“Growing film industry worldwide will enhance the market growth”
The global advanced cinema projector market is increasing proficiently, anticipated to grow at a CAGR of 8.5% throughout the projected period from 2023 to 2030, starting from US$ 120.7 Mn in 2021.
The rapid growth of the global film industry and the rising number of digital screens is anticipated to enhance market growth. According to a recent report, in 2018, there are more than 1, 80,000 digital screens worldwide, which is around 7% growth from 2017. Rising technological advancements and fast adoption of 3D cinema are some other factors that are expected to drive the global advanced cinema projector in years to come. In 2018, the 3D box office revenue reached nearly US$ 6.7 Bn and is projected to showcase around 13% growth every year.
The benefits of advanced cinema projectors such as 3D technology, better-picture quality, conversion of 2D movies into 3D movies and others are anticipated to enhance the significant market growth during the forecast period. Increased adoption of advanced cinema projectors at residential places and auditoriums due to their flexibility, incredible brightness, color accuracy, and portability expected to further enhance the market growth in years to come. Rapidly growing film industry in the Asia Pacific region is another key factor driving the advanced cinema projector market growth. However, high installation and maintenance cost hinders the market growth during the forecast period.
“Rapid technological advancements with enhanced screen applications by top manufacturers will enhance the segment”
The commercial segment has a major share in the world advanced cinema projector market in 2021. The aforementioned segment contributed to more than 70% of the global market revenue share in the same year. Rapid technological advancements such as the advent of 3D technology in the film industry, 4K ultra-high-definition technology and others are anticipated to enhance the segment growth in years to come. The rising number of digital screens in Asia Pacific expected to give substantial growth to the segment. The increased adoption of advanced cinema projector for better picture quality at higher education classrooms, meeting rooms and other commercial places is projected to boost the market growth during the forecast period. As a result of the aforementioned factors, the commercial segment is anticipated to continue its dominance throughout the forecast period.
“Rapid increase of digital screens in Asia Pacific will enhance the market in the region”
Asia Pacific dominates the market in 2021 and contributed to over 40% global revenue share in the same year. Asia Pacific dominates the market owing to the rapid increase of digital screens in the region. Asia Pacific has more than 65,000 3D screens in 2018. China and India are the major contributors to this dominance due to the market leader in the global film industry with 1st and 2nd rank. In 2021, China recorded the highest box office revenue valued at around US$ 7.9 Bn. Rising disposable income and an increase in the number of filmgoers in the region are some other factors driving the Asia Pacific advanced cinema projector market.
Further, the growing adoption of advanced cinema projectors at offices, education industry, auditoriums and others is expected to boost the growth in the region. The advent of advanced and new technology and rising investments for the growth of multiplexes in the region are some key factors anticipated to boost the market growth to the market in Asia Pacific.
Product launch with new and advanced technology such as 4K ultra-high-definition technology and others is the major key strategy for the market players.
Key Industry Development:
List of Companies Covered:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Advanced Cinema Projector market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Technology
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Resolution
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Brightness
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End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
