In 2023, "value for money" became a key term in the smart projection industry.
Consumers' pursuit of value for money is driving changes and upgrades in the smart projection industry. On one hand, laser products have successively reduced prices, emphasizing "high-end cost-effectiveness," while on the other hand, the accelerated expansion of LCD products focusing on low prices has propped up half of the smart projection track.
As a new product in the display industry, the development and evolution of smart projection in the past few years have been faster and more intense than people imagined.
The author believes that the smart projection industry is transitioning from cost-effectiveness competition to a higher dimension of comprehensive strength competition, including enhancing consumer experience through technological innovation and building brand power with high quality.
On May 8th, Vidda, a youthful and trendy brand under Hisense, held the "Wisdom Knows No Bounds" 2024 new product conference.
In my memory, this is the largest-scale conference Vidda has held since entering the projection industry, symbolizing a significant milestone in Vidda's projection track development.
At the same time, the new curtain of the three-color laser projection track is slowly being drawn.
The future of smart projection is "uncertain," with three-color lasers bringing new vitality.
In recent years, with the continuous expansion of groups such as the "minimalist decorators," "frequent movers," and "singles elite," the growing demand for convenience and diversity in home viewing has significantly driven the development of home smart projection products.
Especially since 2020, the industry has entered a period of rapid development. According to data from Lutu Technology, the Chinese smart projector market (excluding laser TVs) has seen three consecutive years of growth from 2020 to 2022, with sales reaching 6.178 million units in 2022, a 28.6% year-on-year increase, and sales revenue of 12.53 billion yuan, a 7.9% year-on-year increase. However, the growth slowed down in 2023. According to Lutu Technology's data, last year, sales of home smart projectors decreased by 5.1%, and sales revenue decreased by 17.3%, marking the first decline in the past five years.
It is evident that home smart projection is entering an adjustment period, with industry changes on the horizon. The market is showing a dumbbell-shaped consumption structure, with growth in markets below 1,000 yuan and above 5,000 yuan, while the mid-range market share is gradually declining.
In the short term, focusing on low-priced entry-level products can to some extent accommodate the growth in volume and help the industry temporarily reverse the downward trend. However, from a long-term perspective, low-priced entry-level products may gradually erode the value of the smart projection market, and even with the emergence of some "low-quality" issues, further dampen consumer enthusiasm for the entire category of home smart projection.
Therefore, for the home smart projection market to truly warm up, the key competitive factor is to return to user experience. Providing users with a more comfortable and convenient viewing experience is crucial to helping the industry overcome its growth challenges.
As a result, major brands have embarked on a journey of innovation, with products of different forms, shapes, and technologies emerging one after another. It is worth noting that three-color laser projection has become the most promising "category." According to Lutu Technology data, the shipment volume of laser projection increased by 35.5% compared to 2022, with a compound annual growth rate of 37.7% from 2020 to 2023, gradually becoming a new driving force for the smart projection industry's growth.
Against this market backdrop, brands like Vidda, XGIMI, JMGO, and Dangbei have all entered the three-color laser projection market.
This decision is not surprising, as three-color laser technology outperforms both single-color laser and LED light source projection products in terms of brightness, contrast, high resolution, wide color gamut, ultra-high color reproduction, and viewing comfort.
Therefore, it is clear that three-color laser technology will be a key battleground for brands. In this regard, Vidda is undoubtedly the most promising. Not only because Vidda is a pioneer in three-color laser home projection, but also because it is a staunch advocate of three-color laser technology. Since entering the home projection industry in 2022, Vidda's main products have all used three-color laser as the light source.
At the conference, Vidda declared its slogan to become the "number one brand in three-color laser projection."
Vidda, which entered the projection industry in 2022, to some extent, caters to the trend of rapid popularization of laser products, officially ushering in a new era for the industry. If the previous laser projection products completed the category exploration from 0 to 1, the three-color laser new revolution led by Vidda will point towards the upgrade and development from 1 to 10.
How does Vidda leverage industry leverage?
"Vidda is truly the fastest-growing emerging brand in the consumer electronics field," said Guo Chen at the press conference.
Before discussing what this "emerging brand" will bring, let's try to understand how it came about through Vidda's development.
Vidda officially entered the projection industry in 2022. In just one year, it became the brand with the fastest sales growth in the smart projection DLP market. Such an expansion speed is explosively powerful in any industry. Despite the rapid development of the smart projection industry in recent years, very few super players have emerged, especially achieving such results in 2023 when the overall market is declining.
How did Vidda leverage industry leverage and become a leading brand in just three years?
The extreme polishing of products, sincere respect for users, and resonance with an interesting soul are important magic weapons for Vidda's success.
In terms of products, Vidda has always adhered to independent research and development, ensuring full control over the manufacturing process and consistently prioritizing consumer experience. According to official sources from Vidda, in the past three years, Vidda has achieved 12 industry firsts.
While Vidda is advancing rapidly, competitors are also catching up quickly. In recent years, smart projection brands have emerged one after another. However, only a few brands, like Vidda, have made consistent choices and commitments. As the smart projection sector expands rapidly, the industry is facing various challenges such as evident brand homogenization, inadequate product quality, and poor customer user experiences.
Vidda has not been significantly affected in these aspects because the brand established a clear direction and laid a solid foundation when entering the projection market.
During the conference, Guo Chen mentioned that Vidda is the first brand in the industry to boldly declare "no false claims."
These three words may seem simple but are not easy to uphold, reflecting Vidda's reverence and sincerity towards the essence of competition in the smart projection industry.
Vidda's confidence stems from the 17-year technical expertise in laser display technology backed by Hisense, with over 2500 laser display patents, providing unparalleled technical support.
This reverence is not only evident in Vidda's promotional materials but also ingrained in its product quality control and research and development. Vidda boasts 8 R&D centers, 6 production bases, and over 1900 research scientists.
This reverence has propelled Vidda's rapid growth. In 2023, Vidda's projection sales increased by 266.84% compared to 2022, outperforming the industry significantly, achieving a substantial sales growth within just one year.
Vidda's rise to the top proves its strategic breakthrough in the smart projection field. Initially underestimated, the smart projection market has evolved, with consumers recognizing Vidda as a leading player due to its commitment to excellence and consumer-centric approach.
Vidda's C2 series launch marks the beginning of a new era in smart projection. The recent product launch reveals Vidda's commitment to continuous improvement in the industry.
Vidda focuses on three key aspects: concentration on solidifying technological advantages, igniting the market. Brightness is crucial for product display quality and user experience in smart projection. Vidda's latest release, the Vidda C2 Ultra, sets a new standard with its industry-first MCL 38 laser, achieving 3000 lumens of brightness. Vidda stated that, following competitors' standards, the brightness of the Vidda C2 Ultra would be equivalent to 4400 lumens.
Not only does Vidda achieve top-notch brightness in the industry, but it also brings optical zoom to projection products for the first time. With a 0.9~1.5:1 ultra-wide projection ratio and a super optical zoom lens, Vidda can project a 100-inch giant screen within a range of close to 2 meters. This means that young people with limited living space can still enjoy a large screen experience in small spaces. At the same time, this signifies a shift in the industry from traditional digital zoom to a new era of optical zoom.
In addition, Vidda has paid great attention to details. The base integrates a 20W large sound chamber independent subwoofer unit, a large power gallium nitride power adapter, and a 360° rotating integrated cloud platform base...
Secondly, with a rich variety of products, Vidda is implementing a strategy of creating flagship and popular product plans. In 2022, Vidda launched three products with different positioning to form the "Three-color Laser Family Bucket," catering to different consumer groups with diverse choices. Currently, Vidda continues this strategy with not only the internally acclaimed "Emperor" Vidda C2 Ultra, but also the new generation flagship C2 Pro, versatile flagship C2s, and the cost-effective C2 Ultimate Edition. By tailoring products to different consumer habits and preferences, Vidda aims to create a diverse product matrix, allowing the three-color laser to enter more households.
Thirdly, continuously building the ultimate quality-price ratio. The pricing of Vidda's new products ranges from 6399 yuan to 11999 yuan, covering almost all target groups interested in laser projection. Among the many high-end products featuring three-color lasers domestically and internationally, these four products are far ahead in brightness, projection ratio, and many other details, with hardly any other brands achieving this price point. With products of the same configuration, Vidda's products have an overwhelming advantage in terms of price. Such a high-quality price ratio strategy not only attracts a large number of consumers but also perfectly aligns with the consumption psychology of today's consumers.
With this, a more standardized reference template has emerged for the household smart projection track. This is also the compass that the young and vibrant industry urgently needs.
Looking at the digital consumer field, the success of all brands basically stems from consumer recognition in this field. Vidda has gained recognition from consumers in the smart projection field through its rich product variety, leading quality, and competitive product prices. This is why the "latecomer" Vidda can progress so quickly. Now, Vidda, constantly exploring its own limits, has opened a new chapter in household smart projection, setting a new benchmark for the industry.
