to be affected in the near future which will in turn affect pico projector market.
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Key Market Trends
Technology Evolution to Drive the Market
– The major driving factor that boosts the growth of the digital light processing chipset is the sealed imaging chip and filter-free chips. Most of the digital light processing projectors have DLP chips, eliminating the chances of dust particles to enter intothe projected image. Additionally, the DLP chips operate without air filters, thus reducing the maintenance, since there is no need to clean the filter.
– Due to the new DLP chip applications, such as LED pico projectors, that fits in the palm of a human hand and has the size of the mobile phone, is expected to contribute toward the growth of the digital light processing chipset market.
– Digital light processing (DLP) uses a chip made of tiny microscopic mirrors and a spinning color wheel to create an image. This is a type of chip that is structured so that every pixel is a reflective mirror, which means anywhere from one to two (or more) million micromirrors are on each DMD, depending on the intended display resolution and how the mirror tilt speed is controlled. DLP type of projectors delivers sharp images, which do not require any filters and also offer better response time as well as 3D capabilities.
North America Occupies the Largest Market Share
– North America is one of the early adopters in terms of technology and innovations. The region has been experiencing high growth in its expenditure on consumer electronics. Due to its small design, advanced interface connectivity with Wi-Fi and HDMI, the sales of pico projectors are increasing widely in the United States and Canada.
– Moreover, the anticipated release of new applications of this technology, particularly in the field of life sciences, intelligent traffic systems, and vision-guided robotics, is expected to boost the demand for pico projectors in the region. Vast IT infrastructure in the region has boosted the market and has enhanced the vital characteristics of these projectors, like mobility and portability.
– The semiconductor companies in the region are actively seeking growth opportunities by expanding its DLP portfolio for pico projectors. Recently, Texas Instruments released its new 4K UHD DLP chipsets – DLP470TE and DLP470TP of size 17 x 24.5 mm supporting brightness levels up to 1,500 lumens with 4K resolution.
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