Projection mapping has bright future according to two new reports

The global projection mapping market to reach $8billion by 2026 and could hit $12bn by 2027, according to two new industry research reports published in recent weeks.

In its latest report, IndustryARC predicts that the projection mapping market is expected to reach US$8.1 billion after growing at an estimated CAGR of 22.3% during 2021-2026.

North America is seen to be the major region with a share of 44% in 2020 for this market, owing to the legacies of offering immersive entertainment experiences, early adoption of VR technology, and enormous demand from high-profile projects. The events/festivals segment will hold the largest share of 51% during the forecast period 2021-2026 owing to the demand for big-screen visuals for entertainment and oversized AV content across various business enterprises.

IndustryARC names the 5 players in the projection mapping industry as;

1. BenQ 
2. Christie
3. Digital Projection
4. Panasonic
5. AV Stumpfl

In research published by in its report entitled Global Projection Mapping Industry, it estimates the market to be worth $3bn in 2020, and it is projected to reach a revised size of $12.1bn by 2027, growing at a CAGR of 21.3% over the period 2020-2027.

Hardware is projected to record 20.2% CAGR and reach $6.6bn by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the software segment is readjusted to a revised 22.7% CAGR for the next 7-year period.

The projection mapping market in the U.S. is estimated at $915.5 million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $2.1bn by the year 2027 trailing a CAGR of 20.9% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.8% and 18% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.4% CAGR.

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