Market Introduction
APAC comprises of the largest and most dynamic economies such as China, India, Japan, Australia, and South Korea. The countries in the region are noticing surge in the middle-class population and urbanization that offers plentiful opportunities for the advanced cinema projector market players. The rising urbanization has resulted in growth of media & entertainment industry. Also, the wide application of advanced cinema projectors at cinema halls, auditoriums, and residential places anticipated to enhance the market growth during the forecast period. The region is the largest continent in the world and is recognized for its technological innovations. Rapid advancement in technologies, along with policy support as well as economic digitization are among the major factors that support the transition of economies in APAC from the growing stage to the developed stage. There are several advanced technologies that are been used in cinema projectors such as digital light processing (DLP), liquid crystal display (LCD), and light emitting diode (LED). Further, now-a-days, the cinema screens are coming with new technological innovations such as digital, 3D, 4D, 5D, and others. For instance, in September 2020, Sony Corporation had launched its three new native 4K (4096 x 2160) home cinema projectors with SXRD panels for the consumer and custom installation (CI) channels. The VPL-VW715ES, VPL-VW915ES, and flagship VPL-GTZ380 models offer an incredibly clear HDR experience by implementing new X1 picture processor for projector. Further, in October 2018, Delta Electronics, Inc. had launched 8K 25,000-lumen DLP projector in Japan, along with Digital Projection International Ltd. Delta has enabled its fully equipped 8K projection showroom with a 320-inch mega screen at the Akiba Theater located in the Akihabara area as a new model to boost local 8K projection business and bring an extraordinary experience to audiences. Therefore, the growing use of advanced technologies in cinema projectors are influencing the growth of advanced cinema projector market in the region.
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.
Market Overview and Dynamics
The advanced cinema projector market in APAC is expected to grow from US$ 443.66 million in 2021 to US$ 827.21 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The growing media and entertainment industry across APAC region is also one of the major factor in the growth of advanced cinema projector market. As, according to the India Brand Equity Foundation data of May 2021, the Indian media and entertainment industry would experience a strong phase of growth due to the rising consumer demand and improving advertising revenue. Further, according to the Deloitte website data of 2020, the Chinese box office is on rise, overtaking the North America market. The Chinese film market is rising due to the three factors such as policy, internet, and funding. Thus, with rising media and entertainment industry across APAC and growing preference for watching movies at residential places, are anticipated to increase the demand in the market.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the advanced cinema projector market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Barco NV; BENQ Corporation; Christie Digital; Delta Electronics, Inc.; Hitachi Ltd.; Infocus Corporation; LG Electronics Inc.; Optoma Corporation; Panasonic Corporation; and Sharp Corporation.
Reasons to buy report
APAC Advanced Cinema Projector Market Segmentation
APAC Advanced Cinema Projector Market - By Illumination Source
APAC Advanced Cinema Projector Market - By End User
APAC Advanced Cinema Projector Market - By Resolution
APAC Advanced Cinema Projector Market - By Lumens
APAC Advanced Cinema Projector Market - By Country
APAC Advanced Cinema Projector Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 443.66 Million |
| Market Size by 2028 | US$ 827.21 Million |
| CAGR (2021 - 2028) | 9.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Illumination Source
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Advanced Cinema Projector Market is valued at US$ 443.66 Million in 2021, it is projected to reach US$ 827.21 Million by 2028.
As per our report Asia Pacific Advanced Cinema Projector Market, the market size is valued at US$ 443.66 Million in 2021, projecting it to reach US$ 827.21 Million by 2028. This translates to a CAGR of approximately 9.3% during the forecast period.
The Asia Pacific Advanced Cinema Projector Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Advanced Cinema Projector Market report:
The Asia Pacific Advanced Cinema Projector Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Advanced Cinema Projector Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Advanced Cinema Projector Market value chain can benefit from the information contained in a comprehensive market report.
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