Market Trends of Projection Mapping Industry
Event Segment to Witness Major Growth
- The rising popularity of events such as concerts and corporate gatherings, among others, has increased the demand for projection mapping technology. It offers immersive experiences, enhances storytelling, and allows for dynamic visual presentations, making it a sought-after tool for event organizers looking to captivate audiences in unique ways.
- Companies like Panasonic Corporation and NEC Display Solutions are at the forefront, providing top-tier projector solutions tailored for fixed installations in multi-purpose event venues worldwide. These companies are known for their innovative technologies and commitment to quality, ensuring their products meet the highest performance and reliability standards. For example, Panasonic is dedicated to enhancing the immersive media experience in event spaces, cementing its role as an indispensable partner. Panasonic's projectors are designed to deliver exceptional image quality, brightness, and durability, making them ideal for large-scale events and installations.
- Projection mapping's popularity in the event industry stems from its cost-effectiveness and ability to deliver stunning results, especially when paired with the right supplier. This technology has captivated audiences at public events and monuments, showcasing its versatility. Its applications extend to booth displays, product launches, music events, weddings, and beyond, making it a valuable tool for creating memorable experiences across various event types. For instance, as of ACPC (Japan), in 2023, over 34.5 thousand music events were held in Japan.
- Overall, the rise in national and international music events, concerts, and carnivals worldwide is a crucial driver in the growth of the global projection mapping industry. Travelers benefit when music is incorporated into tourism, and the national and international performances at these music festivals entice the music and travel audiences. In addition, increased revenues from live music events are further anticipated to bolster the segment's growth, leading to a surge in market demand.
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Asia Pacific to Register Major Growth
- The Asia-Pacific region is anticipated to witness major growth over the forecast period As the region leverages the conduction of major global events, the presence of historical museums, and government bodies focusing on tourism as a source of earnings, elevating the market's growth.
- Additionally, through projection mapping, the project designer can rely on the power of immersive, unconventional visuals and voice to convey meaning and message, often preceding the scripted spoken word that movie filmmakers have at their disposal. Hence, adopting such technologies is expected to increase tourist places in the region due to a rapid increase in the country's tourism influx.
- Further, various state governments across the country are using projection mapping to show the rich culture of the cities and heritage sites, thus driving the growth of the projection mapping market.
- The market growth is supported by product development and innovations by the market vendors of projector manufacturers in the country. For instance, in April 2024, Christie, a global projector manufacturer, introduced a comprehensive array of advanced intelligent technologies designed to deliver video experiences at InfoComm China 2024 at the China National Convention Center. Additionally, the company's new Christie 4K13-HS 1DLP laser projector would debut in China with a projection on an array of hexagonal shapes showcased during ISE 2024 to provide high-brightness projection solutions, ensuring sharp and clear images in 4K UHD resolution.
- Moroever, technological advancements in the Japanese market to increase digital impressiveness in the tourism sector and increase the number of visitors to tourist venues, events, and shows during the studied period would support the market's growth. The country has been considered an early adopter of technology, and the presence of Japan-based projection mapping market vendors, including Panasonic and NEC corporations, is fueling the market supply to address the increasing demand for projection mapping software and hardware in the country.
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