Laser Projection Market Size, Share and Trends 2024 to 2034

Laser Projection Market Size and Forecast 2024 to 2034

The global laser projection market size is projected to be worth around USD 92.79 billion by 2034 from USD 17.52 billion in 2024, at a CAGR of 18.14% from 2024 to 2034. The increasing demand for high-quality videos has driven the growth of the laser projection market.

Laser Projection Market Key Takeaways

• Asia Pacific led the laser projection market with the highest share in 2023.
• By region, North America is expected to grow at the fastest rate during the forecast period.
• By application, the enterprises segment held the largest share of the market in 2023.
• By application, the cinema segment is expected to grow at a significant rate during the forecast period.
• By Illumination, the laser phosphor segment dominated the market in 2023.
• By Illumination, the RGB laser segment is expected to grow at a notable rate during the forecast period.

Market Overview

The laser projection market is an important industry in the electronics sector. This market deals in developing and distributing laser projection systems for numerous applications. This industry manufactures several types of products, including laser projectors and CAD laser projection systems. Several types of illumination are used in these projectors, such as laser phosphor, hybrid, RGB laser, and laser diode.

The laser projection industry is mainly driven by advancements in technologies associated with video enhancements along with the increasing number of cultural activities around the world. This projection system finds several applications in several end-user verticals such as enterprise, public places, cinema, education, retail, medical, industrial, and others. This industry is likely to grow significantly with the developments in the cinema industry.

• According to the annual report of Epson published in 2023, the company invested around 6 billion yen in developing advanced 3LCD projectors for various end-users.

Laser Projection Market Growth Factors

• The advancements in 4K technologies for a better viewing experience.
• Rising adoption of laser projection system over lamp projectors.
• Increasing demand for high-brightness projectors in the education sector.
• The rising trend of theme parks and concerts around the world.
• Developments in laser projection technology to enhance the immersive experience of AR and VR devices.
• High durability and efficiency as compared to traditional projectors.
• Several advantages of laser projection systems include long life spans and less maintenance.
• Rising demand for laser projectors in commercial and military sector.
• The ongoing research and developments associated with laser diode and hybrid illuminating systems.
• There is a rise in the entertainment industry along with the growing popularity of large displays.

How is AI changing the Laser Projection Industry?

The application of artificial intelligence (AI) is crucial for the development of the electronics industry. Currently, laser projection system companies have started integrating AI for several advantages, such as nail positioning and identifying shiners for wall panels. Moreover, AI is being used in the laser projection industry to monitor the efficacy of the laser welding process in real-time and evaluate around three thousand images every second. Thus, the integration of AI in laser projection systems has positively changed the landscape of the laser projection market.

• In November 2023, Humane launched an AI-based projector. This projector has advanced AI features and cloud storage facilities for use in various applications.

Famous Movie Theatres

• TCL Chinese Theatre
• New Beverly Cinema
• Grand Rex
• Pathé Koninklijk Theater Tuschinski
• Nitehawk Cinema
• Music Box Theatre
• Village East by Angelika
• Hayden Orpheum Picture Palace
• The Civic
• Alamo Drafthouse Cinema Ritz
• Mareel - Music, Cinema and Education Venue
• Sun Theatre
• Grand Lake Theatre
• Coolidge Corner Theatre
• The Paris Theater
• Matadero Madrid
• Palais Garnier

Market Scope

Market Dynamics

Driver

Growing application of laser projection systems in the industrial sector

The application of laser projection systems is very important for several industries. The demand for advanced laser projectors in the aerospace & defense sector to speed up the manufacturing process, along with the growing advancements in 3D technology-based laser projectors for metal industries, has gained prominent attraction among consumers.

Moreover, the automotive industries are using advanced projection systems for placing mounting elements, including braces, fixtures, electrical wiring, and some others, increasing the demand for laser projectors. Thus, the rising application of laser projection systems in various industries is expected to propel the growth of the laser projection market during the forecast period.

• In March 2024, LAP launched CAD-PRO Xpert. CAD-PRO Xpert is an industrial laser projection system that finds several applications in various industries such as automotive, composite manufacturing, concrete parts production and some others.

Restraint

High cost and side effects on the human eye

The laser projection industry faces several problems that hamper industrial growth. The initial cost of laser projection systems is high compared to traditional projectors, which restrains the market growth. Also, the excessive use of laser projection systems can cause several problems for the human eye, which can act as a restraining factor that negatively impacts laser projection market growth

Opportunity

Advancements in laser diode illumination

The laser projection industry has developed significantly with the advancements in science and technology. Nowadays, laser projection companies have started investing in research and development activities associated with laser diode projectors. The emphasis on laser diode projectors has increased to provide stable brightness for longer durations and present superior image quality for numerous verticals. Thus, advancements in laser diode illumination technology are expected to create ample growth opportunities for laser projection market players in the future.

• In February 2024, Ushio Inc. launched HL63680HD. HL63680HD is a red laser diode (LD) projector that finds applications in several verticals.

Illumination Insights

The laser phosphor segment dominated the laser projection market in 2023. The growing demand for laser phosphor projectors in government organizations has driven market growth. Also, the rising application of laser phosphor projectors in corporate offices and entertainment venues is boosting the market growth.

Moreover, the growing advancements in laser phosphorus projectors that are used in educational institutions and small auditoriums are likely to propel the market growth. Furthermore, the advantages of laser phosphorus projectors, such as enhanced brightness, instant on/off capability, flexible installation, low cost of purchase & maintenance, and some others, are expected to drive the growth of the laser projection market during the forecast period.

• In October 2023, Sharp NEC launched a new series of digital cinema laser projectors. These projectors are named NC603L and NC1503L, which use laser phosphor technology to provide superior quality images and videos, along with flexible installation in cinema halls.
• In September 2023, ViewSonic Corp announced the launch of two new projectors. These new projectors are named LS740HD and LS740W, which support Full HD 1080p resolution and optical zooming capability along with laser phosphor technology for providing advanced video quality in several applications.

The RGB laser segment is estimated to exhibit a notable growth rate during the forecast period. The growing demand for RGB laser projectors from cinema halls with large screens has driven the market growth. Also, the increasing use of RGB laser projectors to provide 3D and 4D viewing experiences is likely to propel market growth. Moreover, the upsurge in demand for optical guidance systems has increased the application of RGB laser projectors for projection mapping, which in turn has fostered market growth to some extent. Furthermore, the rising application of RGB laser projectors in live event staging and theme parks to provide enhanced colors to viewers will benefit the laser projection market during the forecast period.

• In July 2024, ViewSonic Corp launched LX700-4K RGB. LX700-4K RGB is an RGB laser-based projector that enhances the viewing experience for home entertainment and delivers the sharpest contrast and brightness to the users.
• In July 2023, Optoma launched ML1080. ML1080 is an RGB laser-based projector that offers a resolution of 1080p and 1,200 lumens brightness for enhancing the quality of pictures in various applications.

Application Insights

The enterprises segment held a dominant share of the laser projection market in 2023. The rising demand for portable projectors in business enterprises has driven the market growth. Also, the growing application of RGB laser projection systems in corporate offices to display several presentations is likely to boost the market growth. Moreover, the increase in demand for CAD laser projection systems in large enterprises to scale shapes, outlines, and templates, along with the rising use of laser projectors to minimize costs, is likely to propel industrial growth.

• In November 2023, LG Business Solutions launched LG ProBeam BU53RG. LG ProBeam BU53RG is a new laser projector that supports 4k ultra high-definition quality for providing sharp and bright images in business enterprises.
• In October 2023, PFU America, Inc. launched a new series of projectors. This new series of projectors consists of PJ WXL5860 and PJ WUL5860, which find applications in numerous enterprises.

The cinema segment is expected to grow significantly during the forecast period. The rise in the number of cinema halls around the world has increased the demand for laser projectors. Also, the rising interest of people in visiting movie theatres for leisure is likely to propel the laser projection market growth. Moreover, the growing use of RGB laser projectors in cinema halls due to their high durability, less power-consuming capacity, less heat generation, and other benefits has boosted the market growth. Furthermore, the upsurge in demand for laser projectors to produce vivid and brighter images, along with their flexibility, is beneficial for the laser projection market.

• In July 2024, Regal announced a partnership with Christie. This partnership is done to install around 280 RGB Pure Laser Projectors in various movie theatres across North America.
• In June 2024, Barco launched “Laser by Barco”. “Laser by Barco” is a marketing campaign that was launched to provide knowledge about laser projectors to persons visiting cinema halls in the U.S. and Canada.

Regional Insights

Asia Pacific held the largest share of the laser projection market in 2023. The rising advancement in the electronic industry in countries such as China, India, Japan, South Korea, and others boost the market growth. The rising demand for MMORPG games has increased the demand for 4K laser projectors, propelling the market growth. The rising developments in the healthcare sector in Israel, India, China, and Japan have further increased the demand for laser projectors for several applications. Moreover, the growing application of laser projectors in the educational and industrial sectors in the Asia Pacific region has propelled the market growth.

• In March 2024, Netmarble launched Arthdal Chronicles in Asia. Arthdal Chronicles is a MMORPG that is available in Apple App Store, Google Play and Kakao Games.
• In December 2022, Optoma launched a new series of laser projectors in India. These projectors are eco-friendly and energy-efficient and find applications in educational institutions.

This region consists of several local manufacturers of laser projection systems, such as Sony, Panasonic, Epson, LG, Hitachi, BenQ, and others. These companies are constantly developing advanced laser projection systems for numerous industries in the Asia Pacific region, which in turn is expected to drive the growth of the laser projection market.

• In June 2024, BenQ launched BenQ TK710 in India. BenQ TK710 is a 4K laser projector that comes with ultra-HD resolution and ensures superior picture quality for watching cinemas and playing games.

North America is expected to be the fastest-growing region during the forecast period. The rising demand for laser projectors from government organizations such as the FDA, NASA, the White House, FBI, and others has boosted the market growth. Also, the increasing trend of companies to advertise their products and services in public places has increased the demand for laser projectors.

The rise in the number of corporate offices in Canada and the U.S. has increased the demand for advanced laser projection systems to provide superior presentations to clients. Moreover, there is a growing development in the retail sector, along with the rising trend of people visiting movie theatres. This region consists of local market players of laser projection systems such as Dell, Vava, Hutchinson Manufacturing Inc., Christie Digital System, and some others that are constantly engaged in manufacturing high-grade laser projection systems.

• In August 2023, Christie launched two new laser projectors in the U.S. These two lasers are named M 4K15 RGB and M 4K+15 RGB, which have several applications in projection mapping spectacles, staging and live events, and theme park attractions.

Laser Projection Market Companies

• Panasonic
• Sony
• Epson
• Barco
• NEC Display Solutions
• Delta Electronics
• Ricoh Company
• Hutchinson Manufacturing Inc
• Xiaomi Corp.
• BenQ
• Casio
• Optoma
• View sonic
• Christie digital system
• Faro
• Dell
• Canon
• Hitachi digital
• LG Electronics
• LAP GmbH
• Digital Projection, Inc.
• VAVA
• Eiki International, Inc.
• Production Resource Group LLC
• Kvant Lasers SRO

Recent Developments

• In August 2024, Sharp launched M series projectors. These M series projectors are equipped with special types of laser light along with DLP technology.
• In July 2024, Optoma launched the Wave series in India. This wave series consists of laser projectors such as Wave110S, Wave110R, and Wave120R required for home entertainment.
• In June 2024, LG launched the CineBeam Q HU710PB laser projector. This laser projector comes with a built-in mono speaker system, and it runs on LG webOS along with supporting 4k resolution.
• In May 2024, Acer launched two new projectors under the Vero series. This series consists of HL6810 and HL6810ATV projectors that supports HDR10, 4K UHD resolution and 4000 ANSI lumens.

Segments Covered in the Report

By Application

• Enterprise
• Public places
• Cinema
• Education
• Retail
• Medical
• Industrial

By Illumination Type

• Laser Phosphor
• Hybrid
• Rgb Laser
• Laser Diode

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa