Pune, India, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The advanced cinema projector for residential applications is constantly gaining popularity in the market as customers are curious to have high-quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as home theater applications. This new projector provides high resolution and high picture quality for customers to watch movies and shows on the screen at home.
Advanced Cinema Projector Market in terms of revenue was estimated to be worth $1.10069 billion in 2021 and is poised to reach $1.86133 billion by 2028, growing at a CAGR of 7.8% from 2021 to 2028 according to a new report published by The Insight Partners.
Rising adoption of advanced cinema projectors across the residential sector globally and accentuating demand for advanced cinema projectors in commercial applications are driving the growth of the advanced cinema projector market.
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Global Advanced Cinema Projector Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.10069 Billion in 2021 |
| Market Size Value by | USD 1.86133 Billion by 2028 |
| Growth rate | CAGR of 7.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | By Illumination Source, Resolution, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
With the installation of high-quality projector, projector screen and audio equipment, the customer can have an entertainment setup at home which is comparable to cinema halls/theaters. A few of the prominent projector brands used for home theaters are Sony Corporation, Epson, Optoma, Viewsonic Panasonic, JVC, and BenQ. The growing interest toward the adoption of advanced cinema projector for residential application is expected to drive the Advanced Cinema Projector Market during the forecast period.
Rising Adoption of Advanced Cinema Projectors across Residential Sector Globally to Drive Advanced Cinema Projector Market Growth During Forecast Period
The advanced cinema projector for residential application is constantly gaining popularity in the Advanced Cinema Projector Market as customers are curious to have high quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as a home theater application. Also, lockdowns initiated by the governments to prevent the spread of COVID-19 has further propelled the demand for advanced cinema projectors. As a result, the customers are purchasing new home entertainment products such as advanced cinema projectors to enjoy their time indoors amid the pandemic. For instance, in September 2020, BenQ introduced new BenQ TH585, a Full HD Home entertainment projector, in India. This new projector provides high resolution and high picture quality for customers to watch movies and shows on the screen at home.
With the installation of high-quality projector, projector screen and audio equipment, the customer can have an entertainment setup at home which is comparable to cinema halls/theaters. A few of the prominent projector brands used for home theaters are Sony Corporation, Epson, Optoma, Viewsonic Panasonic, JVC, and BenQ. The growing interest toward the adoption of advanced cinema projector for residential application is expected to drive the Advanced Cinema Projector Market during the forecast period.
Advanced Cinema Projector Market: Segmental Overview
Based on illumination source, the advanced cinema projector market is bifurcated into Lamp and RGB Pure Laser. The RGB pure laser segment led the market in 2020. The lamp cinema projectors are manufactured with the ultimate precision by integrating the most advanced technologies and techniques. These lamp projectors are precisely tested to check that they ignite accurately with all the electrical characteristics that meet all the standard and specifications. During the time of manufacturing, 100% inspections are being done at multiple stages to guarantee that the ultimate quality is offered to the customer. Additionally, the advanced vision systems are integrated with the lamp projectors to offer active operator feedback and ensure comprehensive uniformity. Therefore, extensive training and certification is mandatory for all the operators to operate digital cinema lamps. A few of the market players offering lamp projectors are Delta Electronics, Inc.; InFocus Corporation; and Panasonic Corporation.
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Advanced Cinema Projector Market: Competition Landscape and Key Developments
Barco NV; BENQ Corporation; Christie Digital; Delta Electronics, Inc.; Hitachi Ltd.; Infocus Corporation; LG Electronics Inc.; Optoma Corporation (Coretronic Corporation); Panasonic Corporation; and Sharp Corporation are among the key players that were profiled during Advanced Cinema Projector Market study. The market players are adopting strategies such as product developments, partnerships, mergers and acquisitions, and collaborations for sustaining the competitive edge.
Advanced Cinema Projector Market – Key Market Dynamics
Drivers
- Rising Adoption of Advanced Cinema Projectors Across Residential Sector Globally
- Accentuating Demand for Advanced Cinema Projectors in Commercial Applications
Restraints
- High Upfront Cost of Laser Projectors to Hamper Market Growth in Developing Countries
Opportunities
- Emphasis on Development of Next Generation Cinema Projectors
Future Trends
- Growing Adoption of 3D Advanced Projectors
Recent Developments:
In 2021, Cinionic (Barco NV) entered a partnership with Cine Colombia. The deal is a culmination of ongoing support by Cinionic for Cine Colombia, the largest exhibitor in Colombia, with 339 cinema screens across 46 locations.
In 2021, Sharp NEC Display Solutions Ltd. launched a new NEC NC1802ML, an 18,000-lumen digital cinema projector. It is available with replaceable laser modules.
Go through further research published by The Insight Partners:
Portable Projector Market - Global Analysis and Forecast to 2030.
Pico Projector Market - Global Analysis and Forecast to 2030.
DLP Projector Market - Global Analysis and Forecast to 2030.
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