Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Global Projection Mapping Market By Throw Distance, By Dimension, By Brightness, By Offering, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
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.
COVID-19 Impact
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 is expected to 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.
Throw Distance Outlook
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).
Dimension Outlook
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 is expected to showcase highest CAGR of 26.6% during (2021 - 2027).
Brightness Outlook
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.
Offering Outlook
Based on Offering, the market is segmented into Hardware and Software. The projection mapping software market is expected to 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.
Application Outlook
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 is expected to showcase a similar trend even during the forecast period. The market of projection mapping is expected to 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.
Regional Outlook
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.
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.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Jan - 2021, May) Leading Players
Chapter 4. Global Projection Mapping Market by Throw Distance
4.1 Global Projection Mapping Standard Throw Market by Region
4.2 Global Projection Mapping Short Throw Market by Region
Chapter 5. Global Projection Mapping Market by Dimension
5.1 Global Projection Mapping 2D Market by Region
5.2 Global Projection Mapping 3D Market by Region
5.3 Global Projection Mapping 4D Market by Region
Chapter 6. Global Projection Mapping Market by Brightness
6.1 Global 10,000-30,000 Lumens Projection Mapping Market by Region
6.2 Global 3,500-10,000 Lumens Projection Mapping Market by Region
6.3 Global Above 30,000 Lumens Projection Mapping Market by Region
Chapter 7. Global Projection Mapping Market by Offering
7.1 Global Hardware Projection Mapping Market by Region
7.2 Global Software Projection Mapping Market by Region
Chapter 8. Global Projection Mapping Market by Application
8.1 Global Media Events Projection Mapping Market by Region
8.2 Global Entertainment Projection Mapping Market by Region
8.3 Global Venue Openings & Product Launches Projection Mapping Market by Region
8.4 Global Retail Projection Mapping Market by Region
8.5 Global Others Projection Mapping Market by Region
Chapter 9. Global Projection Mapping Market by Region
Chapter 10. Company Profiles
10.1 Panasonic Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Product Launches and Product Expansions:
10.1.6 SWOT Analysis
10.2 Seiko Epson Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.1 Recent strategies and developments:
10.2.1.1 Product Launches and Product Expansions:
10.2.1.2 Partnerships, Collaborations, and Agreements:
10.3 NEC Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments:
10.3.5.1 Product Launches and Product Expansions:
10.4 Delta Electronics, Inc. (Vivitek)
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 Recent strategies and developments:
10.4.5.1 Product Launches and Product Expansions:
10.5 Coretronic Corporation (Optoma Corporation)
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Product Launches and Product Expansions:
10.6 Digital Projection Limited
10.6.1 Company Overview
10.7 Qisda Corporation (BenQ)
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.5.2 Product Launches and Product Expansions:
10.8 Barco NV
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments:
10.8.5.1 Product Launches and Product Expansions:
10.8.5.2 Partnerships, Collaborations, and Agreements:
10.9 Ushio, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Research & Development Expense
10.9.5 Recent strategies and developments:
10.9.5.1 Product Launches and Product Expansions:
10.10. ViewSonic Corporation
10.10.1 Company Overview
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