The APAC projector screen market is expected to grow from US$ 3,250.76 million in 2020 to US$ 6,695.14 million by 2027; it is estimated to grow at a CAGR of 11.4 % from 2021 to 2027.
Upgradation in projector screen size and layers is expected to upsurge the APAC projector screen market. The projectors screens are emerging with new innovations in size and mounting types, which fulfills the customers need for customizable solutions. A latest innovation in projector screens regarding size, positioning, and material is enhancing the APAC market growth. Few years back, the introduction of LED screens in the APAC market created certain challenges for the adoption of projector screens, but the new innovations have overcome the barriers and proved that the projector screens are still valuable solution for all end users. An enhanced brightness, resolution, and support for advanced format such as 4K, HD, and 3D are supporting the APAC market to sustain considerable growth during the forecast period. Market players across APAC region are continuously introducing new products for customers and setting new trends in the APAC market. Increasing development and growth opportunities in home cinema, gaming, and other sectors are enhancing the projector screen market in APAC. Rising technological development in projectors regarding quality, size, and resolution is supporting the growth of APAC projector screen market.
APAC is highly affected due to COVID-19 pandemic, especially in China and India. The governments in APAC countries took all possible steps to reduce the effects of the COVID-19 pandemic by announcing lockdown. The lockdown has created a negative impact on the projector screen market. Although, APAC is a house of many manufacturing plants, the lockdown in the region disrupted the production and supply of components overseas. Factory activity contracted sharply across the region in April as the COVID-19 pandemic paralyzed economic activity globally, with a sharp fall in export from countries such as Japan and South Korea overshadowing a moderate enhancement in China. Manufacturing indicators also slumped in Vietnam, Indonesia, and the Philippines, as per the Purchasing Managers’ Index surveys. China’s factory activity enhanced marginally more than anticipated in March after plunging a month earlier; however, growth was minimal, signifying the intense pressure on businesses owing to a decline in domestic and export demand. While factories in China slowly resumed operations after extended shutdowns and a reduction in virus cases enabled the country to begin relaxing travel restrictions, activity in South Korea contracted at its fastest pace in 11 years as several of the country’s trading partners imposed dramatic actions to control the virus’ spread. Also, the construction sector has been impacted significantly across the region. Such factors have negatively impacted the projector screen market in APAC.
Based on end user, the healthcare segment is expected to be the fastest growing during forecast period for APAC region. The healthcare sector across APAC region is transforming its processes into digital platforms to make operations, medical diagrams, and study procedures more appealing. Meeting rooms in hospitals are installed with advanced projectors and screens to attain better visualization of data, reports, diagrams, and others to improve the interpretability of analysis. The projectors have been increasingly adopted in the healthcare sector as there is immense need for high quality picture and video to clearly visualize the object under study or discussion. Moreover, the current COVID-19 pandemic situation has propelled the importance of virtual meetings in hospitals. The healthcare sector across APAC region is adopting advanced projector screens that require lesser space and offer high resolution. For instance, in 2018, Beijing Cancer Hospital used the dnp Supernova Core projection screens to stream live surgeries at a lecturing hall and was beneficial in providing live learning sessions through large screen size having profound image quality. Advantages of projector screen such as better visualization, better resolution, and high picture and video quality are expected to increase its demand from healthcare sector in coming years, which will drive the APAC projector screen market during forecast period.
The overall APAC projector screen market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC projector screen market. The process also serves the purpose of obtaining overview and forecast for the APAC projector screen market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, projector screen market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC projector screen market. Barco NV, Elite Screens Inc., Grandview Crystal Screen Co. Ltd., LEGRAND AV INC., Seiko Epson Corporation (Seiko Group), and Stewart Filmscreen are among a few players operating in the APAC projector screen market.