Press release
Projection Mapping Market Outlook Report 2024-2033: Trends, Analysis, Insights, Overview
Projection Mapping Market Outlook
Projection Mapping Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.75 billion In 2028 At A CAGR Of 19.3% :
The projection mapping market size has grown rapidly in recent years. It will grow from $3.21 billion in 2023 to $3.83 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to surging demand for various applications, entertainment industry demand, corporate events and exhibitions, increased adoption in advertising, technological improvements in image processing.
The projection mapping market size is expected to see rapid growth in the next few years. It will grow to $7.75 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to expansion of experiential marketing, rise of interactive projection mapping, increasing demand in retail and hospitality, increasing disposable income boosting market growth of projection mapping, rise in social media platforms exposing a multitude of different datasets. Major trends in the forecast period include advancements in projection technology, growth in augmented reality (ar) and virtual reality (vr), integration with 3d mapping and modeling, integration with spatial computing, projection mapping for architectural visualization.
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Projection Mapping Market Major Segments
The projection mapping market covered in this report is segmented -
1) By Offering: Hardware, Software.
2) By Dimension: 2-Dimension, 3-Dimension, 4-Dimension.
3) By Throw Distance: Short Throw, Standard Throw.
4) By Application: Media Events, Venue Openings, Entertainment, Product Launches, Retail, Other Applications.
Key Driver - Elevated Adoption Of Projection Mapping In Media Events Fuels Market Expansion
The increasing adoption of projection mapping in media events is expected to propel the growth of the projection mapping market going forward. Projection mapping refers to a video projection technique in which video footage is mapped onto a surface, turning common objects such as buildings, runways, stages, and even water into astonishing displays. Projection mapping helps the media engage their audience through visual aesthetics. Using projection mapping for media events can also save you money. For instance, according to the US Bureau of Labor Statistics, a US-based department of labor, for the year 2021, the annual wage for meeting, convention, and event planners was $49,470. This media industry is projected to grow by 18% by the end of 2030. It is also said that, on average, 16,400 opening meetings are held every year. Therefore, the increasing adoption of projection mapping at media events is driving projection mapping market growth.
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Prominent Trend - Augmented And Virtual Reality Integration Drives Innovation In The Projection Mapping Market
The use of augmented and virtual reality is a key trend in the projection mapping market. Major companies operating in the projection mapping services market are focused on creating a cohesive experience through augmented and virtual reality to strengthen their position in the market. A person can interact with an artificial three-dimensional (3-D) visual or other sensory environment in virtual reality (VR), which uses computer modeling and simulation. Using digital visual components, music, or other sensory cues, augmented reality (AR) creates an improved representation of the current world that is transmitted through technology. To project any desired picture onto the surface of that item, the program can work with a projector. Due to this, users can view augmented reality (AR) content without the use of head-mounted AR glasses or other portable AR-enabled devices (smartphones). By using specialized software, a two- or three-dimensional object is spatially mapped onto the virtual program, which mimics the real environment it is to be projected onto. For instance, in October 2021, Nextech AR Solutions Corp. announced the opening of its mini-metaverse at the City of London's Harmony at London Wall Place. Nextech's ARway spatial mapping technology and software development kit enable the City of London Metaverse (SDK).
Projection Mapping Market Players
Major companies operating in the projection mapping market report are AV Stumpfl GmbH, Barco NV, BenQ Corporation, Christie Digital Systems USA Inc., Digital Projection Limited, Seiko Epson Corporation, Panasonic Corporation, NEC Display Solutions Ltd., Optoma Corporation, Sony Group Corporation, Green Hippo Ltd., d3 Technologies Ltd., Coolux GmbH, VYV Corporation, Disguise Technologies, Delta Electronics Inc., Lightform Inc., NuFormer B. V., Magic Innovations Inc., Ventuz Technology AG, WorldStage Inc., Bartha Audio Visual Inc., Blue Pony Digital LLC, Production Resource Group LLC, UVA Imaging, Obscura Digital LLC, Holocube North America LLC, RUSH Design Inc., Interactive Audio Visual Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the projection mapping market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the projection mapping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Projection Mapping Market Report Structure
3. Projection Mapping Market Trends And Strategies
4. Projection Mapping Market - Macro Economic Scenario
5. Projection Mapping Market Size And Growth
…..
27. Projection Mapping Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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