GLOBAL 4K PROJECTOR MARKET

KEY FINDINGS

1. Digital light processing (DPL) projection technology is expected to hold the majority share in the market. LCD, LCOS, and other technologies follow closely.
2. Transmissive modes are second to reflective mediums, which have the most market share when it comes to mode of operation as they preferentially absorb ambient light of colors not used by the projectors.
3. Though North America holds the majority market as of 2018, Asia-Pacific is anticipated to grow substantially from 2019-2025.
4. Growth drivers are: increasing demand to bring 4k to large digital cinema screens, technologies to bring down the cost of 4D projectors and consumer rise for 4k video and gaming.
5. The demand for 4k projectors is fueled by the appetite for high pixel resolution images and eliminating image artifacts or noise.

INTRODUCTION

4k projectors have a considerable market impact due to their application in various settings such as auditoriums, museums, large venues, cinemas, and not until recently in classrooms. Considering 4k projectors' ability to vary viewing experiences with different projection display sizes, it has been promoted in home entertainment systems, a growing market, especially considering the impact of the COVID-19 pandemic.

MARKET DYNAMICS

As of 2018, North America constituted the largest 4k projector market, with the United States spearheading the market having a large consumer base, coupled with high-income households.

Growth in the region was propelled by demand for advanced resolution, brightness, and in-depth detail display tools and the region's technological prowess. Closely following North America, Europe frequently has set-up initiatives to upgrade and expand the 4k technologies industry.

However, on conducting a sufficient market region, 4k projector manufacturers realized the Asia-Pacific region's potential. With mammoths like India and China that constitute about 40% of the world's population, the Asia-Pacific market seems lucrative in the coming future.

COVID IMPACT ON 4K PROJECTOR MARKET

However, The COVID-19 pandemic has hit the market with a blow, puncturing the global economy and consumer trends. It has affected production directly, including demand, and created a supply chain and market disturbance.

Furthermore, as its impact on firms and financial markets has been immense, the 4k projector market is expected to slump for the year 2020 with slow recovery in the coming years. This recovery is likely to be spearheaded by the vast 4k content available on increasingly accessible streaming services.

The big players in the market are making it much easier to own a 4k project which offers full-fledged high-quality entertainment at any time of the day, unlike earlier when one had to put together an ample amount of equipment to set up the same.

RECENT DEVELOPMENTS

The market segment for 4k projectors is divided into 3 groups: Entry-level, mid-tier, and premium. Some projectors start under 500$ and those that cost as much as a new car. It is mid-tier and premium projectors that witnesses significant improvements in technology with entry-level projectors showing minimal improvements. The recent trends in the 4k projector market are as follows:

• 4k capable ultra-short-throw projects provide big screens in houses. These projectors are paired with ambient light rejecting screens(ALR) to improve the picture quality. LG has released the LG HU85LA, which is a 4k UHD, DLP ultra-short-throw projector.
• Optoma has driven the concept of bringing HDR to lower resolution projectors. Soon after, they announced 1080p projectors have HDR with no pixel shifting. These projectors accept 4k content, get the HDR data, and scale down the resolution to 1080p.
• Hybrid Log-Gamma (HGL) is a firmware/software-based form of HDR, primarily used to broadcast. Though it would still take a couple of years, projectors today come in options that support HLG. HLG format works by coding HDR and SDR information into a signal, enabling HDR-compatible projectors to display an enhanced image, far more efficient for broadcasters.
• HDR is continually being improved with tone mapping, auto-tone mapping, and other techniques. This would help projectors to do a better, brighter, less-dim job on HDR content. Epson 5050UB incorporates these improvements, making the picture quality far more vibrant than the previous discontinued model.
• When it comes to gaming, lag is of critical importance. Sony and Epson are quoting only about 27ms input lag in its recent models, while others have a significant 55ms lag input. However, 4k gaming still has not taken off in this growing segment.
• The popularity of Ambient Light Rejecting systems, as mentioned earlier, continues to swell. ALR solves the problem of grey or white rigid sitting on a wall. ALR selectively reflects light back to the audience.
• Pocket and Pico projectors are getting better, brighter, and in some cases, higher resolution. However, this market appears to be wary of how they claim brightness, resolution, and many other parameters projectors are judged by.
• Lastly, LED projectors are gaining market ground as they are stepping-up to provide solid-state performance at less than half the laser projectors' price for home use. However, most laser projectors for home use are 4k capable projectors, which equates to a higher price range.

COMPETITIVE LANDSCAPE

Asia-Pacific is envisaged to be the prominent region if not market leader with increasing 4k services and initiatives to aid the 4k projector market's rise. As of 2018, Optoma holds the world's No. 1 4k projector brand with 21.9% of the market share.

As of October 2020, BenQ had a 53% market share in India's 4k projector segment. BenQ also had a 27% market share in Asia-pacific, the middle-east and Africa in the second quarter of 2020.

COMPANIES PROFILED

• Optoma
• BenQ