CHICAGO, May 31, 2021 /PRNewswire/ -- According to a research report, "Projection Mapping Market with Covid-19 Impact Analysis by Offering (Hardware (Projector, Media Server), Software), Throw Distance, Dimension (2D, 3D, 4D), Lumens, Applications (Media, Venue, Retail, Entertainment), and Region - Global Forecast to 2026", published by MarketsandMarkets, the global Projection Mapping Market, is expected to reach USD 7.9 billion by 2026 from USD 2.8 billion in 2021, at a CAGR of 23.4% during the 2021-2026 period.
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The rapid growth of the global projection mapping market is attributed to driving factors such as the increasing adoption of projection mapping for media events, rising advertising expenditure, adoption of projection mapping for product launch applications, and increasing demand for high-brightness projectors.
Projection mapping software market is expected to witness the highest CAGR during the period 2021 to 2026
Projection mapping is generally used in large venue applications with massive crowd gatherings such as media events and entertainment. However, in recent years, projection mapping is also being adopted in small and medium-sized venue applications. Due to the increased adoption of projection mapping on irregular surfaces and objects, there is a rise in demand for projection mapping software. Projection mapping software is extremely useful in seamlessly transforming irregular surfaces and objects into a screen or canvas for projection mapping.
Projection mapping market for projectors with brightness above 30,000 lumens to grow at the highest CAGR during the forecast period
In auditoriums and large venues, projectors with high brightness are used. Based on the size of the venue and the ambient light, a suitable projector that delivers the appropriate amount of brightness is selected. For instance, in large auditoriums and stadiums where projection mapping needs to be done during the day, projectors with a brightness of more than 50,000 lumens are used. High brightness projectors are extremely useful for large venues and at venues with high ambient light.
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North America to hold the largest share of projection mapping market during the forecast period
North America holds the largest share in the global projection mapping market. The major factors driving market growth in this region include the rising number of media events, the presence of multiple companies that manufacture or develop the devices and software needed for projection mapping, and the presence of various technologically advanced countries that are using projection mapping for multiple applications. Factors such as the rise in advertising expenditure, and the increased adoption of permanent projection mapping installations at the tourist sites are also supporting the growth of the projection mapping market in North America.
The report profiles key players such as Panasonic (Japan), Epson (Japan), BenQ (Taiwan), Barco (Belgium), Christie Digital Systems (US), Optoma Corporation (Taiwan), Digital Projection Limited (UK), NEC Display Solutions (US), ON Vivitek (Netherlands), ViewSonic (US), and AV Stumpfl (Austria).
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DLP Projector Market by Light Source (Lamp, LED, and Laser), Chip Model, by Brightness, Throw Distance (Normal Throw, Short Throw, and Ultra-short Throw), Application, and by Geography (The Americas, Europe, APAC, and RoW) - Global Forecast to 2020
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