Global home theater projector market to grow at a CAGR of around 8% by 2020


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Global home theater projector market to grow at a CAGR of around 8% by 2020

2017-06-07 14:50:44

"Global Home Theater Projector Market 2016-2020" is a report published by Technavio, in which this firm predicts that the global home theater projector market to grow at a CAGR of around 8% between 2016 and 2020. The growing preference for a theater-like movie or gaming experience among consumers has led to the increased adoption of home theater projectors. Also, these projectors are portable and more economical than products like flat-screen TVs. One of the recent developments in the market is the growing demand for ultra-short throw projectors with high brightness. Also, consumers are opting for energy-efficient and eco-friendly projectors.

Geographically, APAC is one of the fastest-growing regions in the global home theater projector market. China, Japan, and India are the major revenue contributing countries in this region. The emerging middle-class population of the region with their increasing disposable income is the major driving force in the growth of the market in APAC. With the increasing procurement of expensive products, including advanced audio and video devices, by a large segment of the population, the home theater projector market in APAC will witness a huge growth rate during the forecast period.

Marked by the presence of well-established global as well as local players, the global home theater projector market is highly fragmented. Intense competition prevails in the market where the manufacturers are constantly developing innovative products to meet the rapidly changing lifestyles of consumers. Vendors are increasingly using celebrity endorsements strategies to showcase their new launches in the market. Competition in the market is anticipated to aggravate during the forecast period, with several leading companies focusing on product innovations, price wars, and mergers and acquisitions.

The DLP technology accounted for more than half of the total market shares in 2015 and will continue its dominance in the market over the predicted period. The use of DLP technology provides extremely high-contrast pictures and leads to faster processing. DLP projectors are lightweight and compact, which make it easier to move from one place to another. Also, vendors are coming up with innovative product designs in terms of ultra-short throw DLP projectors, which are aiding in their popularity and adoption. With the growing demand for high-end home theater systems, especially from the business class, the segment is expected to grow positively in the coming years.

The EASR retail format dominated the market and accounted for the largest share of the overall market revenue during 2015. The main advantage of these retail stores is that they focus on a single class of products and have specialization and expertise in a particular commodity. The employees working within these stores are proficient in the type of merchandise they sell, and attract more consumers who want to buy advanced or newly-launched products. Besides offering a wide variety of home theater projectors, these stores also offer the desired quality and brand as required by consumers.