Projection Mapping Industry size is expected to register 23% CAGR between 2024 and 2032 propelled by rising use in events and entertainment.
Selbyville, Delaware, Sept. 10, 2024 (GLOBE NEWSWIRE) — Projection Mapping Market is estimated to be valued at USD 25 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The rapid growth of the tourism and hospitality sector will positively influence the industry growth. Of late, several companies are increasingly utilizing projection mapping technology to create immersive and visually captivating experiences for visitors at landmarks, events, and entertainment venues. These dynamic displays are transforming spaces for enhancing guest engagement, and offering unique attractions that draw in more tourists. In addition, the adoption of projection mapping is further expanding driven by the continuous evolution of display technologies and the rising demand for innovative visual content in the tourism and hospitality sectors. For instance, in May 2022, the World Travel & Tourism Council’s (WTTC) Economic Impact Report revealed that the North America’s travel and tourism sector is projected to grow at 3.9% annually. This growth is driving the increased use of projection mapping to enhance tourist attractions and experiences.
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Rising preference for short throw distance
Demand for short throw distance projection mapping is likely to accelerate at a robust pace between 2024 and 2032, due to the growing necessity to deliver high-quality visuals in compact spaces. Companies are developing advanced projectors that can create immersive and detailed projections from a minimal distance, making them ideal for venues with limited space. The short throw distance technology is also enhancing the effectiveness of projection mapping in environments, such as museums, retail spaces, and events where space constraints are a concern to offer even greater resolution and brightness while maintaining compact and versatile designs.
4D dimension to gain traction
The 4D dimension segment is expected to accrue lucrative expansion in the projection mapping market from 2024 to 2032, owing to increasing demand to create more immersive and interactive experiences. By incorporating elements, such as movement, touch, and sensory feedback, projection mapping technology enhances the depth and realism of visual projections. Companies are developing advanced systems that synchronize projections with physical environments and user interactions for adding a new layer of engagement. The continuous advancements in 4D technologies is further pushing the boundaries of creative presentations for offering even more captivating and memorable experiences across various applications.
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North America to emerge as a lucrative market
North America projection mapping market is estimated to attain substantial valuation by 2032 due to surging use in architectural design and visualization. Projection mapping technology enables architects and designers to create dynamic presentations that bring building designs to life for offering clients a realistic view of projects before construction begins. Companies in North America are also adopting projection mapping to showcase intricate details and modifications in real-time for improving communication and decision-making processes. Ongoing advancements in projection mapping technology are further enhancing its role in the architectural field for providing more precise and visually stunning representations of architectural concepts.
Projection Mapping Market Participants
Some of the prominent medical projection mapping industry players include Barco NV, Panasonic Corporation, Green Hippo Ltd., Christie Digital Systems USA, Inc, AV Stumpfl GmbH, BenQ America Corp and Seiko Epson Corporation. These market participants are working on new product developments to widen their global presence. For instance, Christie presented its latest projection mapping innovations at InfoComm Asia 2024. The showcase included interactive projection mapping using RGB pure laser projectors and LED video walls for highlighting the global debut of the Jazz Series 1DLP laser projector.
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