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Global Pico Projector Market is Projected to Reach $5.2 Billion by 2023

The Global Pico Projector market is poised to grow from $814 Million in 2017 to $5,241 Million by 2023 at a CAGR of 30.8% during the forecast period. The integration of portable electronics with the projection technologies has revolutionized the pico projector market. Furthermore, high resolution output, ease of connectivity, and improved level of brightness have supplemented the growth of the market.

The non-embedded or standalone pico projectors led the pico projector market in 2017. Functionalities including small form factor and convenience of usage are attributable to the dominance of the non-embedded pico projectors in the market.

Among the type of technologies, the digital light processing (DLP) dominated the market owing to its reliability and widespread deployment in the conventional projectors and cinemas. The consumer electronics application led the market in 2017 and is anticipated to maintain its lead over the forecast period.

The Asia-Pacific region is estimated to lead the pico projector market during 2017 to 2023. This dominance is attributable to the growth in the consumer electronics industry and increasing investments in technological advancements.

The key market players operating in the pico projector market include Lenovo Group Limited, LG Electronics Inc., Microvision, Inc., Sony Corporation, Texas Instruments Inc., ZTE Corporation, Koninklijke Philips N.V., Optoma Technology Corp., Aaxa Technologies Inc., and RIF6 LLC among others. These players adopt various strategies such as product launch, partnership, acquisition, and others to sustain in the market.

Key Takeaways of the Global Pico Projector Market:
•    The embedded segment is expected to grow at a lucrative growth rate from 2018 to 2023.
•    The consumer electronics application in the pico projector market generated the highest revenue share in 2017.
•    The digital light processing technology dominated the market in 2017.
•    Asia-Pacific region witnesses the highest demand for pico projectors.

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