According to a recent report published by Allied Market Research, titled, Global Pico Projector Market by Technology, Product, Application, and Compatibility: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global pico projector market was valued at $749 million in 2016, and is projected to reach at $5,002 million by 2023, growing at a CAGR of 31.1% from 2017 to 2023.
At present, Asia-Pacific dominates the market, followed by North America. In 2016, China dominated the Asia-Pacific market and Germany led the overall market in Europe. However, in North America, the U.S. currently dominates the market.
The compactness and flexibility of the pico projectors make way for the growth of the market. In addition recent technological advancements also contribute to the market growth. However, low brightness and short battery backup hampers this stated growth.
Key Findings of the Pico Projector Market:
- The digital light processing (DLP) segment generated the highest revenue in the global pico projector market in 2016.
- In 2016, the non-embedded/standalone segment was the highest revenue contributor in the product segment.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
- In 2016, Asia-Pacific contributed the highest market share, followed by North America, Europe, and LAMEA.
The key players profiled in the report include Texas Instruments, Inc., MicroVision, Inc, Aaxa Technologies, Inc., LG Electronics, Inc., Lenovo Group Ltd., Optoma Technology Corp., Syndiant, ZTE Corporation, Celluon, Inc., and Miroir USA.