Large venue and installation segment secures most valuable for projection, with value climbing by 5.2% in Q4 2022

While the overall market for projection is still navigating challenges left over from the pandemic, from economic insecurity to a change in corporate working habits, Q4 of 2022 saw Large Venue and Installation further cement its position as the most valuable segment. The 6000+ lumens segment grew by 5.2% in value terms to $135m in CY2022 Q4, according to a recent report by Futuresource Consulting. 

Projection has been long regarded now as a mature technology. However, as the team saw at ISE in February, the industry is keen to showcase their new product lines to fit these new use-cases. 

Confidence in large venue to create future opportunities 

Artistic exhibitions are carving out new avenues for the future of projection, with museums and cultural hubs utilising projectors for immersive art experiences. 

“Exhibitions and other cultural applications have proved wildly popular around the world, which has very much been the good news story for the projection industry,” says Freddie Mossop, analyst at Futuresource Consulting. “This is helping drive growth in the 10k-15k, 15k-20k, and 20k+ brightness specifications, which manufacturers have been keen to capitalise on.” 

The adoption of LaPh solutions in this segment has also been quicker than other product segments, favoured again for its higher-brightness capabilities. 

“Overall, we’re seeing a great willingness to invest in these high-value projectors. Confidence within the sector is high, and the market appears primed to go the distance,” says Mossop. 

Corporate spaces suffer decline 

Despite the promise of artistic installations, investment in corporate spaces is falling short. This will inevitably dampen the volume of all corporate shipments, even if those which are sold go for higher prices. These markets are increasingly favouring flat panel and consumer TVs, as they continue to fall in price, as well as a general hesitancy to invest in office spaces during such economic uncertainty. 

“Despite declining investments, there are always going to be corporate spaces that remain are best serviced by projection technology. Most of these are large meeting rooms, and Futuresource’s end-user research affirms that projection technology is the firm favourite for companies of all sizes,” says Mossop. 

“It’s also important to note the vast installed base of projectors in corporate spaces. In many ways, it’s far easier to upgrade these to a newer, high-brightness laser projector than to a rival technology of flat panel, interactive or increasingly even LED. This is, however, set to diminish as the advent of LaPh projectors lengthens the replacement demand cycle.” 

Emerging markets in APAC and beyond bring success 

Countries such as Vietnam, Malaysia, and Thailand were the bright spots in APAC during Q4 of 2022. These nations saw large jumps of Mainstream B2B products shipped, although China still generates the lion’s share of demand, making up 37.3% of total APAC sales. The region as a whole matched the is in decline, but key countries such as India should not be overlooked, where they have shown an increasing appetite for projection technology. 

Q4 2022 retains existing patterns of decline – though much still to be made 

The overall market for front projection achieved an overall value of $5.9bn in 2022, with 1m units sold in Q4. Looking to the future, intel from Futuresource Consulting’s new report estimates sales to land at 3.2 million projectors by 2027. Despite difficulties, long-term opportunities remain in products with higher specifications, and therefore a higher price tag. 

For more information on Futuresource Consulting’s Q4 2022 Front Projector Report, or to make a purchase, please contact ben.thrussell@futuresource-hq.com

About the author

Freddie Mossop

Freddie Mossop joined Futuresource as a research analyst in 2021, responsible for researching and reporting on the worldwide projection market, as well as other Display technology. Prior to Futuresource, he graduated with a BA in Business Management from Nottingham Trent University.