North America Laser Projection Systems Market – Industry Trends and Forecast to 2030

 North America Laser Projection Systems Market Analysis and Size

The laser projection systems market is expected to witness significant growth during the forecast period due to increasing adoption of laser projector system. The laser projector systems are used in several applications such as houses of worship, museums, boardrooms, classrooms and location-based entertainment. The enterprise segment is the fastest growing end-user segment due to increasing need for supplementary information at public administrations, meetings, government sectors, and others. 

Data Bridge Market Research analyses that the laser projection systems market was valued at USD 259.94 million in 2022 and is expected to reach the value of USD 795.16 million by 2030, at a CAGR of 15.00% during the forecast period. 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.

North America Laser Projection Systems Market Scope and Segmentation

Market Definition

Laser Projection is a device that creates changing laser beams on display to give a moving image for entertainment usage. It includes covers lasers, galvanometer scanners, mirrors, and other optical components, including high brightness, a durable laser light source, and others. Numerous industries, public spaces, movie theatres, and educational institutions use laser projection regularly. The term "laser projection" describes the visuals and animations shown on projection surfaces using a laser display. A show laser system uses galvanometer scanners to move the laser beam quickly enough for an observer to see an animated laser image when the projection is on.

Laser Projection Systems Market Dynamics

Drivers

• Increasing demand of laser projection systems due to unique properties

The market is primarily driven by the expanding use of laser projection technology across a variety of industries and lower maintenance costs. These laser projectors don't need much cooling and can function at low temperatures. The market for laser projectors is expanding as a result of the advantages that laser projectors have over lamp-based projectors, such as their long lifespan (up to more than 10 years), reduced power consumption and heat production, high contrast, brighter, and clearer images. Therefore, these are preferred in a number of industries, including business, film, education, and retail.

• Advantages of laser projection systems

Laser-based projection system offers greater colour and contrast, longer-lasting brightness, and less maintenance than other lamp-based models. Today's projectors use solid-state lasers, which are incredibly bright, have wider colour gamuts, deep black levels, and never need a lamp replacement. As of this, the demand for the laser projection system has increases, which is expected to drive the market's growth rate.

 Opportunities

• High usage of laser projector

Laser projectors are employed in various fields, including business, education, film, public spaces, and retail. Enterprises have a significant need for laser projectors. A growing number of people are using laser projectors because of their high picture quality, low power requirements, and low maintenance costs. High-brightness projectors are becoming more and more necessary in cinemas across the world as the number of digital cinema screens rises.

Moreover, during the forecast period, there should be significant growth opportunities in the market due to the rising demand for RGB laser projectors in theatres and for high-brightness projectors.

Restraints

• Issues  associated with laser projection systems market

As a result of technological advancement, laser projectors are more expensive. The usage of lumen determines the laser projector's cost. The cost increases with increasing lumen cost. Moreover, the market for laser projection systems is currently experiencing a significant restraint due to the growing development of alternative solutions as well as the continued dominance of traditional projection techniques based on drawings.

This laser projection systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the laser projection systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Laser Projection Systems Market

A laser projector is a tool that uses projected laser beams to create moving images on a screen. The leisure and educational sectors use these projectors the most. In March 2020, the World Health Organization (WHO) designated COVID-19 to be a pandemic due to its widespread incidence. Governments have implemented lockdowns everywhere to stop the virus's spread. Due to this circumstance, businesses and manufacturing sectors are shut down, while schools, universities, theatres, and all other public spaces are temporarily closed.

The demand for laser projectors falls as a result of the closure of the cinema and educational sectors, which affects the use of laser projectors. So, we can conclude that the pandemic crisis had a negative impact on the products on the laser projector market. However, during the lockdown, individuals staying in their homes use laser projectors to watch movies, and businesses, schools cause the quick acceleration of the laser projector market growth, and theatres reopen.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

North America Laser Projection Systems Market Scope

The laser projection systems market is segmented based on the type, component, dimensional type, power range, technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• CAD Laser Projector Systems
• Laser Projector System

Component

• Hardware
• Software

Dimensional Type

• 2D
• 3D

Power Range

• 5MW-10M
• 11 MW-30 MW
• Above 30MW

Technology

• Augmented Reality
• Light Signal and Speech Instructions
• Others

Application

• Composite Lay-Ups
• Interior Assembly
• Welding, Guided Assembly
• Prefabricated Construction
• Picking & Assembly
• Component Recognition
• System Evaluation
• Sequencing
• Others

End-User

• Composite
• Aerospace & Defense
• Automotive & Heavy Equipment
• Logistics
• Shipbuilding & Energy
• Construction & Rigging
• Medical
• Steel Industry
• Wind Industry
• Railway
• Others

 Laser Projection Systems Market Regional Analysis/Insights

The laser projection systems market is analyzed and market size insights and trends are provided by country type, type, component, dimensional type, power range, technology, application and end-user as referenced above.

The countries covered in the laser projection systems market report are report  U.S., Canada and Mexico in North America.

The U.S. accounted for the largest market share owing to increasing demand of aircraft which has resulted in growing demand of laser projection system in the aerospace industry.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Laser Projection Systems Market Share Analysis

The laser projection systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to laser projection systems market.

Some of the major players operating in the laser projection systems market are:

• Panasonic Corporation (Japan)
• Sony Corporation (Japan)
• Seiko Epson Corporation (Japan)
• Barco (Belgium)
• Sharp NEC Display Solutions of America, Inc. (U.S.)
• BenQ (Taiwan)
• LG Electronics (South Korea)
• Xiaomi (China)
• Delta Electronics, Inc. (Taiwan)
• Optoma (Taiwan)
• Ricoh (Japan)
• Canon Inc. (Japan)
• Christie Digital Systems USA, Inc. (U.S.)
• Dell Inc, (U.S.)
• Hitachi Digital Media Group (U.K.)
• FARO  (U.S.)
• LAP GmbH (Germany)
• ViewSonic Corporation (U.S.)
• Digital Projection  (U.S.)
• VAVA (U.S.)
• Eiki International, Inc. (Japan)
• Kvant Lasers, s.r.o. (Slovakia)

Research Methodology: North America Laser Projection Systems Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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