Laser Tv Market Size, Share & Industry Analysis, By Type (Projector TV, Regular TV), By Size (40 Inch and Below, 40-100 Inch, 100 Inch and Above), By End-Use (Household, Commercial) And Regional Forecast, 2024-2032

Laser TV is widening its market presence as people are increasingly drawn to the high-quality display that it offers. The product's environmental friendliness, ability to conserve energy, and helping to safeguard the health of the eye is assisting to surge the preference rate. Well-known global events such as the Football World Cup, Miss World, Olympic, and others increasingly gaining large viewership is helping to accelerate the consumption rate. For instance, according to the FIFA data released, December 2018, is stating that the 2018 FIFA World Cup Russia is evaluated to generate a total viewership of 3.572 billion, which is more than half of the world’s population.

The rising growth of appliances and consumer electronic industry in various countries around the world is fostering the consumption of laser TV. For instance, according to the Indian Brand Equity Foundation data released, in 2019 the India Appliances and Consumer Electronics are assessed to be valued at USD 10.93 billion. In addition, the increasing number of people involved in playing video games has resulted to surge in the demand for the product. For instance, according to the  UN Environment.Org, data published, August 2020, is stating that there are about 2.6 billion gamers around the world.

Nevertheless, the availability of substitute products such as LED, LCD, OLED, and others possessing a strong market presence is hampering its growth.

Key Market Driver -

– The flourishing growth of appliance and consumer electronic industry is acting as a driving factor for the market growth.

Key Market Restraint -

The robust presence of its alternative products is restraining its market growth.

Key Players Covered:

Toshiba Corporation, BenQ Corporation, LG Electronics Inc., Hisense Group, Appotronics, Inc, and others are the key companies operating in the laser TV market.

The laser TV market is segmented into by type, size, end-use, and geography.

On the basis of type, the market is bifurcated into projector TV and regular TV. Regular TV is anticipated to be the dominant as it produces a sharper image quality on the same specifications as compared to projector TV. Likewise, its ability to act as a decorative agent for a room surges its desirability.

Based on size, the market is grouped into 50 inches and below, 50-100 inches, and 100 inches & above. 50-100 inches is estimated to be the leading segment on account of the product begin at an ideal size for most households as the ratio of the size fits perfectly in most homes. Also, its cost friendliness to a large number of consumers boosted its consumption.

By end-use, the market is divided into household and commercial. Household is projected to a prominent market due to most household possessing television progressively willing to upgrade to better technology. Similarly, the increasing popularity of the usage of the product as a computer monitor escalates the demand in this segment.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is assessed to exhibit a prominent share and is anticipated to continue throughout the forecast period of 2021-2028. The increasing number of luxurious homes led to a surge the consumption of multiple types of household products, is estimated to have a significant impact on rising demand. For instance, according to the data issued by the USA Today in November 2018, is declaring that in 2018 home which are worth 1 million and above in the United States has witnessed an increase in number of 400,702. In addition, the region offering a high minimum wage resulting to increasing spending power is projected to drive the market growth. For instance,  according to the National Conference of State Legislatures data released, December 2020, is proclaiming that in the United States presently 29 States and D.C. has a wage that surpasses the federal minimum wage of above USD 7.25 per hour.

Asia Pacific is assessed to show a significant presence in the laser TV market, owing to the rising number of dual-income households. For instance, according to The Korea Times data published, October 2019, is stating that the dual increase household in South Korea is evaluated to be 5.66 million, which is estimated to be 46 percent of all households. Furthermore, the hospitality industry of this region witnessing an escalating enlargement is projected to have a vital contribution. For instance, according to HVS Global Hospitality Services data released, is declaring that in 2018 the Asia Pacific hospitality transaction volume is anticipated to worth USD 12.8 billion, which is a 26.6 percent rise on year on year basis.

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Segmentation

Key Industry Developments-

• In September 2019, Hisense announces the introduction of its three new Laser TVs and its massive 85-inch 8K TV and at IFA 2019.


• In January 2019, Xiaomi declared the launched of its Xiaomi Mijia Laser Projector TV which offers upto 150 inch with 4 K quality.