According to data from Runto Technologies (RUNTO) released on March 25th, the global projector market saw shipments of 18.752 million units in 2023, marking a 5.2% year-on-year increase.
Looking ahead to 2024, Runto Technologies predicts continued growth in the global projector market, with overall shipments expected to surpass 20 million units, reaching 20.57 million units.
Moreover, this growth trajectory is expected to continue in the following years, with projections indicating that the global projector market could reach 30 million units by 2027.
In terms of regional distribution, although Mainland China remains the largest projector market globally, its market share has seen a slight decline. Data reveals that in 2023, the projector market shipment volume in Mainland China was 7.114 million units, marking a decrease of 6.9% year-on-year. The market share dropped from 42.8% in 2022 to 37.9%.
According to Loto Technology, influenced by factors such as national policies, localization of the supply chain, and intense competition, the projector market in China (including both smart and non-smart products) is expected to rebound to 7.47 million units in 2024.
However, with an increasing number of domestic brands expanding their presence in overseas markets, the growth rate of the Chinese projector market may be slower compared to overseas markets. Consequently, its global market share is also expected to further decline.
North America: The second largest projector market globally, with shipments exceeding 4 million units in 2023, capturing a market share of 21.6%, a 3 percentage point increase from 2022.
Asia-Pacific Region: The projector market in the Asia-Pacific region surpassed 3 million units, with a market share of 16.6% in 2023, showing a slight increase of 0.3 percentage points from the previous year.
Western Europe: Projector shipments in Western Europe exceeded 2.5 million units, accounting for a market share of 13.8%.
