LONDON — (BUSINESS WIRE) — January 27, 2016 — The global interactive projector market was valued at USD 699 million in 2015 and is expected to surpass USD 2.27 billion by 2020, growing rapidly at a CAGR of over 26%.
In this report, Technavio covers the present scenario and growth prospects of the global interactive projector market for 2016-2020. Based on technology type, the market is divided into two segments: short throw projectors and ultra-short throw projectors.
The global interactive projector market is also segmented into the following regions:
APAC: largest interactive projector market
APAC was the major adopter of interactive projectors in 2015, accounting for over 41% of the total market share. APAC is a high potential market for interactive projectors, with India, China and South East Asian countries like Thailand, Malaysia, and Singapore being major contributors to the market.
“The education sector in APAC is expected to drive the market during the forecast period. Low penetration rate of interactive projectors in these countries and the presence of a large number of classrooms will likely boost the popularity of interactive projectors in this region,” said Technavio lead computing devices analyst Sunil Singh.
Market leader Seiko Epson and BenQ are some of the key vendors in this region. Infocus, Dell, and Smart Technologies are the other leading vendors in the market but are all located in North America.
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EMEA growth to stagnate
Contribution from EMEA is expected to be stagnant during the forecast period, owing to the economic slowdown and high adoption of interactive whiteboards in key countries such as the UK. However, government initiatives in some countries such as Turkey and Russia for the development of education are aiding the growth of the market in this region.
Market share in the Americas rapidly declining
The US already has an established market for interactive whiteboards, which makes it difficult for interactive projectors to penetrate the market in this region. During the forecast period, this region is expected to lose nearly 12% of its market share. However, the interactive projectors market in Latin American countries like Brazil and Mexico will drive the market, due to low cost of interactive projectors compared to interactive whiteboards and interactive flat panels displays.
Key Leading Countries
One of the major drivers for the global interactive projector market is the increased adoption of interactive learning as an integral part of the educational curriculum. Educational budgets are also increasing among most leading countries which is stimulating the growth of the market:
The President’s 2016 Budget provides USD 70.7 billion in optional funding and USD 145 billion mandatory funding for the US Department of Education.
For 2015-2016, the government allocated USD 4.14 billion to the department of higher education under the human resource development (HRD) ministry compared to USD 3.65 billion in 2014-15, registering an increase of 13.3% — a little over last year's 12.9%.
The spending on education and training is to be increased in Singapore to an average of over USD 722 million per year from 2015 to 2020.
In the UK, USD 1.38 billion has been allocated for education for 2015-2016, which is 12% of their total budget.
In Israel, the Education Ministry's budget will reach an all-time high in the coming year to USD 13.5 billion.
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