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Projection Mapping: Core Growth Enabler in the Elevated Adoption Of Projection Mapping In Media Events Fuels Market Expansion Market, 2025
Projection Mapping
What Will the Projection Mapping Industry Market Size Be by 2025?
The market size for projection mapping has seen significant expansion in the recent past. The forecast predicts an increase from $3.75 billion in 2024 to $4.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.3%. This impressive growth during the historical period can be related to escalating needs across diverse applications, demand from the entertainment industry, corporate events and exhibitions, a rise in usage in the advertising sector, and advancements in image processing technology.
What's the Long-Term Growth Forecast for the Projection Mapping Market Size Through 2029?
In the coming years, the market size for projection mapping is predicted to skyrocket. It is anticipated to reach a value of $9.4 billion by 2029, with a compound annual growth rate (CAGR) of 20.7%. The expansion can be credited to the broadening of experiential marketing, the upsurge of interactive projection mapping, along with growing demand in retail and hospitality sectors. Increased disposable income further stimulates the projection mapping market growth, as does the ascent of various social media platforms revealing diverse data sets. Significant trends predicted for this forecast period integrate advancements in projection technology, development in augmented reality (AR) and virtual reality (VR), fusion with 3D mapping and modeling, aligned with spatial computing, and the use of projection mapping for architectural visualization.
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What Are the Key Growth Drivers Fueling the Projection Mapping Market Expansion?
The rising use of projection mapping at media events is anticipated to fuel the expansion of the projection mapping market in the future. Projection mapping is a video projection method where video clips are mapped onto surfaces, transforming mundane objects like buildings, runways, stages, even water into spectacular visuals. This technology allows media organizations to captivate their audiences through visual artistry, and it may also provide a cost-effective solution for media events. For instance, as reported by the International Trade Administration, a U.S. government agency, in August 2024, the U.S. Media and Entertainment (M&E) industry, presently valued at $649 billion, is forecasted to escalate to $808 billion by 2028. This signifies an average yearly growth rate of 4.3%. As a result, the growing usage of projection mapping at media events is a substantial driver of projection mapping market expansion.
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What Are the Key Trends Driving Projection Mapping Market Growth?
In the projection mapping market, leading enterprises are forming tactical alliances to improve their tech prowess, broaden their commercial footprint, and offer more creative and engaging visual experiences across multiple sectors. In July 2024, a partnership was formed between Panasonic Connect Co., Ltd, a firm based in Japan specialized in supplying projection mapping systems, and ORIX Corporation. Through this collaboration, Panasonic will transition its projector business, merging its projector technology with ORIX's robust financial base and investment expertise to build a new corporation. This newly formed corporation will see ORIX owning 80% of the shares, while Panasonic Connect will hold on to 20%. ORIX Corporation is a financial services company also based in Japan.
How Is the Projection Mapping Market Segmented?
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.
Subsegments:
1) By Hardware: Projectors, Media Servers, Mounting Equipment, Other Hardware Components
2) By Software: Content Creation Software, Mapping Software, Control Software, Other Software Solutions
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Which Companies Are Leading the Charge in Projection Mapping Market Innovation?
Major companies operating in the projection mapping market include 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.
Which Regions Are Leading the Global Projection Mapping Market in Revenue?
North America was the largest region in the projection mapping market in 2024.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
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