PUBLISHER: The Business Research Company | PRODUCT CODE: 1392852
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392852
“Projection Mapping Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on projection mapping market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for projection mapping? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The projection mapping market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Projection mapping is a technique used to transform objects, often with irregular shapes, into display surfaces for video projection. By employing the video projection method known as projection mapping, video material is mapped onto a surface, allowing regular objects like buildings, runways, stages, or even bodies of water to serve as captivating displays. These surfaces act as canvases that, through the interplay of light and illusion, create a delightful visual experience, utilizing the shape and texture of the surface. Additionally, interactive elements can be incorporated using mapping tools and images.
The primary components of projection mapping include hardware and software. Hardware is responsible for receiving input data from the user, storing information, displaying output, and executing commands. In the context of computers or electronic systems, hardware encompasses physical elements such as the monitor, hard drive, memory, and CPU. It collaborates with firmware and software to enable the functioning of a computer. Projection mapping can involve 2D, 3D, and 4D dimensions, with short-throw and standard-throw distance ranges. Projection mapping finds applications in various settings, including media events, venue openings, entertainment, product launches, and retail. It serves as a creative and dynamic way to transform surfaces into immersive visual experiences.
The projection mapping market research report is one of a series of new reports from The Business Research Company that provides projection mapping market statistics, including projection mapping industry global market size, regional shares, competitors with a projection mapping market share, detailed projection mapping market segments, market trends and opportunities, and any further data you may need to thrive in the projection mapping industry. This projection mapping market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The projection mapping market size has grown rapidly in recent years. It will grow from $3. 21 billion in 2023 to $3. 83 billion in 2024 at a compound annual growth rate (CAGR) of 19. 4%. The growth observed in the historical period can be attributed to a surging demand for various applications, increased demand from the entertainment industry, corporate events, and exhibitions, a rise in adoption for advertising purposes, and technological improvements in image processing.
The projection mapping market size is expected to see rapid growth in the next few years. It will grow to $7. 75 billion in 2028 at a compound annual growth rate (CAGR) of 19. 3%. The anticipated growth in the forecast period can be attributed to the expansion of experiential marketing, the rise of interactive projection mapping, increasing demand in retail and hospitality sectors, the boost in market growth of projection mapping due to increasing disposable income, and the exposure of a multitude of different datasets through the rise in social media platforms. Major trends expected in the forecast period include advancements in projection technology, growth in augmented reality (AR) and virtual reality (VR), integration with 3D mapping and modeling, integration with spatial computing, and the use of projection mapping for architectural visualization.
The anticipated surge in the adoption of projection mapping in media events is poised to drive the growth of the projection mapping market. Projection mapping involves the technique of projecting video footage onto various surfaces, transforming ordinary objects like buildings, stages, and even water into captivating displays. This method enhances visual aesthetics and engagement, offering a cost-effective alternative for media events. For instance, as per the US Bureau of Labor Statistics, the annual wage for meeting, convention, and event planners in 2021 was $49,470. With the media industry projected to grow by 18% by 2030 and approximately 16,400 opening meetings annually, the increasing adoption of projection mapping at media events is a significant factor propelling the projection mapping market.
The expansion of the advertising industry is anticipated to be a driving force behind the growth of the projection mapping market. Projection mapping is employed in advertising to create dynamic and immersive brand promotions by projecting visuals on buildings and unconventional surfaces. This approach effectively engages audiences, leaving a lasting impression. For example, Canadian Industry Statistics (CIS) reports that the display advertising industry generated an average revenue of $422. 3 thousand in 2021, showing an increase from $416. 8 thousand in 2020. Similarly, the advertising, public relations, and related services industries generated an average revenue of $364. 8 thousand in 2021. Therefore, the projection mapping market is expected to witness growth due to the expanding advertising industry.
The incorporation of augmented and virtual reality stands out as a prominent trend in the projection mapping market. Major players in the market are focused on creating a seamless experience through augmented and virtual reality to enhance their market positions. Augmented reality (AR) and virtual reality (VR) create an enriched representation of the real world through digital visual components, enhancing the projection mapping experience. Nextech AR Solutions Corp. 's announcement of its mini-metaverse in London, utilizing ARway spatial mapping technology, is an example of this trend.
To gain a competitive advantage, major companies in the projection mapping market are developing innovative solutions, such as interactive projection mapping software. Interactive projection mapping software, a type of software in projection mapping technology, allows users to manipulate projected images through hand and body movements, offering a versatile platform for creative expression. Yuto Games' launch of an interactive projection mapping software represents a groundbreaking development, enabling the creation of immersive gaming environments and enhancing the gaming experience.
In September 2021, Disguise, a global provider of live event visualization solutions, acquired Mapping Matters for an undisclosed amount. This acquisition enhances Disguise's capabilities in remote collaboration and cloud-based 3D content previsualization, solidifying its position as a globally recognized standard solution for end-to-end production. Mapping Matters is known for delivering engaging, visually rich, interactive cloud-based solutions for designers worldwide.
Major companies operating in the in the projection mapping market report are 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.
North America was the largest region in the projection mapping market in 2023. 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
The countries covered in the projection mapping market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The projection mapping market consists of revenues earned by entities by providing media servers and projectors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.