LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global projector screen market to grow at a CAGR of more than 16% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global projector screen market for 2017-2021. In addition, the report discusses the major drivers influencing the growth of the global projector screen market, outlines the challenges faced by vendors, along with the key trends emerging in the market.
According to Ujjwal Doshi, a lead analyst at Technavio for consumer electronics research, “The global projector screen market is likely to experience a high growth during the forecast period, due to increased demand from corporate firms and increasing popularity of home theatre systems. The popularity of projector screens is further augmented by numerous factors such as cost efficiency, various size options and portability.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global projector screen market:
- Availability of various projector screens
- Growing adoption in nontraditional sectors
- Easy portability of projector screens
Availability of various projector screens
The global projector screen market offers multiple varieties of projection screens to end-users. Their price ranges vary with different sizes and quality. Projector screens that are larger and better quality are priced higher. For instance, basic, 15 inch projector screens are priced at USD 60, whereas 220 inch and above screens are priced around USD 12,000 - USD 14,000 and include HDTV format, motorized electric operation, and ceiling recessed installation.
In addition, projector screens are available in different categories, which include wall and ceiling, fixed frame, floor rising, tripod, folding frame, electric, and rear projection screens. The availability of multiple options contributes to the growing adoption of projector screens, which, in turn, is supporting market growth.
Growing adoption in nontraditional sectors
The global projector screen market is gaining high traction in most sectors including the nontraditional sectors. The projector screen market in developed regions such as Western Europe and North America, where the adoption rate of projection screens is high, has reached saturation. However, the markets in South America, Central and Eastern Europe are still untapped and are expected to grow during the forecast period. This is attributed to the growing number of educational institutions and corporate firms, which contribute to the increasing adoption rate of projector screens in these regions.
“In addition, the growing popularity of FIFA, cricket matches, and Olympics has resulted in the increased adoption of projector screens by business customers in stadiums as well as by individual customers for their home theaters globally,” says Ujjwal.
Easy portability of projector screens
Projectors are used daily by corporate firms for presentations as well as by individuals as home theaters. These projectors can be used with fixed or portable screens. Portable screens can easily be carried from one place to another. In addition, they are available in different sizes, starting from 15 inch to 220 inch and above, and at different prices. Thus, they are affordable for price-conscious customers.
Projector screens below 30 inches are foldable and are mostly used by travelers for hassle-free projection. Thus, there is a high demand for portable projector screens owing to their convenient depiction of digital content, which in turn, supports the growth of the global projector screen market.
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