The Global Projection Mapping Market is expected to grow from USD 1,560.7 Million in 2018 to USD 7,781.9 Million by 2026 at a CAGR of 22.2% during the forecast period from 2019-2026. The North America region is dominating the market as it is a major hub for corporate events, shows, and sports events. The growing availability of 3D and 4D content and increasing use of augmented and virtual reality may create opportunities for the projection mapping market in future. There is a growing demand for 4-dimensional content projection as it creates more attentive environments for all the applications
Prominent companies in the industry include are Panasonic Corporation, Barco, BenQ, Vivitek, ViewSonic Corporation, Pixel Rain Digital, HeavyM, Blue Pony, Lumitrix s.r.o. among others. Leaders are providing better opportunities and continuously focused on new product developments and venture capital investments to capture market share. For instance, In November 2017, BenQ has launched 4K UHD HDR home cinema projector which has latest CinematicColorTM Technology and it would enhance their market share because it is technologically upgraded.
Offering segment is divided into segments such as hardware and software. The software market for projection mapping is expected to grow at a higher rate of 25.6% than hardware as hardware devices sustain over the long term, while software licenses have to be updated frequently. This, in turn, increases the revenue of the software market, and the software market is expected to grow rapidly in the projection mapping market during the forecast period. The throw distance segment includes a short throw and a standard throw. The standard throw segment is dominating the market with the highest share of 62.30% in 2018. Standard throw projection mapping provides very large images and is usually from projectors that are installed away from the projection screen. They require a long distance to make an image. Standard throw projectors are mainly used in events and hence are expected to hold a major share of the projection mapping market during the forecast period. The Dimension segment is classified into 2-Dimensional, 3-Dimension, and 4-Dimension. The 3-Dimension segment is dominating the market and valued around USD 799.07 Million in 2018. The 3D projection includes developing mind-bending outcomes through warping information with a regulated application, as pictures take on physical structure.
The application segment includes events, festivals, large venue, retail/entertainment, and others. The large venue segment is dominating the market with the highest share of 40.20% in 2018. Increasing spending on amusement and theme parks is anticipated to boost the projection mapping market for large venue application as projection mapping is commonly being used in this application.
Growing investment in product advertising is a major factor driving the market. In addition, rising use of projection mapping in media events further stimulates the demand. However, it gives less-effective projection under sunlight may obstruct the growth of market. Nevertheless, rising use of augmented and virtual reality may boost the market in forthcoming years