LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global home theater projector market report. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
The global home theater systems market is expected to grow at a CAGR of 8.36% during the forecast period, and reach around USD 29 billion by 2020. This growth can be attributed to the growing preference for at-home entertainment systems, increasing number of smart homes, and rise in wireless streaming of audio content. In 2015, the Americas accounted for most the market, with the US being the key revenue-generating country in terms of unit shipment.
The global home theater projector market is characterized by the need for products that offer good picture and product quality, and are aesthetically pleasing. Home theater projectors can fulfill both requirements, as these products offer long-term durability and an experience that is equivalent to or, even better than what televisions offer.
With the incorporation of advanced features and the assurance of high picture quality, home theater projectors will likely continue to register high demand over the next five years. The addition of connectivity features, which allow sharing movies or live shows onto the projectors via Wi-Fi, will also create more demand.
Competitive vendor landscape
The global home theater projector market is highly fragmented with the presence of both well-established global vendors and local players. With rising competition, manufacturers are developing innovative products to meet the changing lifestyles of consumers. Celebrity endorsements continue to be one of the key techniques used by manufacturers to showcase new trends in the market.
“The competition in the market is expected to intensify during the forecast period, with many key companies focusing on product launches, price wars, and mergers and acquisitions. However, the presence of counterfeit products is a major challenge that needs to be addressed,” says Poonam Saini, a lead retail goods and services analyst from Technavio.
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Top five home theater projector market vendors
BenQ offers consumer electronics, technology products, and communications and computing devices under the brand name BenQ. Its major products in the market include digital projectors, professional monitors, LED lighting, and interactive large-format displays.
In June 2016, BenQ introduced its W2000 and W3000 DLP (digital light processing) projectors in India, which are equipped with Rec 709 HDT standard for HD color reproduction. These projectors offer a short-throw ratio of up to 100 inches. These also support 1080p complete HD optimized optical system for advanced picture quality.
Epson develops, manufactures, sells, and offers services for visual communication products, printing solutions, wearable and industrial products, and the other business. As of March 2016, the company generated a total revenue of USD 9.69 billion.
JVC is an electronics company and is a subsidiary of JVCKENWOOD, which operates through three segments: automotive, public services, and media services. JVC is one of the leading developer and manufacturer of video and audio products.
Optoma manufactures and distributes home theater projectors in Taiwan, China, and in other international markets. Its product lines include high definition home theaters for meeting/teaching purposes, LED environmental series, for games/TV, and high-definition screen projectors, as well as fitting projectors comprising 3D, wireless, and other projectors. The company offers its products and services to the business, home, mobile, and education industries.
Sony designs and develops electronic equipment and devices for professional, consumer, and industrial markets worldwide. As of March 2016, the company generated a total revenue of USD 67.54 billion. It offers home theater projectors through its home entertainment and sound segment.
All product names, brands and trademarks are the property of their respective owners.
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