Report : Asia Pacific Advanced Cinema Projector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Illumination Source (Lamp and RGB Pure Laser), End User (Residential and Commercial), Resolution (2K and 4K), and Lumens (1000–5000, 5001–10000, 10001–30000, and Above 30000)

2K Segment to Dominate APAC Advanced Cinema Projector Market during 2020–2028      

According to a new market research study on “APAC Advanced Cinema Projector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Illumination Source, End User, Resolution, and Lumens” is expected to reach US$ 827.21 million by 2028 from 443.66 US$ million in 2021. The market is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The report provides trends prevailing in the APAC advanced cinema projector market along with the drivers and restraints pertaining to the market growth. Next generation cinema projectors getting developed is the major factor driving the growth of the APAC advanced cinema projector market. However, issues associated with laser projectors being costly hinders the growth of APAC advanced cinema projector market.

The APAC advanced cinema projector market is segmented on the basis of Illumination Source, end users, resolution, lumens, and country. Based on Illumination Source, the market is segmented into lamp, and RGB pure laser. RGB pure laser segment held the largest market share in 2020. Based on end user, the market is segmented into commercial and residential. Commercial segment held the largest market share in 2020. Based on resolution, the market is segmented into 2K and 4K. 2K segment held the largest market share in 2020. Based on lumens the market is segmented into 1000–5000, 5001–10000, 10001–30000, and Above 30000. 5001–10000 segment held the largest market share in 2020. Based on country, the APAC advanced cinema projector market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Japan held the largest market share in 2020.

APAC, the manufacturing hub of consumer electronics, houses several well-established and small/emerging advanced cinema projectors. Since the outbreak of the COVID-19 in China, the manufacturers of advanced cinema projectors have been experiencing a significant downfall in the demand for their products. This affected their annual sales in 2020. Japanese and Taiwanese advanced cinema projector manufacturers were also hit hard due to the COVID-19 outbreak, and the subsequent closure of cinema theaters and the hospitality industry especially restaurants. Owing to this, APAC suffered the maximum loss in the global advanced cinema projector market in 2020. India, another crucial country in terms of the cinema industry, maintained the decision to close cinema theaters. This resulted in a severe loss for the cinema theater owners, which resulted in limited attraction toward newer or technologically enhanced cinema projectors. This factor negatively affected the growth of the advanced cinema projector market. In addition, the surge in second and third waves of COVID-19 in India, Japan, South Korea, and Australia in 2021 weakened the demand for advanced systems from commercial customers in the advanced cinema projector market. This is further expected to showcase slower growth in the market through 2021.

Barco NV; BENQ Corporation; Christie Digital; Delta Electronics, Inc.; Hitachi Ltd.; Infocus Corporation; LG Electronics Inc.; Optoma Corporation; Panasonic Corporation; and Sharp Corporation are among the leading companies in the APAC advanced cinema projector market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Barco NV and Cinionic had launched Barco Series 4 platform, a 4K laser projector platform at CinemaCon 2019. This next-generation projector platform delivers an unmatched cinema experience to moviegoers today and futureproof results with native 4K resolution, higher contrast, wider colour gamut, and enhanced uniformity.    

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