Pico Projector Market Insights:
The global pico projector market will touch USD 9.912 billion at a 4.80% CAGR by 2032, as per the latest Market Research Future report. The growing adoption of embedded pico projectors will boost market growth over the forecast period. An embedded pico projector is in great demand owing to the growing desire for gadgets that are compact and flexible that has supported them in taking over the market. Besides, these projectors are turning into a vital platform particularly in electronic goods for the IoT and AR reality development.
The preference for pico projectors over the standard commercial projectors will offer lucrative opportunities for the pico projectors market in the forecast period. The latter are hefty projectors while the former are compact in dimension and immensely lightweight. Besides, pico projectors are adaptable and can be connected to assorted devices such as cell phones, gaming stations, computers, laptops, and DVD players. Thus, the user can transport it conveniently.
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Key Players:
- Lenovo Group Limited (U.S.)
- LG Electronics Inc. (South Korea)
- Microvision Inc. (U.S.)
- Sony Corporation (Japan)
- Aaxa Technologies Inc. (U.S.)
- Texas Instruments Inc. (U.S.)
- ZTE Corporation (China)
- Koninklijke Philips N.V. (Netherlands)
- Cremotech Co. Ltd. (South Korea)
- Global Aiptek Corporation (Taiwan),
are the notable vendors in the Pico Projector market.
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Pico Projector Market Regional Analysis:
North America to Head Pico Projector Market
North America will head the market in the forecast period. This region experienced a sharp increase in consumer electronics spending. The pico projectors sales has increased in Canada and the US for their small size & cutting-edge HDMI and Wi-Fi interface compatibility. Besides, the launch of new apps for this technology especially in vision-guided robotics, intelligent traffic systems, and life sciences are also fuelling market growth. Quick adoption of new technology and state-of-the-art infrastructure are also boding well for the market growth in the region.
Pico Projector Market Segmentation:
The pico projector market is classified based on technology, type, and component.
By component, projection lens will lead the market over the forecast period.
By type, embedded pico projectors will domineer the market over the forecast period.
By technology, DLP will spearhead the market over the forecast period.
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Restraints and Challenges
Low Brightness to act as Market Restraint
The low brightness, limited features, limited battery life, and need for a manual adjustment may act as market restraints over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic possessed a negative impact on the pico projector market for the lockdowns that hampered export and import services. Owing to people being compelled to stay and work from home the need for pico projectors fell. Besides, because schools and universities were inoperable it impacted the demand for pico projectors.
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