Shulou(Shulou.com)11/24 Report--

CTOnews.com, March 8, according to data from RUNTO, the global projector market shipped 17.83 million units in 2022, an increase of 15.2% over the same period last year. It is predicted that global shipments of projectors will exceed 20 million units for the first time in 2024, 25.26 million units in 2026 three years later, and a compound growth rate of 10.3% between 2021 and 2026.

The rapid penetration of 10,000 sets of household products in the global projector market from 2020 to 2026 is the main driving force driving the overall market growth. In the initial stage of the development of projection equipment, office, education and other commercial scenes are the main. In recent years, with the substantial improvement of the intelligence level and picture quality level of the projection machine, the application scene has rapidly expanded to the consumer scene. Data show that in 2022, the global home projector market accounted for more than 80 percent, with shipments of 14.53 million units, an increase of 21 percent over the same period last year.

The corresponding commercial market was greatly affected by the epidemic, with reduced demand for corporate procurement and engineering projects, as well as competitive products such as interactive tablets and commercial televisions. Global shipments of 3.3 million commercial projectors in 2022 were down 5% from a year earlier.

In the future, the market share of household products will continue to increase, and it is expected to exceed 85% in 2024 and close to 90% in 2026, reaching the equilibrium point. Factors such as the rejuvenation of the main consumer force, the large screen display demand and the intelligence of household demand determine that household products will continue to occupy a dominant position in the market, and the scale increment of the projector market in the future will still be "entering the house".

2020-2026 global projector market by shipments scene structure, unit:% sub-regional point of view, Chinese mainland is the world's largest consumer market for projectors. Data show that shipments of Chinese mainland projectors in the market reached 7.64 million units in 2022, an increase of 4 percent over the same period last year. Due to repeated spread of the domestic epidemic, the year-on-year increase was lower than that of the world. China accounts for 42.8% of the global market, down 4.7 percentage points from last year.

Compared with China, consumers in developed areas have a stronger camping and party culture, and the potential demand for large screen projection products is strong. North America is the second largest market in the world, and the United States has strong consumer resilience. In order to stimulate the economy to countercyclically adjust, a large number of personal subsidies have been issued, resulting in a substantial increase in residents' disposable income. Demand has basically returned to pre-epidemic levels, and the proportion of projector shipments in North America reached 18.5% in 2022.

Singapore, Japan, South Korea, and Taiwan chose to relax epidemic control earlier, so projector shipments in the Asia-Pacific region recovered in time, accounting for 16.4% of shipments in 2022.

The economic development of Western and Eastern Europe has entered a "long-term recession", superimposed by the conflict between Russia and Ukraine and high inflation, household consumption has suffered an impact, and the proportion of shipments in the global market has declined accordingly.

In addition, the 2022 Qatar World Cup led to an increase in the share of projector shipments in Latin America and Central and East Africa, accounting for 3.1% and 5.0% of the global market, respectively.

From 2021 to 2026, the global projector market is based on the regional structure of shipments. China has a great influence in the global projector market. From 2018 to 2019, China exported more than 7 million projectors overseas every year.

From the perspective of channels, export products are mainly online sales, such as Amazon, brand independent stations and so on. In 2021, Amazon closed a large number of Chinese small and medium-sized enterprises that went out to sea to crack down on brushing and manipulating comments. as a result, market sentiment fell into pessimism that year, with exports falling from 10 million a year to about 5 million in 2022. As the negative impact fades, and with the blessing of the World Cup, the export scale has picked up.

From the product point of view, the projection products exported by small and medium-sized enterprises are mainly 1LCD technology, and the price of the products is about $100 (CTOnews.com Note: currently about 696 yuan), and the performance price is relatively high. At the same time, the product configuration and technology content are constantly improving, while the content side is expanding the streaming media copyright. For example, Xiaoming and Ke Jinming have been licensed by Netflix.

According to the data, China's export of projectors rebounded to 6.48 million units in 2022, while it is predicted that it will maintain a steady growth trend in the next few years and return to more than 10 million units by 2025.

China's export scale of projector market from 2018 to 2026, unit: ten thousand sets of product technology: monolithic LCD technology dominates projection technology, including DLP, 1LCD, 3LCD and LCOS. DLP, namely digital light processing technology, uses DMD digital microreflector as light valve imaging device; LCD, liquid crystal projection technology, is that the projector uses the photoelectric effect of liquid crystal, that is, the arrangement of liquid crystal molecules changes under the action of electric field, which affects the light transmittance or reflectivity of its liquid crystal unit; LCOS, that is, silicon-based liquid crystal technology, is the use of semiconductor technology to make driving panels on silicon wafers.

1LCD dominates the global projector market, with 1LCD accounting for 61.8% of the global market in 2022, up 7.7% from 2021, according to RUNTO.

On the one hand, the reason for the highest proportion and growth of 1LCD lies in the localization of the supply chain in the largest Chinese market, which is completely free from foreign monopoly compared with other technologies, and the cost is controllable and the R & D motivation of enterprises is stronger. In the past two years, display panel enterprise BOE entered the bureau, self-research and development of optical machine to improve the brightness and other display effects; export enterprise Ke Jinming promoted the research and development of LCD technology to promote the overall performance upgrade; the main control board card manufacturer Siyuan shares launched a variety of cost-effective products that can achieve intelligent correction function. In terms of OEM, BOE Video, Chuangrong and other new modern production lines have greatly improved production capacity and efficiency.

On the other hand, the reason lies in the high performance-to-price ratio of 1LCD products, which is favored by young consumers and sinking market consumers, the overall performance of superimposed products continues to improve, and the market has broad prospects for improvement and development. 1LCD's market share is expected to reach 70 per cent by 2026.

DLP technology has the advantages of high contrast, high dust prevention, high reaction speed, and can achieve high brightness in small volume, leaving room for innovative design for enterprises. On the one hand, TI, which dominates DLP technology, has introduced projection chips of different types and sizes that can meet different scenes, and the layout is quite perfect; on the other hand, the technology is exclusively supplied by Texas Instruments, so its share is relatively stable and is expected to remain around 20-25% in the future.

3LCD has the advantages of good color saturation, rich layers and good color separation, and the core technology is in the hands of Sony and Epson. In recent years, Epson has increased its support for household projection products and laser light source products, is more active in the layout of the product line, and continues to expand in shipping channels and application programs. At the same time, more brands such as Guangfeng and Vimel have joined the 3LCD camp, driving its market share to 12.6% in 2022. Although the share will not change much in the next few years, shipments will continue to grow.

From 2021 to 2026, the global projector market is based on the technical structure of shipments, in% product light source: the rise of laser light source, accounting for 10% of the projection light source in 2026 mainly includes LED lamp, laser and mercury lamp. Among them, LED lamp has the characteristics of low energy consumption and long life, and can achieve appropriate brightness in a smaller volume, so it is the mainstream type of light source, accounting for 71% of the global market share in 2022.

The bulb light source is mature, can achieve higher brightness and lower cost, and is widely used in the commercial market, especially in the conference scene, accounting for nearly 20% in 2022. As the proportion of commercial scenarios continues to be squeezed, the share of light bulbs will also continue to decline and is expected to fall to about 10 per cent in 2026.

Laser light source as a new light source technology, higher brightness, better color display effect, with the continuous reduction of costs, the growing industrial camp, foreign brands such as Epson, Otto code, Panasonic, NEC, Sony, LG, etc., domestic brands such as Hisense, Guangfeng, Changhong, polar rice, nuts, Dangbei and so on have a layout. According to RUNTO, global laser projection shipments reached 1.45 million in 2022, an increase of 24% over the same period last year and higher than the overall market growth rate. By 2025, it will exceed 2 million; market penetration will increase from 8 per cent in 2022 to 10 per cent in 2026.

2021-2026 global projector market according to shipments light source structure, unit:%

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