A projector is a very handy tool when it comes to presentations. A format that witnesses an informational medium being ‘projected’ onto a screen, the projector is widely used in the education sector, across corporate board rooms and strategic war-rooms. Per the expert market research report churned out by Technavio, the global projector market is indeed lighting up- speculated to grow at a healthy CAGR in excess of 9% (2016-21) and be worth USD 16.66 Billion by the end of 2021. Read Report
The global projector market has exuded a confident picture in recent times, thanks in part to new innovations and consequently, the improved adoption of projectors across several functional disciplines. Amongst the principal drivers of this market are the incrementing usage of projectors in corporate offices and the government’s improved spending on the education sector, ergo, competent projection technology is commonly seen in most classrooms. Productive technology such as Liquid Crystal on Silicon (LCoS) projectors- offering high resolution (upto 4096 x 2160 in Sony and JVC projectors), improved black level effect and upto 120 Hz to dramatically improve the output- are rapidly changing the projection game and tapping into newer markets.
Challenges- Competition Galore for Projectors
- Projectors are getting increasingly complicated, yet the fundamental light source at the heart of these systems is sadly rudimentary. Lamps burn out, and the replacement of these specialized lamps amount to about USD 1,000 for a pack of four. Provided the projectors are operated for 3-6 hours per day, over a span of five years.
- Interactive Whiteboards (IWBs) are more popular and already have a massive lead over the projectors. IWBs may be costly, however, their effectiveness cannot be negated.
Note the dominance of IWBs through 2012-15. Source- Technavio
- Large area display that are usually seen in notebooks, tablets and ultra-high definition televisions are quite popular too. These are touted to be quite a dominant competition to projector technology through the next five years.
- One-on-one Learning is a novice teaching methodology wherein educators pay individual attention to students and offer them customized learning solutions that are expected to benefit the students better. This trend is vastly picking up and generally uses handheld devices, laptops and desktops to facilitate in the teaching. Quite obviously, projector devices lose out on situations wherein a class-wide audience is replaced by one-on-one learning.
Projectors are easy to operate, offer immense value and yet, their productivity is majorly determined by the light source that is integrated into them. When not used as recommended, the projector may malfunction and lose effectiveness. If the light source is damaged, most end-users are reluctant to replace the same and would rather purchase a new device instead. This is an accountable and long term option, but it also puts these potential customers in line with the latest innovations flooding the market- and prompts them to choose from an array of options that are competing with the projector systems.
The value of a projector is squarely determined by the life of the light source. That’s bad betting odds.
Here Comes the Cavalry- Interactive Projectors Lead the Fightback
The global projector market is fighting back though. Borrowing a page from the competing Interactive Whiteboards (IWBs), the era of Interactive Projectors is picking up steam. Herein, the tethered computer’s display can be projected on any surface and the user controls the projection through his/her fingers, pen or stylus. Neat, and definitely appealing to the millennials.
Another manifestation of the Interactive Projector concept is the Short Throw or Ultra Short Throw projectors that are characterized by short screen distances (say, 1-1.5 feet) and immense applicability in a cozy classroom setup. It looks like the projector market is fighting back by exploiting the shortcomings of its competition, as portable interactive projectors for kids– a medium for games, information and entertainment for the youngsters- is getting a lot of positive attention. The global projector market is adapting to the incremental changes by reinventing itself and opening up new customer segments, the true hallmark of a persevering industry.
Trust Technavio to Have your Back,
At Technavio, our expert market research analysts have been tracking the ups-and-downs of the projector market for quite a while. Their findings, insights and projection for the next five years (2017-2021) can be sourced from the exhaustive market research report that is available for download from the Technavio website. You can customize this report in line with your requirements and source an individualized marketing strategy, right out of the box.
