South Korea Pico Projectors Market to Grow at CAGR 24%
Rising integration of pico projectors in aerospace, defense and automotive applications coupled with new technological advancements to drive South Korea pico projectors market through 2021
According to TechSci Research report, “South Korea Pico Projectors Market By Technology, By Application, By Type, Competition Forecast and Opportunities, 2011-2021”, the market for pico projectors in South Korea is projected to grow at a CAGR of over 24% during 2016 - 2021, on account of increasing penetration of pico projectors in consumer electronics, automotive, defense & aerospace, and business & education sectors. Moreover, rising demand for handheld or portable devices coupled with increasing penetration of compact and enhanced projection display technologies is boosting the integration of pico projectors in South Korea.
In 2015, LCoS (Liquid Crystal on Silicon) technology garnered a major share in South Korea pico projectors market. Over the last couple of years, the market for smartphones, smart wearables and other electronic devices has witnessed rapid growth in South Korea. With growing demand for these electronic devices and rapid technological advancements, there has been an increase in integration of pico projectors in these devices. Additionally, standalone pico projectors are being extensively in various end user applications, due to declining prices of these projectors.
“The number of smartphone users in South Korea is forecast to cross 36 Million by 2018 and with the introduction of holographic pico projector technology in smartphones the sales for pico projector in South Korea is certain to witness robust growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Booming smartphone sales in the country is driving integration of pico projectors and other new technologies in these devices. Since, the laser technology is anticipated to witness growth in adoption, usage of laser technology based pico projectors into smartphones is expected to emerge as a strong trend in South Korea over the course of next five years.
“In addition, South Korea’s Defense budget for 2016 has been set for $33.2 Billion a 3.6% increase from 2015. Growing demand from the defense sector and rising use of pico projectors in HMDs and HUDs is anticipated to drive growth in pico projectors market in South Korea in the coming years. Hence, the defense and aerospace segment is set to increase pico projectors market size in South Korea.” added Mr. Karan Chechi.
“South Korea Pico Projectors Market By Technology, By Application, By Type, Competition Forecast and Opportunities, 2011-2021” has evaluated the future growth potential of the pico projectors market and provided statistics and information on market structure and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in South Korea pico projectors market.
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