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Portable projectors, also known as handheld, pico, pocket, or mobile projector, are an image projector principally used to project an image through portable devices. These projectors can be integrated into handheld devices such as laptops, smartphones, cameras, or tablets, and so they are also called pocket or handheld projectors. The growth of the market is attributed to the ongoing rapid digitalization in the education sector. Government among various countries invests substantially to familiarize innovative technology-based devices in the education sector. The proliferation of advanced learning methods, including distance learning, smart learning, mobile-learning, and electronic-learning, would likely support the adoption of portable projectors—the consistent technological advancement in the portable projectors witnessing substantial growth of the market.
Along with this, the immensely growing demand for handheld projectors for home entertainment is expected to boost the portable projector market growth. Moreover, the highly competitive landscape of portable projectors entices vendors to significantly decreasing the price of these devices to capture a broader consumer base. Thus, the substantially growing demand and cost reduction would offer lucrative opportunities for the portable projectors market to grow.
The handheld projector can also be incorporated into the wearable, and automotive sector for providing machine or human interactivity and next-generation augmented reality (AR) displays. Thus, the expanding application areas of portable or mobile projectors will poise market growth in the coming years. Technologically advancing IT and corporate sector and current work policies like bring your own device (BYOD) would be further likely to boost the demand for portable projectors in the future.
Key Market Driver -
• Technology advancements in portable projectors would be likely to drive the demand • Increasing integration of pico projectors in smartphones and other portable devices to accelerate the demand
Key Market Restraint -
• Technological constraints associated with portable projectors to limit the adoption
The portable projector market is highly competitive and consisting of many small and large vendors. These vendors mostly compete based on products, innovations, performance, cost, quality, selling price, financial stability, and distribution network. Various key players concentrate on organic business growth strategies such as new product launches, product enhancements, product approvals, etc. Strategic partnerships, collaborations, acquisitions, or mergers are other ultimate business growth strategies that key players have adopted to uplift their global market position. These strategies have paved the way for the enlargement of the strong customer base and business.
The key players operating the global portable projector market includes Aaxa Technologies Inc., Acer, Inc., Aiptek International, Inc., Coretronic Corporation, Sony Corporation, Acer Inc., BenQ Corporation, Canon Inc., Dell Inc., HP Development Company, L.P., Koninklijke Philips N.V., LG Electronics, Inc, Panasonic Corporation, Seiko Epson Corporation, Sony Corporation, Texas Instruments, Inc., MicroVision, Inc, Lenovo Group Ltd., Optoma Technology Corp., Syndiant, ZTE Corporation, Celluon, Inc., Miroir USA, and among others.
North America would likely hold a significant share in the global portable projector market as the region has an enormous demand for consumer electronics products. The United States invests a significant amount in introducing innovative technologies and featured devices in the education sector.
Most of the region's students have provided access to smartphones or computers and other advanced technologies for their development. The North American portable projector market growth is followed by Europe and Asia-Pacific region. The rising adoption of current workplace policies such as digital workspace, bring your own device (BYOD) policy in the corporate sector is driving market growth in the European region.
The Asia-Pacific would be likely to emerge as one of the prominent markets during the forecast period. This growth is attributed to the rising government spending for the technologically developed education sector. Governments across numerous Asian countries, including China, India, Japan, or Australia, are taking active measures to bring advanced technologies and featured learning products into their education culture; this factor would likely drive the adoption of portable projectors across the region. The persistently growing demand for consumer electronics appliances is also stimulating the growth of the market.
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