Portable Projector Market Size, Share, Growth Analysis, By Technology(Digital Light Processing (DLP), Liquid Crystal on Silicon (LCoS), Laser Beam Steering, Holographic Laser Projection), By Application(Business, Education, Consumer Electronics, Others), By Region - Industry Forecast 2024-2031

Portable Projector Market size was valued at USD 1.57 billion in 2019 and is poised to grow from USD 1.69 billion in 2023 to USD 3.2 billion by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).

There are numerous small and large providers in the highly competitive portable projector market. Most of the time, these vendors compete on the basis of their offerings, innovations, performance, cost, quality, selling price, financial stability, and distribution system. On organic business growth tactics including new product launches, product improvements, product approvals, etc., a number of significant companies focus. Other effective company growth tactics that major players have implemented to strengthen their position in the global market include strategic alliances, collaborations, acquisitions, and mergers. These tactics have made it possible to grow both the business and the loyal consumer base. 'Acer Inc.', 'Aiptek International Inc.', 'Anker Innovations Limited', 'ASUSTek Computer Inc.', 'BenQ Corporation', 'Canon Inc.', 'Casio Computer Co. Ltd.', 'Dell Technologies Inc.', 'Epson America, Inc.', 'Hitachi Ltd.', 'LG Electronics Inc.', 'Panasonic Corporation', 'Philips International B.V.', 'Samsung Electronics Co. Ltd.', 'Sony Corporation', 'Toshiba Corporation', 'ViewSonic Corporation', 'Xiaomi Corporation', 'ZTE Corporation', 'ZTE Spro'

With the development of technology, portable projectors are no longer bulky, complicated, and difficult-to-use gadgets that provide subpar quality and strange effects. They are portable and simple to use for commercial, academic, and recreational applications. Modern portable projectors come with memory devices to save pertinent data and an internet connection. Additionally, portable projectors have simple USB, HDMI, and MHL connectors that may be connected to tablets, computers, and smartphones for easy information access. Additionally, portable projectors feature built-in speakers and batteries and offer high resolutions, such as HD and full HD, for improved picture quality. These gadgets fit neatly in pockets, which is one of the key aspects driving the growth of the portable projector market. In fact, they are becoming a practical choice for home entertainment because portable projectors can be purchased for a fair price,. They are primarily purchased based on their portability, convenience, and price points. These days, businesses now sell high-quality 2D and 3D portable projectors that use less electricity and produce little heat.

One of the major trends in the global portable projector market is to develop portable projectors that can cater to different applications and make projectors more travel friendly. This is a result of the transforming lifestyles into technologically driven preferred lifestyles in the current era. Educational institutions use cutting edge technology where portable projectors can be used. The latest example is of the Freestyle Projector launched by Samsung.

Given the huge demand for consumer electronics in the region, North America is most expected to account for a sizeable portion of the global portable projector market. The United States makes a large investment in the introduction of cutting-edge technologies and high-end equipment in the educational field. The majority of the people in the region have access to cell phones, computers, and other cutting-edge tools for their education. Due to the region's significant consumer electronics sector, which is the primary use for portable projectors, North America has been a significant contributor to the growth of the entire portable projector market. The US makes enormous investments in the adoption of cutting-edge technological tools in the educational field. Since the majority of students have access to computers or cell phones, students' ability to adapt to and embrace new technologies contributes to both their academic and personality development. However, due to COVID-19's negative effects on the commercial and infrastructure sectors, the US is anticipated to experience a considerable decline in the size of its market in 2020. The closure of educational institutions and halted operations in the corporate sector could have a significant impact on the adoption of portable projectors in 2020.