The Global Projection Mapping Market size is expected to reach $8.4 billion by 2027, rising at a market growth of 20.1% CAGR during the forecast period.
Projection mapping refers to a projection technology that is utilized to rotate an area or an object (frequently irregularly shaped) into a feasible surface for animation, video or other colorful displays to be projected. The objects or areas that are utilized for projection mapping can include small indoor objects to areas like big theatrical stages or industrial landscapes or buildings. The projection mapping market is constantly rising owing to the massive utilization of technology in an application like advertising and film. Projection mapping can be performed in 2-D, 3-D, and 4-D and can be installed in various areas.
The growing developments in the Projection Mapping Market have resulted in various factors that are boosting the market like higher customer satisfaction and a surge in the adoption of the technology in several industries. Aspects like the absence of awareness about the projection mapping, the cost of the technology which is needed to perform the projection mapping, and scarcity of personnel that holds expertise regarding the appropriate operation of the projection mapping technology is acting as a barrier to the growth of the market.
Some of the major aspects which are crucial for choosing the projector appropriate for the application are the size of the venue, throw distance, and the ambient lighting at the venue. The light processing elements in a projector comprises a projector lamp that identifies the brightness provided and the color wheel which controls the color output. Technically, more brightness can be generated with the help of a higher wattage lamp.
While choosing a projector, brightness is considered as a major & crucial specification. It is displayed in lumens or ANSI lumens. Lumens estimate the strength of the light source in the projectors. Projectors for auditoriums or large venues start at 7,000 lumens; however, if the venue is extremely big or brightly lit, projectors with 25,000 lumens or higher might be required. Some of the industry professionals have noted that for big screens or canvases, projectors approximately 75,000 lumens are the most suitable as implementing one projector is quite easy to install and align many according to the requirements, decreasing the possibilities of failure.
Owing to the outbreak of the COVID-19 pandemic, stringent lockdown and stay-at-home norms have been imposed in the majority of the countries around the world, and several events that consist of huge crowd gathering had been revoked or deferred till the situation gets better. The projection mapping market has observed a slight drop in the first three-quarters of FY 20-21 and several leading players of the projection mapping market like Barco (Belgium), Panasonic (Japan), and Epson (Japan) have witnessed a decline in their activities during this period. Though, the market has also experienced a gradual recovery in the last quarter of FY 20-21.
The projection mapping market is experiencing lucrative growth possibilities for indoor applications and smaller events and technologies like spatial augmented reality and projected AR is being highly utilized to streamline projection mapping while following social distancing. The projection mapping market would witness recovery in 2021 owing to the gradual increment in the number of medical events and sporting events around the globe and a surge in advertising expenses around the globe.
Based on Throw Distance, the market is segmented into Standard Throw and Short Throw. The Standard Throw market dominated the Global Projection Mapping Market by Throw Distance 2020, growing at a CAGR of 19.1 % during the forecast period. The Short Throw market is expected to witness a CAGR of 23% during (2021 - 2027).
Based on Dimension, the market is segmented into 2D, 3D and 4D. The 2D market dominated the Global Projection Mapping Market by Dimension 2020, growing at a CAGR of 19.4 % during the forecast period. The 3D market is experiencing a CAGR of 20.6% during (2021 - 2027). Additionally, The 4D market would showcase highest CAGR of 26.6% during (2021 - 2027).
Based on Brightness, the market is segmented into 10,000-30,000 Lumens, 3,500-10,000 Lumens and Above 30,000 Lumens. The projection mapping market for projectors with brightness above 30,000 lumens is expected to witness the maximum growth rate throughout the forecast years.
Based on Offering, the market is segmented into Hardware and Software. The projection mapping software market would witness the maximum growth rate throughout the forecast period. Projection mapping is commonly utilized in big venue applications with a high amount of crowd gatherings like media events and entertainment. Though, small and medium-sized venue applications are highly adopting projection mapping in the last few years.
Based on Application, the market is segmented into Media Events, Entertainment, Venue Openings & Product Launches, Retail, and Others. Media events obtained the maximum revenue share of the global projection mapping market in 2020 and would showcase a similar trend even during the forecast period. The market of projection mapping would witness bright growth prospects due to the growing number of media events and sporting events around the globe. Projection mapping is being highly utilized in the launch event and half-time shows of large sporting events and at venues such as auditoriums and places with huge crowd gatherings to improve the visual experience and simplify high audience engagement.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 2.2 Billion |
| Market size forecast in 2027 | USD 8.4 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 20.1% from 2021 to 2027 |
| Number of Pages | 291 |
| Number of Tables | 532 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Throw Distance, Dimension, Brightness, Offering, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America garnered the highest revenue share of the global projection mapping market. The increasing number of media events, the existence of leading companies that make or develop the devices and software required for projection mapping, and the existence of several technologically developed nations that are adopting projection mapping for various applications are acting as catalysts for the growth of the regional market.
Free Valuable Insights: Global Projection Mapping Market size to reach USD 8.4 Billion by 2027
The major strategies followed by the market participants are product launches. Based on the Analysis presented in the Cardinal matrix; NEC Corporation, Panasonic Corporation, and Delta Electronics, Inc. are the forerunners in the Projection Mapping Market. Companies such as Ushio, Inc., Qisda Corporation, and Barco NV are some of the key innovators in the market.
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 Geography
The projection mapping market size is projected to reach USD 8.4 billion by 2027.
Massive demand from the consumer is set to fuel the market are driving the market in coming years, however, Increasing utilization of virtual and augmented reality have limited the growth of the market.
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.
Several leading players of the projection mapping market like Barco (Belgium), Panasonic (Japan), and Epson (Japan) have witnessed a decline in their activities during this period. Though, the market has also experienced a gradual recovery in the last quarter of FY 20-21.
2D projection mapping would procure the highest revenue share of the global projection mapping market throughout the forecast period.
The North America market dominated the Global Projection Mapping Market by Region 2020.
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