Proliferation of smartphones is the most significant factor, positively affecting the pico projector market in the forecast period (2015 to 2022). The high convenience and user-friendliness of these products when included with handy devices like phones, tablets, & laptops are projected to assist the market in the future.
The decreasing average sales costs of these devices should further market demand. Technological developments have led to improved pixel quality & contrast ratio. Diverse applications & easy usage of these instruments can also boost the market. Advantages in the form of sharing videos, documents, pictures, & presentations anywhere & anytime would also raise demand for the pico projector market.
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Innovative devices well-suited for WiMax, Wi-Fi, and 4G/3G technologies could catalyze expansion. The recognition of smart devices and development of ‘Internet of Things’ should open market prospects. New trends consisting of lower weight & higher efficiency further the demand & portability of these instruments. The incorporation of pico projectors in wearable electronics is anticipated to promote gaming.
This factor will fuel the market. The pico projector market is fragmented into technologies, applications, products, and geographical regions. Laser Beam Steering (LBS), Liquid Crystal on Silicon (LCoS), and Digital Light Processing (DLP) are the technologies. LCoS and DLP are conventional in nature. LBS could display significant expansion due to adoption in tablets & smartphones.
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It offers enhanced display in comparison to LCoS and DLP. Application segments of the pico projector market cover defence & aerospace, consumer electronics, medical, and education. Consumer electronics may dominate the market due to smartphones & wearable instruments. Medical and education use pico projectors for managing patients and training students respectively.
With regards to products, embedded projectors would account for maximum shares in the years ahead. This can be attributed to the proliferation of smartphones. Standalone devices should lose shares to embedded and laser ones. Regarding geographical regions, the pico projector market is dominated by North America. Europe could be propelled by ‘Bring Your Own Devices’ applications in corporate companies.
High usage of pico projectors across tablets, smartphones, and laptops in Asia Pacific would propel the region. The global market is marked by high competition, with its devices being price sensitive. Its players compete with one another based on technological developments.
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