The global interactive projector market size is anticipated to reach USD 4.56 billion by 2025, according to a new report by Grand View Research, Inc. An interactive projector is an institutional tool that makes any surface interactive. It offers efficient user interaction, real-time learning, multi-touch collaboration, and PC-free interactivity and enables easy integration of materials.
Embedded and energy efficient projection technology offers smart devices that use gesture interface and simple touch to interact with users. The increasing adoption of e-learning in the education and corporate sector is expected to drive the demand for the interactive projector market. With the advent of faster telecommunication technologies and networking, the e-learning market is anticipated to witness a significant growth over the projected period. The developing countries like Malaysia, Vietnam, and Thailand transformed the interactive projector marekt into a bustling industry with vast revenue opportunities for e-learning.
The Bring Your Own Device (BYOD) market is driven by factors such as reduced hardware cost and increased proliferation of smartphones. Employees prefer using a single device for both professional and personal work to avoid theft and difficulty involved in carrying two separate devices; influencing the interactive projector demand. The increasing focus on product innovations, such as integration of projector with handheld digital cameras and mobile phones. is anticipated to improve the functionality of a projector in the education segment.
Technology obsolescence is one of the major factors expected to hinder the market demand. Furthermore, vendor-developer partnerships may pose numerous challenges. The growing need for highly developed IT infrastructure is anticipated to be a challenge for the industry demand. Additionally, the advent of these services in smartphones and tablets is projected to fuel the market demand in the upcoming years.
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Further key findings from the report suggest:
Increasing penetration of open IoT platform that supports various applications, networks, and devices is likely to spur the market demand
The Liquid-Crystal-on-Silicon (LCoS) projection technology is expected to portray high growth rate with a CAGR of over 24.4% over the projected period
The 3LCD technology segment dominated the interactive projector market in terms of revenue in 2016 as it provides higher color light output
The increasing focus on product innovations, such as integration with handheld digital cameras and mobile phones, is anticipated to improve projector functionalities in the education segment
The ultra-short throw segment is expected to have high growth rate over the forecast period
Various government initiatives undertaken by the emerging economies of the Asia Pacific region, to modernize the education sector, are expected to drive the market demand
The key players of the market include Optoma Technology, Inc. (U.S.), Delta Electronics, Inc. (Taiwan), Panasonic Corp. (Japan), and Boxlight Mimio (U.S.)