Global Projection Mapping Market Size, Trends, and Analysis - Forecasts To 2026 By Offering (Hardware [Projector, Media Server], Mapping Software), By Throw Distance (Short Throw, Standard Throw), By Dimension (2-Dimension, 3-Dimension, 4-Dimension), By Application (Events, Festival, Large Venue, Retail/Entertainment, Others [Simulations, Auditoriums, and Universities]),By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Projection-Mapping Market: Insights
Projection mapping uses video projections onto buildings and other irregular surfaces to create dynamic art that is visually breath-taking. The projections are vibrant and increase the visual factor generated for the audience. Hence this has resulted in projection mapping becoming extensively used in media events, festivals, product launches, theatres, and sporting events. The recent advancements in technology have also increased their applicability and have made these projections larger and more life-like. Projection mapping has been found to leave a lasting impression on the audience and hence is used extensively in product launches to create a sense of excitement among the audience. They are used in festivals, concerts, and other screenings as an alternative to using fireworks. The environmental concerns from using fireworks can be avoided by using projection mapping. Using projection mapping, organizers can achieve spectacular art from cost-effective and low-impact means. This has seen more and more event organizers, auditoriums, and event venues install projectors that are capable of holding projection mapping events. Projection mapping vendors can provide custom options to clients that allow clients to differentiate themselves from their competitors. Tourism is being slowly explored by countries as a revenue source, the tourism industry has also begun to implement projection mapping to increase the number of tourist visits both domestically and internationally. Tourist attractions are being fitted with projectors to hold shows that increase the visual spectacle of the attraction. Projection mapping is also being used in advertisements to create dynamic adverts that leave a lasting favorable impression on the viewers about the product. With technological advancements, laser projectors are slowly being introduced as reusable and low maintenance projectors. The COVID-19 lockdown and restrictions have reduced the number of events, festivals, and other public gatherings globally. This has had a severe impact on the market as no events were being held thereby severely reducing the demand for mapping projectors but the market is expected to recover once restrictions are removed. The high cost of implementation, operation, and maintenance cost, only effective in low light scenarios i.e. during night-time, and a general lack of awareness about projection technologies are the major restraints to the global projection mapping market along with COVID-19 restrictions and lockdowns.
Projection-Mapping Market: By Offering
The two categories based on vendor offerings are software and hardware. The hardware segment includes projectors and media servers. The software segment is expected to grow at the fastest growth rate. The software section is expected to bring in more revenue as software updates are carried out regularly and new software is developed regularly. Hardware on the other hand is more permanent and does not need regular updating like software. Clients are less like to upgrade hardware regularly while they will try to have the best software possible to maintain a competitive edge over their competitors. The constant need for the latest software and updates is expected to drive this segment and result in it becoming the fastest-growing segment during the forecast period.
Projection-Mapping Market: By Throw Distance
Based on the throw distance analysis, the projection mapping market can be segmented into the short throw and the standard throw. The standard throw held the dominant share of the market. As most projection mapping is carried out for large crowds and the projections occur on buildings, the clients require large images to be projected and a small throw distance will not be enough to create the required images. The standard throw projection mapping equipment is used extensively in events, festivals, tourist attractions, and other large-scale shows which have caused them to hold the largest share of the market.
Projection-Mapping Market: By Dimension
Based on the dimension the market can be segmented into 1-dimension, 2-dimension, 3-dimension, and 4-dimension. The 3-dimension segment held the major share of the market as it was extensively used to create a 3-dimension effect on a 2-dimension plane. 3-Dimension projection mapping can create a perception of depth and create effects such as crumbling, restoration, falling apart of the projection surfaces which are usually buildings, and other effects that are mesmeric to the viewer.
Projection-Mapping Market: By Application
Based on applications, the market can be divided into events, festivals, large venues, retail/entertainment, and others like simulations, auditoriums, and universities. The large venue segment held the largest share of the market among all other segments. Projection mapping is being extensively used in promotions, openings, and other functions that occur in large spaces among large crowds. Clients want to gather as many people as possible to their events and projection mapping-based shows have been proven to draw in large crowds. Tourist attractions can be enhanced using projection mapping and governments are investing in projection mapping installments to draw in larger crowds of tourists. These factors are the major drivers of the market and have resulted in large venues holding the dominant share of the market.
Projection-Mapping Market: By Region
North America held the prevailing portion of the market dependent on locale examination. The enormous number of occasions happening in the district like games, shows, celebrations, and so on has expanded the interest for projection planning in this locale. As organizers want to attract as many people as possible to maximize their profits have seen them turn to projection mapping to impress their audience. There are also a large number of event and product launches occurring in the region which have all contributed to the growth of the projection mapping in the region. The fastest growing segment is theAsia Pacific region as compared to other regions such as Middle East and Europe. The number of events being held in the region is slowly increasing with organizers turning to projection mapping to impress the crowds who are becoming hard to impress. Increased spending by governments on tourism has seen tourist attractions being fitted with projection mapping projectors to enhance the visual impact of the attractions to draw in more tourists. The number of vendors in the region has also been increasing which has made and the technology cheaper to implement and is expected to drive up the demand for projection mapping during the forecast period. There is also an increasing awareness among people about projection mapping spectacles which has forced event organizers to implement projection mapping shows to draw in larger crowds. These factors are expected to drive up the demand and result in this region becoming the fastest-growing region.
Projection-Mapping Market: Share & Competitor Analysis
The top players in the market are Seiko Epson Corporation (Japan), HeavyM (UK), Lumitrix (Czech Republic), Barco NV (Belgium), BenQ Corporation (Taiwan), Bluepony (US), Digital Projection (UK), Waters Panasonic Corporation (Japan) and ViewSonic (US).
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Projection Mapping Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Projection Mapping Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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