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“The projection mapping market estimated to grow at a CAGR of 21.10% between 2018 and 2023”
The overall projection mapping market is estimated at USD 1.37 billion in 2018 and is expected to reach USD 3.56 billion by 2023, at a CAGR of 21.10% between 2018 and 2023.
The market growth is attributed to the growing adoption of projection mapping in media events over the last few years and growing investment in product advertising. The growing availability of 3D and 4D content and increasing use of augmented and virtual reality are expected to boost the projection mapping market by creating opportunities during the forecast period. High cost of using projection mapping technique compared to traditional techniques is acting as a major restraint for the projection mapping market. Lack of awareness and knowledge about the projection mapping technology is acting as a major challenge for the growth of the projection mapping market.
“Large venue applications are expected to grow at the highest rate during the forecast period”
Large venues mainly imply museums, houses of worship, and large amusement and theme parks. There is a growing demand for projection mapping in theme and amusement parks across the world. Many amusement and theme parks are expected to be opened in the coming years (2018–2020). Demand for projection mapping is, thus, expected to grow in future. Projection mapping is also being used in museums to create 3D environment with visual effects.
“Projection mapping market in the Americas is expected to hold the largest market size during the forecast period”
The Americas is among the important markets for projection mapping. It is one of the early adopters of projection mapping technique. The projection mapping market in North America is estimated to grow considerably in the coming years since North America is major hub for corporate events, shows and sports events.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people.
The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
- By Designation: Directors – 50%, Managers – 20%, Vice President –25%, and Others – 5%
- By Region: North Americas – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
Companies that can provide low-cost end-to-end solutions for projection mapping is expected to emerge as game changers as the overall cost of projection mapping is one of the major restraining factors for the growth of projection mapping.
Major companies covered in the projection mapping report are Panasonic Corporation (Japan), Seiko Epson Corporation (Japan), Barco NV (Belgium), Christie Digital Systems (US), and BenQ Corporation (Taiwan). The report also includes companies such as Digital Projection (UK), Optoma Corporation (US), NEC Display Solutions (Japan), Vivitek (Taiwan), Green Hippo (UK), AV STUMPFL (Australia), Resolume (the Netherlands), HeavyM (UK), GarageCube (Switzerland), Bluepony (US), Lumitrix (Czech Republic), ViewSonic (US) and NuFormer (the Netherlands).
- In terms of offering:Hardware (projector, media server), and software
- In terms of dimension:2D, 3D, and 4D
- In terms of throw distance Standard throw, short throw)
- In terms of application (Events, festival, large venue, retail & entertainment, and others (simulation, auditorium, and universities)
- In terms of geography:North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) (South America, Middle East and Africa)
Reasons To buy this report:
From an insight perspective, this report has focused on various levels of analysis?industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles that discuss basic views on the competitive landscape, emerging and high-growth segments of the projection mapping market, and high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on projection mapping related products offered by top players in the overall projection mapping market
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and product launches in the projection mapping market
- Market development: Comprehensive information about lucrative emerging markets?the report analyzes the markets for projection mapping across regions
- Market diversification: Exhaustive information about untapped geographies, recent developments, and investments in the overall projection mapping market
- Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of leading players in the projection mapping market