Projection Mapping Industry Overview
The global projection mapping market size was valued at USD 3.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.9% from 2022 to 2030. Factors such as increasing demand for various events, and rising demand for better projectors for permanent and semi-permanent installation are driving the demand for projection mapping. Additionally, the advancement in the technology of video projection is also fueling the demand for projection mapping around the world. In June 2022, ViewSonic Corporation, a global provider of visual solutions, announced the launch of its new X1 and X2 Light Emitting Diode (LED) projectors for home cinema seekers that offer high brightness features.
The projector features 3rd generation LED technology that delivers brighter and vivid visuals and 30,000-hour long lifespans. The projector offers an instantaneous entertainment experience along with flexible installation options. The COVID-19 pandemic severely affected the projection mapping industry, especially land-based events, owing to the complete ban on social gathering events across most parts of the world. The projection mapping market experienced a significant decline in growth during the pandemic. For instance, the UN cultural agency revealed that nearly 90 percent of treasured cultural institutions were closed.
Gather more insights about the market drivers, restraints, and growth of the Global Projection Mapping Market
Projection mapping can be defined as a 3D video projection technique that uses colors and lights to project virtual images on non-flat surfaces or irregular shapes like city landmarks, industrial sites, public buildings, and several others. Projection mapping offers a unique opportunity to immerse and attract a large audience with inspiring spectacles and captivating shows even from a distance. The projection mapping dimension involves providing a better experience to the audience. Various service providers who want different dimension type for projection mapping can connect to various manufacturers. The services provider will fulfill the demand as per the requirements of the customer providing end-to-end fulfillment service.
Moreover, the high installation cost associated with the type of dimension implementation is restraining the market growth. Also, factors such as constant developments in projectors and associated technologies is resulting in additional costs. Such factors are creating dissatisfaction among the clients, as a result customers are shifting towards alternative solutions providers that offer cost-efficient services. Additionally, the lack of technological expertise and knowledge is further hampering the projection mapping industry growth.
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Projection Mapping Industry Segmentation
Grand View Research has segmented the global projection mapping market based on dimension type, throw distance, application, and region:
Projection Mapping Dimension Type Outlook (Revenue, USD Million, 2017 - 2030)
- 2D
- 3D
- 4D
Projection Mapping Throw Distance Outlook (Revenue, USD Million, 2017 - 2030)
- Short Throw
- Standard Throw
Projection Mapping Application Outlook (Revenue, USD Million, 2017 - 2030)
- Events
- Rental & Staging
- Large Venue
- Others
Projection Mapping Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
December 2021: Barco appointed LANG AG as a preferred delivery partner for image and projection processing in Germany and Austria. The collaboration between both the company focuses on bringing the most innovative and best solutions to the market.
December 2021: Vivitek announced the launch of DU9900Z, its new heavy-duty laser projector. It offers features such as warping and edge blending technology along with lens position memory and motorized lens zoom/shift/focus and is capable of 360-degree portrait projection.
Key Companies profiled:
Some prominent players in the global Projection Mapping Industry include
- Seiko Epson Corporation
- Panasonic Corporation
- BenQ
- Vivitek, INC
- Sharp NEC Display Solutions
- Barco
- AV Stumpfl GmbH
- Optoma Corporation
- ViewSonic Corporation
- Digital Projection
- Christie Digital Systems
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