Digital Light Processing (DLP) Projector Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Digital Light Processing (DLP) Projector Market size is estimated at USD 5.42 billion in 2023, and is expected to reach USD 7.69 billion by 2028, growing at a CAGR of 7.24% during the forecast period (2023-2028).
New York, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Light Processing (DLP) Projector Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484186/?utm_source=GNWDigital light processing (DLP) projectors use a display device that includes optical microelectromechanical technology using a digital micromirror device.
*Key Highlights*
Digital light processing (DLP) projector uses data projection technology that produces readable, clear images on screens in lit rooms. It is a display device that uses digital micromirrors on optical micro-electro-mechanical technology. DLP is a new, revolutionary way to display and project information. The key factors driving DLP projector demand are advantageous features such as durability, high contrast, reliability, reduced pixilation, and portability.
The market for projectors is predicted to grow as digital screens become more prevalent in the entertainment industry. The transition from analog to digital screens is anticipated to play a significant role in the expansion of the projector market. As more movies are released each year, the projector market is also anticipated to grow.
The digital transformation in the education sector benefits teachers, students, and other participants in the learning process. With these changes, accessibility and engagement will be improved through attractive, engaging learning. As a result, online education has become more accessible, comprehensive, and inclusive.
Due to qualities like high contrast, dependability, reduced pixilation, durability, and portability, these projectors are becoming more and more popular on the market. On the other hand, high costs and a lack of knowledge might in the future hinder the global DLP projector market.
The COVID-19 outbreak had a significant impact on the growth of the DLP projector market. The rise in demand for homes, education, and business solutions in the household and commercial sectors became one of the major factors propelling the market’s growth.
DLP Projector Market Trends
Increasing Demand of DLP Projector in the Entertainment Industry to Drive the Market
The market for projectors is predicted to grow as digital screens become more prevalent in the entertainment industry. The current transition from analog screens to digital screens is anticipated to play a significant role in the expansion of the projector market. As more movies are released each year, it is also anticipated that the projector market will grow.
Demand for DLP projectors is anticipated to rise as digital screens become more widely used in the film industry. DLP projectors are becoming more and more popular as analog screens are being replaced by digital screens. The number of movies released internationally has increased recently, further boosting the DLP projector market. In the upcoming years, DLP cinema is anticipated to expand even more. Additionally, DLP projectors with an ultra-short throw are used for small-space projections.
Business applications are driving up demand for feature-rich DLP projectors with high brightness and interactive capabilities. DLP projectors are less complicated to repair and have fewer parts. The filter-free and sealed chip design of DLP projectors results in lower maintenance costs. Additionally, due to this distinctive design, DLP projectors are successful in preventing color decay. Around the world, 3D digital projection is still in its early stages.
Due to the need for two synchronized projectors, conventional 3D projection technology is more expensive. Additionally, the markets for spectroscopes, holographic storage, and medical imaging offer opportunities for DLP projectors. When a user quickly looks away from the projected image or switches their gaze from one side of the screen to the other, the rainbow effect can occur.
Many manufacturers, though, are eager to supply DLP projectors specifically to meet the demand in the entertainment industry. For instance, Optoma USA will release its most recent 4K DLP projector in May 2022 in an effort to increase home entertainment versatility. For screens or walls larger than 300 inches, the UHD55 promises low lag gaming, daylight cinematic viewing, and comparatively easy setup. With a maximum throw resolution of 3,480 x 2,160 pixels, the UHD55 gaming and home entertainment projector can handle displays with diagonal sizes ranging from 34.1 to 302.4 inches. The new Optoma UHD55 combines top-of-the-line features to satisfy the needs of home entertainment enthusiasts while delivering image quality, performance, and functionality.
Asia Pacific is Expected to Witness Significant Growth
The Asia-Pacific digital light processing (DLP) projector market is projected to showcase significant growth during the projection period owing to the rise in digitalization in the education sector and the growing entertainment industry in the countries such as India, China, and Japan. In addition, the region is the home of leading vendors, including Sharp Corporation, BenQ Corporation, Vivitek, Panasonic Corporation, LG Electronics, and others in the market.
The rising smart classrooms in the countries and growing focus on improving the education system drive the market growth in the region. For instance, in the last decade, the Pakistani government has been making efforts to improve educational infrastructure and the higher education system. According to the government, the ‘Smart Classroom’ project under the China-Pakistan Economic Corridor (CPEC) accelerated vigorously in the country. In May 2022, under the project, a total of 100 smart classrooms will be constructed across 50 public universities in 49 cities covering all the regions of Pakistan.
Similarly, the Government of India is shifting from a traditional education system to smart classrooms. In August 2022, around 3,000 classrooms were planned to shift into digital classrooms integrated with projectors, laptops, screens, and integrators in the government schools of Telangana. Similarly, smart-class projects have been launched in various cities in India, including Ajmer, Uttarakhand, and others.
In January 2023, the Uttarakhand government launched a smart classroom project set in government schools. The government aims to reach over 11,000 schools in the state. Also, in January 2023, Huawei Technologies Co. Ltd, a China-based DLP projector provider, launched a smart classroom 2.0 solution at the education forum. The solution is integrated with intelligent edge devices, and Wi-Fi 7 provides smart teaching practices through cloud-edge interaction.
Such active efforts to promote smart classrooms will create demand for solutions such as DLP projectors in the coming years.
DLP Projector Industry Overview
The Digital Light Processing (DLP) Projector Market is fragmented with the presence of major players like Optoma, BenQ, BARCO, Acer, ViewSonic, XMIGI, Sharp, JMGO, NEC, Delta Electronics, Panasonic, InFocus, and JVC. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
September 2022 - Optoma debuted two highly anticipated series at Infocomm 2022 in Mumbai, namely the All-in-One FHDS130 Solo LED and the WUXA Laser ZU920TST. These product lines include the Optoma ZU920T and ZU920TST dura core high brightness laser projectors and the Optoma FHDS130 solo LED display.
September 2022 - Barco Technology Company signed an agreement of GBP 15 million (~USD 18.2 million) to provide projectors to the district, the Korean design company. As part of the deal, BARCO will provide G-series DLP projectors and hardware delivery of UDM and access to its Insights Management Suite for fleet management.
*Additional Benefits:*
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06484186/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001