The market for projection systems that use laser technology to project images or videos onto screens or surfaces is referred to as the "Laser Projection Systems Market." These systems are superior to conventional lamp-based projectors in a number of ways, including brightness, color accuracy, lifespan, and energy efficiency. Numerous industries, including entertainment, education, business, and retail, use laser projection systems. The market is fueled by a number of developments in projection technology, laser technology adoption, and large-scale and immersive visual experiences, as well as the growing acceptance of digital signage. Through these aspects and ongoing advancements in laser projection technology, the market is anticipated to experience significant growth in the upcoming years.
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Data Bridge Market Research analyses that the Laser Projection Systems Market is valued at USD 915.34 million in 2022, and will reach USD 2,742.14 million by 2030, growing at a CAGR of 14.70% during the forecast period of 2023 to 2030. Continuous advancements in laser technology, including improved laser diodes, scanning systems, and optical components, have enhanced the performance and reliability of laser projection systems. These advancements enable high-quality, high-resolution projection with increased brightness and color accuracy, driving the demand for laser projection systems in various industries.
Key Findings of the Study
Growing trend of home entertainment systems is expected to drive the market's growth rate
The growing trend of home entertainment systems, particularly home theaters, has fueled the adoption of laser projection systems. Consumers seek immersive and high-quality visual experiences within the comfort of their homes. Laser projection systems offer advantages such as large screen sizes, excellent image quality, vibrant colors, and long lifespan, making them ideal for creating a cinematic experience. As technology advances and prices become more affordable, laser projection systems are becoming increasingly popular in the home entertainment market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (CAD Laser Projector System and Laser Projector), Component (Hardware, Software and Services), Dimensional Type (2D and 3D), Power Range (5MW-10MW,11 MW-30 MW and Above 30MW), Technology (Augmented Reality, Light Signal and Speech Instructions and Others), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode, Others), Resolution (XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920 x 1080 pixels), 4K (4096 x 2160 pixels), Others), Application (Composite Lay-Ups, Interior Assembly, Welding, Guided Assembly, Prefabricated Construction, Picking and Assembly, Component Recognition, System Evaluation, Sequencing, and Others), End-User (Composite, Aerospace and Defense, Automotive and Heavy Equipment, Logistics, Shipbuilding and Energy, Construction and Rigging, Medical, Steel Industry, Wind Industry, Railway, Paper, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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FARO (U.S.), MET OPTIX (Australia), LAP GmbH Laser Applications (Germany), Aligned Vision (U.S.), Virtek Vision International ULC (Canada), Z-LASER GmbH (Germany), SL-Laser GmbH (Germany), Hutchinson Manufacturing. (U.S.), asphericon GmbH (Germany), Assyst Bullmer. (U.K.), Carter Products Company, Inc. (U.S.), Laserglow Technologies (Canada), Panasonic Corporation (Japan), Sony Corporation (Japan), Kvant Lasers, s.r.o. (Slovakia), Eiki International, Inc. (Japan), Canon Inc. (Japan), and LG Electronics (South Korea) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The laser projection systems market is segmented on the basis of type, component, dimensional type, power range, technology, illumination type, resolution, application, and end-user.
- On the basis of type, the global laser projection systems market has been segmented into CAD laser projection systems and laser projector system. The CAD laser projection systems segment is expected to dominate the market with a CAGR of 14.6% in the forecast period of 2023-2030 due to the computer-aided design (CAD) technology to project precise visual information, such as assembly instructions, onto work surfaces or objects.
In 2023, the CAD laser projection systems segment is expected to dominate the type segment of the market
In 2023, the CAD laser projection systems segment is expected to dominate the market owing to the project precise visual information, such as assembly instructions, onto a work surface or other objects using computer-aided design technology. CAD laser projectors enable accurate positioning, alignment, and assembly processes, enhancing productivity and efficiency in various industries with a CAGR of 14.6% in the forecast period
- On the basis of component, the global laser projection systems market has been segmented into hardware, software, and services. The hardware segment is expected to dominate the market with a CAGR of 14.3% in the forecast period of 2023-2030 due to laser light source, optical components, projectors, screens, and other physical components. These hardware components are necessary for generating and delivering the projected visuals, making them crucial for the functioning of the system.
- On the basis of dimensional type, the global laser projection systems market has been segmented into 3D and 2D. The 3D segment is expected to dominate the market with a CAGR of 14.4% in the forecast period of 2023-2030 due to projected images or videos having width, height, and depth, creating a sense of depth and realism. 3D projection is commonly used in applications where an immersive visual experience is desired, such as 3D movies, architectural visualization, and virtual reality (VR), and simulation environments.
- On the basis of power range, the global laser projection systems market has been segmented into 5MW-10MW, 11 MW-30 MW, and above 30MW. The 5MW-10MW segment is expected to dominate the market with a CAGR of 14.9% in the forecast period of 2023-2030 due to mid-sized power projects, such as small to medium-scale renewable energy installations or industrial applications that require a moderate power capacity for their operations.
- On the basis of technology, the global laser projection systems market has been segmented into augmented reality, light signal and speech instructions, and others. Augmented reality technology dominates owing to the ease of performing operation for employees. Increasing demand for the augmented reality solution in manufacturing industries for better visualization and guidance is further accelerating the segment growth with a CAGR of 14.8% in the forecast period of 2023-2030
- On the basis of illumination type, the global laser projection systems market has been segmented into laser phosphor, hybrid, RGB laser, and laser diode, others in the forecast period of 2023-2030. Laser phosphor dominates the segment owing to the high-performance projection systems and displays due to their color accuracy and efficiency.
- On the basis of resolution, the global laser projection systems market has been segmented into XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920 x 1080 pixels), 4K (4096 x 2160 pixels), others. HD (1920 x 1080 pixels) dominates due to its widespread adoption in various consumer electronics and multimedia applications, offering a balance between visual quality and affordability
- On the basis of application, the global laser projection systems market has been segmented into composite lay-ups, interior assembly, welding, guided assembly, prefabricated construction, picking and assembly, component recognition, system evaluation, sequencing, and others. The composite lay-ups segment is expected to dominate the market with a CAGR of 15.9% in the forecast period of 2023-2030 due to layering and bonding composite materials, such as fibers and resins, to create strong and lightweight structures.
In 2023, the composite lay-ups segment is expected to dominate the application segment of the market
In 2023, the composite lay-ups segment is expected to dominate the application segment of the market owing to creating strong and lightweight structures by layering and bonding materials like fibers and resins. This application is common in industries such as aerospace, automotive, and wind energy with a CAGR of 15.9% in the forecast period of 2023-2030
- On the basis of end-user, global laser projection systems market has been segmented into composite, aerospace and defense, automotive and heavy equipment, logistics, shipbuilding and energy, construction and rigging, medical, steel industry, wind industry, railway, paper and others. Composite segment is expected to dominate the market with a CAGR of 16.1% in the forecast period of 2023-2030 due to industries that extensively use composite materials, such as carbon fiber composites or fiberglass composites, in their manufacturing processes. This can include industries like aerospace, automotive, construction, sports equipment, and renewable energy.
Major Players
Data Bridge Market Research recognizes the following companies as the major laser projection systems market players in laser projection systems market are FARO (U.S.), MET OPTIX (Australia), LAP GmbH Laser Applications (Germany), Aligned Vision (U.S.), Virtek Vision International ULC (Canada), Z-LASER GmbH (Germany), SL-Laser GmbH (Germany), Hutchinson Manufacturing. (U.S.), asphericon GmbH (Germany), Assyst Bullmer. (U.K.)
Market Development
- In 2019, The EPSON EF-100B and EF-100W, the smallest 3LCD laser projectors in the world, were made by Epson in Malaysia. They have a 2000 lumen brightness and can project video up to a size of 150 inches.
- In 2019, A pico laser projector called the Nebra AnyBeam was released by Nebra. This projector, which is based on the Raspberry Pi, has features that are small, effective, and reasonably priced for producing sharp images up to 150 inches in size.
- In 2019, Virtek Vision International, a laser projector manufacturing company introduced their new projector product for the market. Company introduced new Iris 3D Laser Projection System at the CAMX 2019 offers the centralized computer through client server architecture.
Regional Analysis
Geographically, the countries covered in the laser projection systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the laser projection systems market during the forecast period 2023-2030
The Asia-Pacific region holds a dominant position in the laser projection systems market, driven by increasing demand from the education and cinema segments, particularly in India and China. The expanding education sector and rapid urbanization in these countries have led to a surge in demand for advanced audio-visual technologies in classrooms and educational institutions. Additionally, the growing cinema industry in India and China, coupled with the preference for immersive visual experiences, is fueling the adoption of laser projection systems in these markets.
North America is estimated to be the fastest-growing region in the laser projection systems market for the forecast period 2023-2030
The growth of North America in the global laser projection systems market can be attributed to two key factors. Firstly, the region benefits from advanced infrastructure, including robust digital networks and widespread availability of high-quality display technologies, which creates a conducive environment for the adoption of laser projection systems. Secondly, North America is home to major players in the industry, driving innovation, research, and development, which further strengthens the market position and growth prospects of the region.
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