The research study covers the present scenario and growth prospects of the global pico projectors market for 2017-2021. To determine the market size, the study considers revenue generated from standalone and embedded pico projectors.
Standalone projectors are traditional projectors which receive an input via a cable, and the video signal is streamlined using another device. The streamlining process determines the quality of the displayed image. On the other hand, embedded pico projectors are connected to a portable device which functions as an alternate display. The embedded projectors can be connected to smartphones, cameras, gaming devices, or laptops.
“The global pico projectors market will see shipments of 30 million units by the end of 2016, and is forecast to grow to 170 million shipments by 2021. The pico projector shipments are mainly driven by growth in demand for liquid crystal on silicon and digital light processing pico projectors in developing countries like Indonesia, India, South Korea, Japan, and Taiwan,” says Sunil Kumar Singh, one of the lead analysts at Technavio for computing devices research.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global pico projectors market:
- Increasing integration of pico projectors in smartphones
- Decline in ASP
- Increasing adoption of LCOS technology in pico projectors
Increasing integration of pico projectors in smartphones
In 2015, it is estimated that 1.5 billion smartphones were shipped globally. This is a massive jump from 2011, when only 490 million individual units were shipped. Smartphones are undergoing continuous innovations to include more features, one of which is the integration of pico projectors. The smartphones segment is an important end-user segment that will drive the pico projector market to growth in the market forecast period.
The smartphone phone has been successful in achieving a massive market penetration rate of 50%, and the integration of pico projectors in smartphones provides a huge scope for the global pico projectors market. Apart from smartphones, pico projectors have been integrated into other smart devices like digital photo frames, digital cameras, digital camcorders, laptops, mobile TVs, portable media players, and portable gaming devices, which is also expected to boost market growth. Some of the important pico projector-based smart products include Samsung Galaxy Beam 2, Aiptek ProjectorCam C25 Camcorder, and AAXA P4-X LED Portable pico projectors.
Decline in average selling price (ASP)
Vendors in the pico projectors market are continuously involved in re-engineering their manufacturing processes to bring down the ASP of the pico projectors. The decrease in the ASP has led to the increased adoption of pico projectors by several sectors, especially from the consumers belonging to the middle class. Additionally, with a fall in price for cost of goods sold (COGS), firms record higher primary margins, which is the overall bottom line of the income statement.
“Since the cost of pico projectors fell in 2015, the sales have been progressing steadily. Due to the falling prices, the market was able to absorb a huge percent of the overall market share in terms of shipment and revenue. Hence, the falling ASP will drive this market further during the forecast period,” says Sunil.
Increasing adoption of LCOS technology in pico projectors
Liquid crystal on silicon (LCOS) projectors leads the projector market in terms of two main features. They have the best-in-class black level effect and 120 Hz refresh rate to remove flicker effect and render artifacts-free images. Due to these two factors, these technologies are finding increasing rates of adoption in a series of pico projectors.
Liquid crystal display (LCD) technology utilizes liquid crystals on glass panels for every pixel, whereas digital light processing (DLP) technology uses tiny mirrors to reflect light. LCOS is an amalgamation of both these technologies, using liquid crystal as well as the reflective nature like in the DLP technology. This translates to LCOS projectors exhibiting high image resolution and high picture quality, and all that in an extremely compact product setting. Hence, LCOS projectors are finding high adoption rates.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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