DUBLIN–(BUSINESS WIRE)–The “Global Projection Mapping Market – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The projection mapping market is estimated to be worth USD 2.8 billion in 2021 and is projected to reach USD 7.9 billion by 2026, at a CAGR of 23.4%.
The increasing adoption of projection mapping for media events, rising advertising expenditures, adoption of projection mapping for medical applications and increasing demand for high-brightness projectors are some of the key factors for the growth of the projection mapping market globally.
The market for projection mapping hardware is estimated to account for the largest share in the projection mapping during the forecast period
Hardware needed for projection mapping majorly includes the projector and media server. The main component needed to carry out projection mapping is the projector. The appropriate projector for the venue is selected based on the size of the venue and the ambient light present at the venue.
For large venue applications, generally, multiple projectors are used collectively. A projection mapping application comprises many projectors used collectively with few media servers and the required software. The need for multiple projectors and media servers for one projection mapping application makes hardware to hold the highest market share of the projection mapping market.
The projection mapping market in retail is expected to witness robust growth during 2021-2026
Business owners are increasingly adopting projection mapping for retail to attract more customers to retail outlets, thereby increasing sales. A spectacular visual experience such as projection mapping in recent years has helped many retailers attract more customers and helps them to differentiate their products from those of their competitors by enabling more engaging promotional strategies.
Projection mapping market in the APAC region is expected to grow at the highest CAGR during the forecast period
The projection mapping market in APAC is projected to grow at the highest CAGR during the forecast period. Factors such as the rise in the number of media events, the presence of many key market players, and increasing investment and expenditure by governments and other organizations on technology, tourism and advertising are driving the growth of the projection mapping market in APAC.
With multiple temporary and permanent projection mapping installations for various applications like media events, venue openings, entertainment, product launches and retail, APAC is expected to witness robust growth during the forecast period.
The major players in the projection mapping market are Panasonic (Japan), Epson (Japan), BenQ (Taiwan), Barco (Belgium), Christie Digital Systems (US), Optoma Corporation (Taiwan), Digital Projection Limited (UK), NEC Display Solutions (US), Vivitek (Netherlands), ViewSonic(US), and AV Stumpfl (Austria).
Market Dynamics
Drivers
Increasing Adoption of Projection Mapping for Media Events
Rising Advertising Expenditure
Adoption of Projection Mapping for Medical Applications
Increasing Demand for High Brightness Projectors
Restraints
Decrease in the Number of Outdoor Events Due to the Pandemic
Projection is Less Effective Under Bright Ambient Light
Projection Mapping Incurs High Cost
Opportunities
Increasing Adoption of 4K and 8K Resolution
Rising Use of Augmented and Virtual Reality
Increasing 3D and 4D Content
Challenges
Lack of Awareness and Knowledge About Projection Mapping
Projection Mapping is a Complex Procedure
Industry Trends
Value Chain Analysis
Pricing Analysis: Average Selling Price Trends
List of Key Patents and Innovations
Key Technology Trends
Real-Time Tracking and Projection Mapping
Spatial Augmented Reality
Projection Mapping in 4K
Medical Image Projection Systems
Case Studies
Immersive Van Gogh Exhibit
Becoming Japanese Art-Round Two
Projection Mapping at Kunstareal
Frieze Los Angeles and La Phil Centennial
Mapping the Moment: Astral Projekt
Revitalizing Roshen Factory
Vibrancy Initiative at St. Edward’s University
Xpark Aquarium
Trade Data
Regulatory Framework
Swedish Confederation of Professional Employees (Tco) Certification
Laser Regulations
Projection Mapping Ecosystem
Company Profiles
Key Players
Panasonic
Seiko Epson Corporation
BenQ
Belgian American Radio Corporation (Barco)
Christie Digital Systems
Optoma Corporation
Digital Projection Limited
NEC Display Solutions
Vivitek
Viewsonic
AV Stumpfl
Other Key Players
Nuformer
InFocus
Sony
Adobe
Resolume
Garagecube
Green Hippo
Blue Pony
Lumitrix
HeavyM
Pixel Rain Digital
Lightform, Inc.
Vioso
Disguise
Proietta
Showtech Productions
For more information about this report visit https://www.researchandmarkets.com/r/o8pt2j