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The global pico projector market is growing with a significant rate, due to increasing application areas along with decreasing average selling price, introduction of high definition pico projector and integration of pico projector in portable consumer electronics. The development of head-up display is also supporting the growth of the global market. Also, the addition of pico projectors in wearable electronics is driving the growth of the global market. The advancements in consumer electronics are providing ample growth opportunities for the global pico projector market. The safety issues with laser beam steering based pico projector, and low brightness offered by LED-based projector are two of the major factors, restraining the growth of the global market.
The compatibility and portability of pico projectors with 3G/4G, WiMax and Wi-Fi technologies is supporting the growth of the global market. Additionally, the increasing consumer disposable income and strong economic growth are expected to drive the growth of the global market in the automobiles and consumer electronics applications. The advent of Internet of Things and growing adoption of smart devices is also expected to support the growth of global market in the coming years. Some of the policies, such as Bring Your Own Device in the corporate sector are increasing the demand of pico projectors globally.
Among the various regions, North America led the global market in 2014 and is also expected to maintain its dominance in the coming years. The dominance of the region is due to early technology adopters in the region, which ensures the faster adoption of projectors. The Asia-Pacific market is expected to grow with the highest rate, due to growing demand for portable consumer electronics and increasing consumer disposable income in the region.
Among the various types, the embedded projector segment led the global market in 2014 and is also expected to grow with the fastest rate during the forecast period. This is due to widespread usage of projectors in portable consumer electronics. Additionally, the smartphone proliferation is also supporting the high growth of embedded projector segment in the global market. The USB projector segment is also expected to grow with a considerable rate in the coming years. This is due to the growing demand of USB projector across various application areas, such as consumer electronics, aerospace and defense, healthcare, business and education, and automotive. The standalone segment is expected to lose its share in the coming years, due to issues such as high cost and low brightness associated with these devices.
Among the various technologies, the laser beam steering segment is expected to grow with the highest rate in the coming years, due to various benefits offered by the technology, such as high brightness and better image quality, which results in enhanced customer experience. Majorly, liquid crystal on silicon and digital light processing technologies are used in pico projectors. The advancement in technology is leading to focused, high contrast and quality images, in comparison to traditional display sources. Among the various applications, the consumer electronics segment led the global market in 2014, due to widespread usage in the wearable gadgets.
Some of the competitors in the global market are Microvision Inc., AIPTEK International Inc., Aaxa Technologies Inc., STMicroelectronics NV, Coretronic Corp., Sony Corporation, Texas Instruments Inc., and Syndiant Inc.
Global Pico Projector Market Segmentation