Advanced Cinema Projector Market to Exceed USD 1,861.33 million by 2028, Says The Insight Partners

PUNE, India, Oct. 5, 2021 /PRNewswire/ -- According to The Insight Partners study on "Advanced Cinema Projector Market to 2028 – COVID-19 and Global Analysis and Forecast – by Illumination Source, End User, Resolution, Lumens, and Geography," the Advanced Cinema Projector Market is projected to reach US$ 1,861.33 million by 2028 from US$ 1,100.69 million in 2021; it is expected to grow at a CAGR of 7.8% during 2021–2028. The advanced cinema projector for residential application is constantly gaining popularity in the market as customers are curious to have high quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as a home theater application. Also, lockdowns initiated by the governments to prevent the spread of COVID-19 has further propelled the demand for advanced cinema projectors. As a result, the customers are purchasing new home entertainment products such as advanced cinema projectors to enjoy their time indoors amid the pandemic. For instance, in September 2020, BenQ introduced new BenQ TH585, a Full HD Home entertainment projector, in India. This new projector provides high resolution and high picture quality for customers to watch movies and shows on the screen at home.

Emphasis on Development of Next Generation Cinema Projectors to Provide Growth Opportunities for Advanced Cinema Projector Market 

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With the installation of high-quality projector, projector screen and audio equipment, the customer can have an entertainment setup at home which is comparable to cinema halls/theaters. A few of the prominent projector brands used for home theaters are Sony Corporation, Epson, Optoma, Viewsonic Panasonic, JVC, and BenQ. The growing interest toward the adoption of advanced cinema projector for residential application is expected to drive the Advanced Cinema Projector Market during the forecast period.

Rising Adoption of Advanced Cinema Projectors across Residential Sector Globally to Drive Advanced Cinema Projector Market Growth During Forecast Period

The advanced cinema projector for residential application is constantly gaining popularity in the Advanced Cinema Projector Market as customers are curious to have high quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as a home theater application. Also, lockdowns initiated by the governments to prevent the spread of COVID-19 has further propelled the demand for advanced cinema projectors. As a result, the customers are purchasing new home entertainment products such as advanced cinema projectors to enjoy their time indoors amid the pandemic. For instance, in September 2020, BenQ introduced new BenQ TH585, a Full HD Home entertainment projector, in India. This new projector provides high resolution and high picture quality for customers to watch movies and shows on the screen at home.

With the installation of high-quality projector, projector screen and audio equipment, the customer can have an entertainment setup at home which is comparable to cinema halls/theaters. A few of the prominent projector brands used for home theaters are Sony Corporation, Epson, Optoma, Viewsonic Panasonic, JVC, and BenQ. The growing interest toward the adoption of advanced cinema projector for residential application is expected to drive the Advanced Cinema Projector Market during the forecast period.

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Advanced Cinema Projector Market: Segmental Overview

Based on illumination source, the advanced cinema projector market is bifurcated into Lamp and RGB Pure Laser. The RGB pure laser segment led the market in 2020. The lamp cinema projectors are manufactured with the ultimate precision by integrating the most advanced technologies and techniques. These lamp projectors are precisely tested to check that they ignite accurately with all the electrical characteristics that meet all the standard and specifications. During the time of manufacturing, 100% inspections are being done at multiple stages to guarantee that the ultimate quality is offered to the customer. Additionally, the advanced vision systems are integrated with the lamp projectors to offer active operator feedback and ensure comprehensive uniformity. Therefore, extensive training and certification is mandatory for all the operators to operate digital cinema lamps. A few of the market players offering lamp projectors are Delta Electronics, Inc.; InFocus Corporation; and Panasonic Corporation.

Advanced Cinema Projector Market: Competition Landscape and Key Developments

Barco NV; BENQ Corporation; Christie Digital; Delta Electronics, Inc.; Hitachi Ltd.; Infocus Corporation; LG Electronics Inc.; Optoma Corporation (Coretronic Corporation); Panasonic Corporation; and Sharp Corporation are among the key players that were profiled during Advanced Cinema Projector Market study. The market players are adopting strategies such as product developments, partnerships, mergers and acquisitions, and collaborations for sustaining the competitive edge.  

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In 2021, Cinionic (Barco NV) entered a partnership with Cine Colombia. The deal is a culmination of ongoing support by Cinionic for Cine Colombia, the largest exhibitor in Colombia, with 339 cinema screens across 46 locations.

In 2021, Sharp NEC Display Solutions Ltd. launched a new NEC NC1802ML, an 18,000-lumen digital cinema projector. It is available with replaceable laser modules.

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