The global Projection Mapping Market size is anticipated to reach USD 8.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.9% from 2022 to 2030. 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 market was severely impacted due to the COVID-19
pandemic. The several regulations by the government for entertainment, tourism,
and public gathering due to the pandemic forced people to stay at home. The
industry suffered as major sports, and events were shut down for a long time.
The pandemic also impacted the distribution chains of projection mapping
manufacturers which resulted in the loss of their operations. The market is
expected to benefit from the strategies adopted such as several developments,
launches, and innovations by the market players in the projection mapping
industry.
For instance, in 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. Additionally, in
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.
Related Press Release@ Projection Mapping Market Report
Projection Mapping Market
Report Highlights
- In terms of dimension, the 3D projection segment held the largest
revenue share in 2021 and is projected to retain its dominance over the
forecast period. The growth of the segment is attributed to the increasing
adoption rate of 3D over 2D by audiences as it has a higher potential in
providing higher audience engagement. Moreover, combining 3D projection
mapping and AR technologies offer an enhanced digital experience. The 2D
and 4D segments are anticipated to grow at a CAGR of 9.8% and 14.7%
respectively over the forecast period
- In terms of throw distance, the standard throw segment held the
largest revenue share in 2021 and is projected to maintain its position
over the forecast period. The market growth of this segment is attributed
to the increasing adoption of standard throw projectors which provide
large images and are placed at a distance from the screen to attract large
audiences, tourists, and several others in various media, hospitality, entertainment,
museums, and others sectors. The short-throw segment is likely to register
a CAGR of 10.2% over the forecast period
- In terms of application, the events segment dominated the market in
2021 and is projected to maintain its dominance over the forecast period.
The market growth of this segment is mainly due to the increasing adoption
of projection mapping by most sectors for advertisement, promotion,
launches, sports opening ceremonies, and others. The rental and staging
segment is likely to register the highest CAGR of 13.2% over the forecast
period
- Asia Pacific dominated the market in 2021 and is expected to
witness a CAGR of 12.1% over the forecast period. The market growth of the
region is primarily due to the increasing investment by the government as
well as private organizations to support and introduce advanced technology
use across the region. North America held a market share of 26.5% in 2021
and is expected to grow at a CAGR of 10.3% over the forecast period. This
is due to the existence of a large number of market players and the
standard of living and spending behavior related to entertainment, and
tourism in the region
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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