Press release
Soaring Demand Set to Propel Projection Mapping Market to $9.12 Billion by 2029
Projection Mapping
What Is the Expected CAGR for the Projection Mapping Market Through 2025?
In recent times, the market size of projection mapping has experienced significant growth. The market value, which stands at $3.75 billion in 2024, is expected to escalate to $4.4 billion in 2025, marking a compound annual growth rate (CAGR) of 17.4%. Factors such as a surge in demand for multiple applications, the needs of the entertainment industry, corporate events and exhibitions, increased use in advertising, and enhancements in image processing technology significantly contributed to the historical growth.
What's the Projected Size of the Global Projection Mapping Market by 2029?
In the coming years, a significant expansion is anticipated in the projection mapping market, growing to a substantial $9.12 billion by 2029 with a compound annual growth rate (CAGR) of 20.0%. This predicted surge is attributed to several factors such as the extensive application of experiential marketing, the popularity of interactive projection mapping, rising demand in the retail and hospitality sectors, and an upward trend in disposable income that is driving the growth of the projection mapping market. The exposure to a vast array of data through social media platforms has also been significant. On top of all these, key trends projected to be influential in the forecast period include the evolution in projection technology, the traction gained by augmented reality (AR) and virtual reality (VR), the incorporation of 3d mapping, modeling, spatial computing, and the utilization of projection mapping for architectural visualization.
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Top Growth Drivers in the Projection Mapping Industry: What's Accelerating the Market?
The potential for growth in the projection mapping market is expected to be fueled by the higher rate at which it's being adopted for media events. Projection mapping is a method of video projection that involves the mapping of video content onto various surfaces, transforming ordinary objects such as water, runways, buildings, and stages into remarkable showcases. It's a tool that allows the media to captivate their audiences through stunning visual effects and can prove to be a cost-effective solution for media events. A data projection from August 2024 presented by the International Trade Administration, a government agency in the U.S., disclosed that the U.S. Media and Entertainment (M&E) industry, worth $649 billion at the moment, is expected to escalate to $808 billion by 2028. This translates to an average annual growth rate of 4.3%. As a result, the growing uptake of projection mapping for media events is a critical factor propelling the projection mapping market's expansion.
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What Trends Will Shape the Projection Mapping Market Through 2029 and Beyond?
Big players in the projection mapping marketplace are making strategic alliances to boost their technology prowess, increase their market footprint, and provide more inventive and immersive visual experiences in diverse sectors. In July 2024, Panasonic Connect Co., Ltd, a firm based in Japan dedicated to supplying projection mapping systems, entered into a capital partnership with ORIX Corporation. As part of the agreement, Panasonic will hand over its projector business and amalgamate its projector tech with ORIX's financial acumen and investing experience to start a fresh company. The freshly launched firm will have its shares divided as such - 80% to ORIX and 20% retained by Panasonic Connect. ORIX Corporation is a financial service provider located in Japan.
What Are the Main Segments in the Projection Mapping Market?
The projection mappingmarket 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 Top Companies are Driving Growth in the Projection Mapping Market?
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 Will Dominate the Projection Mapping Market Through 2029?
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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