Report : Asia Pacific Projector Screen Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Fixed Frame, Tripod, Folding Frame, Floor Rising/Pull Up, Electric, Manual, and Others) and End User (Education, Media and Entertainment, Healthcare, Government and Defense, Commercial, Personal, and Others)
Healthcare Segment is Expected to be Fastest Growing During Forecast Period for APAC region
According to a new market research study on “APAC Projector Screen Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast Type and End User,” is expected to reach US$ 6,695.14 million by 2027 from US$ 3,250.76 million in 2020. The market is estimated to grow at a CAGR of 11.4 % from 2021 to 2027. The report provides trends prevailing in the APAC projector screen market along with the drivers and restraints pertaining to the market growth. Mounting demand for cinema projector screens and upgradation in screen size and layers are the major factor driving the growth of the APAC projector screen market. However, accessibility of alternative solution such as large LED screens hinders the growth of APAC projector screen market.
In case of COVID-19, APAC is highly affected specially the China and India. The government of APAC countries took all possible steps to reduce the effects of the coronavirus pandemic by announcing lockdown. The lockdown has created a negative impact on the projector screen market. In addition, APAC is a house of many manufacturing plants, also got affected due to lockdown. The step disrupted the production and supply of components overseas. Factory activity contracted sharply across most of the region in April as the coronavirus pandemic paralyzed economic activity globally, with sharp falls in export from countries such as Japan and South Korea overshadowing a moderate enhancement in China. Manufacturing indicators also slumped in Vietnam, Indonesia, and the Philippines, as per the Purchasing Managers’ Index surveys. China’s factory activity enhanced marginally more than anticipated in March after plunging a month earlier; however, growth was minimal, signifying the intense pressure on businesses owing to a decline in domestic and export demand. While factories in China slowly resumed operations after extended shutdowns and a reduction in virus cases enabled the country to begin relaxing travel restrictions, activity in South Korea contracted at its fastest pace in 11 years as several of the country’s trading partners imposed dramatic actions to control the virus’ spread. Also, the construction sector has been impacted significantly across the region. Such factors have negatively impacted the projector screen market in APAC.
The APAC projector screen market is segmented on the basis of types, end user, and country. Based on types, the market is segmented into fixed frame, tripod, folding frame, floor rising/pull up, electric, manual, and others. The fixed frame segment dominated the APAC market in 2020. The tripod segment is expected to be fastest growing during forecast period. Based on end user, the market is segmented into education, media and entertainment, healthcare, government and defense, commercial, personal, and others. The media and entertainment industry dominated the market in 2020 and healthcare industry is expected to be fastest growing during forecast period.
Barco NV, Elite Screens Inc., Grandview Crystal Screen Co. Ltd., LEGRAND AV INC., Seiko Epson Corporation (Seiko Group), Stewart Filmscreen are among the leading companies in the APAC projector screen 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 announced that Collins Aerospace had chosen Barco FS40-4K MKII projectors for a prestigious, international advanced jet trainer program.
The report segments the APAC Projector Screen Market as follows:
APAC Projector Screen Market – By Type
- Fixed Frame
- Folding Frame
- Floor Rising/Pull Up
APAC Projector Screen Market – By End User
- Media and Entertainment
- Government and Defense
APAC Projector Screen Market – By Country
- South Korea
- Rest of APAC
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