Inthe first quarter of 2024, the world has shown signs of financial recovery,with most economies achieving positive GDP growth.
Areflection of this recovery is data from RUNTO, which shows global projectormarket shipments reached 4503K units in the first quarter of 2024, ayear-on-year increase of 2.4%.
Global Projector Market Quarterly Shipments, 2023-2024Q1
Datasource: RUNTO, Unit: K
Home Projector Market is the Main Source ofGrowth
Therapid penetration of home projectors is the main driver of overall marketgrowth. In the early stages of projector development, they were predominatelyused in the business or education sectors.. However, in recent years thesignificant improvement in the intelligence and image quality of projectors hasseen them gain far more prominence with consumers.
Accordingto data from RUNTO, shipments in the home projector market reached 3833K unitsin the first quarter of 2024, a year-on-year increase of 8.5%.
Incontrast, the commercial projector has been affected by reduced corporateprocurement and engineering projects. Additionally, the emergence ofdifferentiated competing products such as corporate interactive boards, LEDdisplays, and conference TVs, as well as the cross-scenario application of homeprojectors, have impacted the market space of commercial projectors.
Inthe first quarter of 2024, shipments in the commercial projector market were670K units, a year-on-year decrease of 22.7%.
Global Projector Market Quarterly Shipments by Scenario, 2023-2024Q1
Datasource: RUNTO, Unit: K
The Brand Concentration in the Global ProjectorMarket is Low
Datafrom RUNTO also found that, in the first quarter of 2024, the top four brandsin the global projector market were Epson, XGIMI, JMGO, and ViewSonic, with acombined market share (CR4) of 19.3%. This indicates a dispersed competitivemarket.
Bothin China and overseas markets, there are many small and medium-sized brandsmainly targeting e-commerce platforms, occupying a market share with low-end,low-price products, which lowers the brand concentration.
XGIMI Ranks First in the Global Home ProjectorMarket
XGIMI,a Chinese brand, ranks first in shipments in the global home projector market.It has long been the leader in the Chinese market but has accelerated itsexpansion overseas in recent years. XGIMI has continuously increased theproportion of self-developed core components and now has the capability todevelop and mass-produce both light engines and complete projectors. Itsproducts have entered markets including Japan, Europe, and the United States.In addition to online channels Amazon and Rakuten Japan, it also covers offlineretail channels including BestBuy, MediaMarkt, Saturn, Fnac, Darty, and ElCorte Inglés.
Market Share of Major Brands in the Global Home Projector Market, 2024Q1
Datasource: RUNTO, Unit: %
Inthe global commercial projector market, the Japanese brand Epson holds aleading position. Epson's outstanding advantages are its early market entry andcomplete supply chain.
Shipments Expected to Approach 9350K Units in2024H1
Despitethe uncertain impacts of geopolitics and conflicts that have plagued 2024,positive signals are emerging. 2024 is a big year for sports, with events suchas the Olympics, Copa América, and UEFA Euro boosting business transactions andconsumer sentiment. The impacts of these events on the projector market will betwo-fold. Firstly they will drive the recovery of the commercial projectormarket for engineering and cultural tourism projects. But also,event promotionswill stimulate consumers to purchase or upgrade large-screen devices for betterviewing experiences.
RUNTOforecasts that the global projector market will continue to perform well. Inthe half year of 2024, shipments will be 9350K units, a year-on-year increaseof 4%.
Note:This is an excerpt from the report. For the full version, please contact RUNTO.
Keyword： AIoT
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