Dublin, July 20, 2021 (GLOBE NEWSWIRE) -- The "Global Projection Mapping Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The projection mapping market is estimated to be worth USD 2.8 billion in 2021 and is projected to reach USD 7.9 billion by 2026, at a CAGR of 23.4%.
The increasing adoption of projection mapping for media events, rising advertising expenditures, adoption of projection mapping for medical applications and increasing demand for high-brightness projectors are some of the key factors for the growth of the projection mapping market globally.
The market for projection mapping hardware is estimated to account for the largest share in the projection mapping during the forecast period
Hardware needed for projection mapping majorly includes the projector and media server. The main component needed to carry out projection mapping is the projector. The appropriate projector for the venue is selected based on the size of the venue and the ambient light present at the venue.
For large venue applications, generally, multiple projectors are used collectively. A projection mapping application comprises many projectors used collectively with few media servers and the required software. The need for multiple projectors and media servers for one projection mapping application makes hardware to hold the highest market share of the projection mapping market.
The projection mapping market in retail is expected to witness robust growth during 2021-2026
Business owners are increasingly adopting projection mapping for retail to attract more customers to retail outlets, thereby increasing sales. A spectacular visual experience such as projection mapping in recent years has helped many retailers attract more customers and helps them to differentiate their products from those of their competitors by enabling more engaging promotional strategies.
Projection mapping market in the APAC region is expected to grow at the highest CAGR during the forecast period
The projection mapping market in APAC is projected to grow at the highest CAGR during the forecast period. Factors such as the rise in the number of media events, the presence of many key market players, and increasing investment and expenditure by governments and other organizations on technology, tourism and advertising are driving the growth of the projection mapping market in APAC.
With multiple temporary and permanent projection mapping installations for various applications like media events, venue openings, entertainment, product launches and retail, APAC is expected to witness robust growth during the forecast period.
The major players in the projection mapping market are Panasonic (Japan), Epson (Japan), BenQ (Taiwan), Barco (Belgium), Christie Digital Systems (US), Optoma Corporation (Taiwan), Digital Projection Limited (UK), NEC Display Solutions (US), Vivitek (Netherlands), ViewSonic(US), and AV Stumpfl (Austria).
Market Dynamics
Drivers
- Increasing Adoption of Projection Mapping for Media Events
- Rising Advertising Expenditure
- Adoption of Projection Mapping for Medical Applications
- Increasing Demand for High Brightness Projectors
Restraints
- Decrease in the Number of Outdoor Events Due to the Pandemic
- Projection is Less Effective Under Bright Ambient Light
- Projection Mapping Incurs High Cost
Opportunities
- Increasing Adoption of 4K and 8K Resolution
- Rising Use of Augmented and Virtual Reality
- Increasing 3D and 4D Content
Challenges
- Lack of Awareness and Knowledge About Projection Mapping
- Projection Mapping is a Complex Procedure
Industry Trends
Value Chain Analysis
- Pricing Analysis: Average Selling Price Trends
- List of Key Patents and Innovations
Key Technology Trends
- Real-Time Tracking and Projection Mapping
- Spatial Augmented Reality
- Projection Mapping in 4K
- Medical Image Projection Systems
Case Studies
- Immersive Van Gogh Exhibit
- Becoming Japanese Art-Round Two
- Projection Mapping at Kunstareal
- Frieze Los Angeles and La Phil Centennial
- Mapping the Moment: Astral Projekt
- Revitalizing Roshen Factory
- Vibrancy Initiative at St. Edward's University
- Xpark Aquarium
Trade Data
Regulatory Framework
- Swedish Confederation of Professional Employees (Tco) Certification
- Laser Regulations
Projection Mapping Ecosystem
Company Profiles
Key Players
- Panasonic
- Seiko Epson Corporation
- BenQ
- Belgian American Radio Corporation (Barco)
- Christie Digital Systems
- Optoma Corporation
- Digital Projection Limited
- NEC Display Solutions
- Vivitek
- Viewsonic
- AV Stumpfl
Other Key Players
- Nuformer
- InFocus
- Sony
- Adobe
- Resolume
- Garagecube
- Green Hippo
- Blue Pony
- Lumitrix
- HeavyM
- Pixel Rain Digital
- Lightform, Inc.
- Vioso
- Disguise
- Proietta
- Showtech Productions
For more information about this report visit https://www.researchandmarkets.com/r/pu26yq