LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global portable projection screen market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global portable projection screen market for 2017-2021. The report also lists table top, tripod, floor standing, inflatable and pico projector screens, as the five major product segments, of which the tripod segment accounted for close to 59% of the market share in 2016.
According to Poonam Saini, a lead analyst at Technavio for retail goods and services research, “The projector industry has been undergoing an evolution in design over the past few years from bulky projector screen models to compact and portable projector screen models. In addition, a stream of handheld projectors and embedded projectors have also been introduced in the market.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global portable projection screen market:
- Growing demand from non-traditional sectors
- Easy portability
- Growing market for pico projectors
Growing demand from non-traditional sectors
There has been growing traction for portable projection screens in sectors such as healthcare, defense, education, and government. A high rate of adoption of projection screens has been recorded in Europe and North America. However, in geographical regions such as Latin America, Central Europe, and Eastern Europe, the market is in the growth stage and is expected to escalate significantly during the forecast period due to rise in the education sector and business organizations.
Also, increasing popularity of world sporting events such as ICC cricket tournaments, FIFA, and Olympics has led to the adoption of projection screens. Apart from these, business proprietors such as cafés, restaurants, and pubs, which project such live sporting events, are emerging as key customers. Projection screens are also used by individuals at their homes for playing games and watching movies.
Portability is one of the key reasons for the growth of the global portable projection screen market. There are several entities such as schools, business corporations, and educational institutes that use these screens daily for different purposes. Also, there is a need for projection screens at multiple locations for different programs and functions. However, it is not economical to assemble wall type or fixed projector screens at different locations as organizations or institutions assembling them will incur high installation costs. Therefore, there has been a demand for portable projection screens, which can be used at multiple locations for different purposes.
“Portable projection screen projectors will experience high demand from end-consumers who wish to use them for short duration functions, short meetings, and business concerts,” says Poonam.
Growing market for pico projectors
Pico projectors are handheld devices that can project digital data on any surface such as walls, boards, or screens. These are known as pocket projectors because they are small, compact, lightweight, and easy to carry. These factors make the adoption rate of these projectors high among the education, banking, financial services, insurance, automotive, aerospace and defense, and healthcare sectors. Pico projectors are often used by end-users due to its size, form, and features. Thus, pico projectors are expected to boost the growth of the portable projection screen market, during the forecast period.
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