The Asia Pacific Projection Mapping Market would witness market growth of 22.2% CAGR during the forecast period (2021-2027).
The combination of AR and VR along with the projection mapping can help the companies in creating robust brand value, hence streamlining a better reach and extremely interactive campaigns. With the help of AR and projection mapping, pleasant landmarks can be transformed into brand experiences. For example, tourism companies were among the first to deploy AR and VR as it is a fine way for consumers to experience their dream destinations. Automotive organizations have also begun to use VR and AR to develop an experience in order to cater to the ever-changing preferences of their target audiences. Therefore, the development in the projection mapping market can be improved by incorporating the technique with technologies like AR, mixed reality, or VR.
In the last decade, projection mapping has witnessed a massive deployment rate around the globe significantly because of its easy incorporation of the physical and virtual world by superimposing computer-created graphics onto real surfaces which are not similar to the conventional augmentation technologies like VR in that it enables a majority of the users to have a first-hand experience of the augmentation without the help of peripheral like glasses. The technical challenges of the conventional projector hardware such as depth-of-depth, dynamic range, spatial resolution, latency, and color gamut make it hard to display required appearances in desired visual quality even with the application of computational algorithms has started the adoption of projection mapping.
The Asia Pacific region would showcase a higher growth rate during the forecast period. This is due to the fact that the region is conducting various key global events, the existence of historical museums, and government bodies putting high focus on tourism as a revenue contributor is boosting the growth of the regional market. The nations in the region like Singapore are home to key festivals, events like the annual Singapore night festival, iLight marina bay, annual marina bay that depends on technologies like projection mapping are harnessing the development of the market in the region. India which is slowly becoming the leader in the tourism sector had created the statue of unity which is considered as the tallest statue standing in the world at the height of 182 meters. As of Jan 2020, approximately 91 lakhs tourist had visited since its inception and has collected around INR 85 crores from entrance fees has deployed projection mapping technology with an aim to improve tourist attraction and engagement.
The China market dominated the Asia Pacific 3,500-10,000 Lumens Projection Mapping Market by Country 2020, thereby, achieving a market value of $156.3 million by 2027. The Japan market is showcasing a CAGR of 22.5% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 23.9% during (2021 - 2027).
Based on Throw Distance, the market is segmented into Standard Throw and Short Throw. Based on Dimension, the market is segmented into 2D, 3D and 4D. Based on Brightness, the market is segmented into 10,000-30,000 Lumens, 3,500-10,000 Lumens and Above 30,000 Lumens. Based on Offering, the market is segmented into Hardware and Software. Based on Application, the market is segmented into Media Events, Entertainment, Venue Openings & Product Launches, Retail, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Projection Mapping Market is Projected to reach USD 8.4 Billion by 2027, at a CAGR of 20.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Corporation, Seiko Epson Corporation, NEC Corporation, Delta Electronics, Inc. (Vivitek), Coretronic Corporation (Optoma Corporation), Digital Projection Limited, Qisda Corporation (BenQ), Barco NV, Ushio, Inc., and ViewSonic Corporation.
By Throw Distance
By Dimension
By Brightness
By Offering
By Application
By Country
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