Advanced Cinema Projector Market - industry Analysis 2019 - 2027
Advanced Cinema Projector Market Expected To Grow At A CAGR Of 9.9% During The Forecast Period
"The rapid growth of technological advancement in cinema projector worldwide boost the advanced cinema projector market"
Rapidly increasing film industry worldwide expected to enhance the market in years to come. In 2018, the yearly revenue of the global box office has reached around US$ 41 Bn and it is projected to reach nearly US$ 48 Bn yearly by 2020. Increased cinema screens with new technological innovations such as digital, 3D, 4D, 5D and others will also enhance the market growth throughout the forecast period.
The advanced cinema projectors offer high quality and high-definition images as well as 4K viewing accompanied by attractive colors, extensive details and high brightness. Wide application of advanced cinema projectors at cinema halls, residential places, and auditoriums anticipated to enhance the market growth during the forecast period.
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• In October 2018, Canon, Inc. launched a new advanced cinema projector LX-MH502Z. The product is the first single-chip projector with Digital Light Processing and 4K ultra-high-definition technology. The abovementioned projector has four-way pixel shift technology that delivers 4K UHD resolution.
Key Market Movements:
• In 2018, Asia Pacific has the highest share in the global market owing to the adoption of advanced technologies along with a growing number of multiplexes and cinema halls. Rapidly growing urbanization and consumer spending on entertainment are some of the other factors responsible for the dominance of the region.
• North America and Europe have a significant share in the global advanced cinema projector market in 2018. The rising entertainment industry in the region is the major factor in driving the market growth.