Report : South America 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)
5001–10000 Segment to Dominate SAM Advanced Cinema Projector Market during 2020–2028
According to a new market research study on “SAM 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$ 46.32 million by 2028 from 37.45 US$ million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the SAM advanced cinema projector market along with the drivers and restraints pertaining to the market growth. Increased demand for advanced film projectors in commercial applications is the major factor driving the growth of the SAM advanced cinema projector market. However, issues associated with high initial cost of laser projectors hinders the growth of SAM advanced cinema projector market.
The SAM 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 SAM advanced cinema projector market is segmented into Brazil and rest of SAM. Brazil held the largest market share in 2020.
Countries in SAM also suffered tremendously due to the outbreak of COVID-19, especially Brazil, Chile, and Colombia. The rise in COVID-19 infected patients forced the government to impose strict lockdown measures, leading to a temporary shutdown of cinema theaters, in turn, resulting in the drop in demand for advanced projectors. The rebounding of attendance in cinema theaters in Brazil to the pre-covid level would require some time. Also, the demand for advanced cinema projectors is expected to increase by the end of 2021, as the owners are seeking to improve the customer experience with advanced technologies. On the other hand, Colombian Cine Colombia signed a contract with Cinionic in June 2021 to provide it with exclusive technology. Cinionic, the Barco, CGS, and ALPD cinema joint venture are expected to refurbish/upgrade Cine Colombia’s projection technology with Cinionic’s laser technology across 339 screens in 46 locations. This sort of contractual agreement is expected to benefit the advanced cinema projector market in Colombia and subsequently in the rest of SAM region.
Barco NV; BENQ Corporation; Christie Digital; Delta Electronics, Inc.; Hitachi Ltd.; LG Electronics Inc.; Panasonic Corporation; and Sharp Corporation are among the leading companies in the SAM 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 2021, Cinionic (Barco NV) has entered into a partnership with Cine Colombia. The deal is a culmination of ongoing support by Cinionic for Cine Colombia, the largest exhibitor in Colombia, with 339 cinema screens across 46 locations.
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