The laser projection market, the overall market is expected to be worth USD 4.57 billion in 2018 and is estimated to reach USD 10.53 billion by 2023, at a CAGR of 18.2% between 2018 and 2023.

APAC is expected to lead the laser projection market. APAC is the prominent market for education and cinema segments, with main demand driven by countries such as China and India. APAC is expected to provide ample prospects for the market growth during the forecast period due to growing consumer awareness about high-brightness laser projectors, increased government spending from evolving economies on the education sector, and the progress of the education sector to provide smart education to students. Also, the increasing number of cinema screens and rising penetration of laser projectors in cinema drive the growth of the market.

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Key players in this market include Panasonic (Japan), Sony (Japan), Epson (Japan), Barco (Belgium), NEC Display Solutions (Japan), BenQ (Taiwan), Casio (Japan), Optoma (US), Delta Electronics (Taiwan), and Ricoh Company (Japan).

Laser phosphor projector is expected to lead the market in 2018. The long life and low maintenance of laser phosphor projectors make them perfect for high-use settings, such as boardrooms, classrooms, houses of worship, museums, and location-based entertainment venues. A major benefit of using laser phosphor is reduced total cost of ownership (TCO). The increasing adoption of laser phosphor-based projectors for various applications is expected to drive the market during the forecast period.

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