Laser TV Market – Global Industry Size, Share, Trends, Opportunity and Forecast, Segmented By Type (Projector TV, Regular TV), By Size (40 Inch and Below, 40-100 Inch, 100 Inch and Above), By End Use (Residential, Commercial), By Region & Competition, 20

Laser TV Market – Global Industry Size, Share, Trends, Opportunity and Forecast, Segmented By Type (Projector TV, Regular TV), By Size (40 Inch and Below, 40-100 Inch, 100 Inch and Above), By End Use (Residential, Commercial), By Region & Competition, 2019-2029F

The Global Laser TV Market was valued at USD 3.53 billion in 2023 and is to grow USD 33.24 billion by 2029 with a CAGR of 45.38% during the forecast period. The significant growth in the market due to various factors such as the increasing demand for high-quality display technology and the move towards energy-efficient, eco-friendly products. This market is distinguished by Laser TV technology which boasts superior picture quality with vivid colors, excellent contrast ratios, and larger screen sizes at competitive prices as compared to traditional TVs. Consumers are increasingly seeking enhanced viewing experiences, particularly during global events like the FIFA World Cup and the Olympics. For instance, the 2018 FIFA World Cup in Russia alone attracted a viewership of 3.572 billion, more than half the global population, illustrating the enormous potential for Laser TV market growth.

Further catalyzing this market is the growth of the consumer electronics industry. Take for example the India Appliances and Consumer Electronics market, which was valued at USD 10.93 billion in 2019. Additionally, there has been a surge in video gaming participation, with approximately 2.6 billion gamers around the world as reported by UN Environment. Org in August 2020, intensifying the demand for Laser TVs. This rise in electronics and gaming culture highlights the critical role Laser TVs play in satisfying the entertainment demands of contemporary consumers.

Another significant driver is the environmentally-friendly and energy-efficient nature of Laser TVs, which aligns well with the increasing consumer awareness regarding sustainability. However, strong competition from existing substitutes like LED, LCD, and OLED TVs presents a challenge to the market. Nevertheless, the large consumer base and versatile applications of Laser TVs, from residential to commercial settings, underscore a promising market outlook.

Key Market Drivers

High-Quality Display and Growing Viewership of Global Events

The global laser TV market is significantly influenced by the high-quality display technology offered by Laser TVs. These TVs provide unparalleled color accuracy, superior contrast ratios, and sharp imagery, thereby enriching viewers' experience. This technological superiority becomes particularly appealing during major worldwide events like the FIFA World Cup, Miss World, and the Olympics. For instance, the 2018 FIFA World Cup in Russia drew an enormous audience of 3.572 billion people. The exceptional display quality of Laser TVs enhances the viewing experience, making them a preferred choice for home entertainment during these events.

Expansion of Consumer Electronics Industry and Video Gaming Culture

An additional major factor driving the Global Laser TV Market is the rapid expansion of the consumer electronics sector alongside the booming video gaming culture. According to the Indian Brand Equity Foundation, the India Appliances and Consumer Electronics market reached a value of USD 10.93 billion in 2019, highlighting the substantial demand for electronic appliances, including Laser TVs. Moreover, the rise in the number of global gamers around 2.6 billion as reported by UN Environment. Org in August 2020 has fueled the demand for high-quality display technology. Laser TVs offer an immersive experience ideal for both movie watching and video gaming.

Key Market Challenges

Strong Market Presence of Substitute Products

The Global Laser TV Market faces significant challenges from established alternatives such as LED, LCD, and OLED TVs, which already enjoy strong market presence. These alternative products have developed extensive consumer bases due to their wide availability, varied pricing strategies, and satisfactory performance levels. The continuous technological advancements and innovations in LED and OLED TV sectors further attract consumers, posing stiff competition to Laser TVs.

Price Sensitivity and Cost Concerns

Additionally, the Global Laser TV Market must contend with price sensitivity and cost-related concerns. While Laser TVs offer superior display quality and energy efficiency, the initial investment can be relatively high compared to other types of televisions. This cost factor can be a major deterrent for price-sensitive buyers who might opt for more budget-friendly options like LED or LCD TVs. The higher costs associated with Laser TVs could restrict their adoption among certain consumer segments, thereby impacting market growth.

Key Market Trends

Increasing Adoption of Laser TVs in Households

There's a growing trend of adopting Laser TVs in domestic settings. Families are showing a marked preference for larger screen sizes that provide a cinema-like viewing experience at home. With sizes exceeding 40 inches available at competitive prices, Laser TVs are becoming increasingly attractive for households prioritizing immersive entertainment. Furthermore, Laser TVs are known for their long lifespan and minimal maintenance compared to traditional TVs, enhancing their appeal for home use.

Emphasis on Eco-friendly and Energy-efficient Products

As awareness about sustainability and environmental preservation grows, consumers are increasingly favoring eco-friendly and energy-efficient products. Laser TVs align well with this trend, as they consume less power and do not contain harmful chemicals like mercury, common in other display technologies. The environmental advantages, coupled with lower energy bills, make Laser TVs an appealing option for eco-conscious consumers.

Segmental Insights

By Size Insights

The Laser TV Market is categorized by size into 40 inch and below, 40-100 inch, and 100 inch and above. The 40-100 inch segment is anticipated to dominate the market because of its ideal dimensions for most households. Many consumers find this size range to be perfectly suited for their living rooms and entertainment spaces, offering a balanced blend of screen area and cost. The affordability of Laser TVs within this range also bolsters their market popularity.

Regional Insights

North America

North America is expected to continue holding a dominant position in the Global Laser TV Market. Growth in this region is driven by an uptick in luxurious home consumption, including Laser TVs. For instance, homes valued at over USD 1 million in the U.S. increased by 400,702 in 2018, according to USA Today. This region also benefits from higher minimum wages, boosting consumer spending power and facilitating growth in the Laser TV market.

Asia Pacific

The Asia Pacific region is projected to show considerable growth in the Laser TV Market due to an increase in dual-income households and a thriving hospitality industry. For instance, dual-income households in South Korea were estimated to be 5.66 million in 2019, accounting for 46 percent of all households. The rise in transaction volumes within the hospitality sector by 26.6 percent in 2018 further drives the adoption of Laser TVs in hotels and resorts, meeting the demand for high-quality display solutions.

Key Market Players

• Xiaomi Corporation
• Hisense International Co., Ltd.
• Sony Corporation
• Appotronics Corporation Ltd.
• VAVA
• Toshiba Corporation
• BenQ Corporation
• Bomaker
• Optoma Group Ltd
• XGIMI Technology Co., Ltd.

Report Scope:

In this report, the Laser TV Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Laser TV Market, By Type:
• Projector TV
• Regular TV
• Laser TV Market, By Size:
• 40 Inch and Below
• 40-100 Inch
• 100 Inch and Above
• Laser TV Market, By End Use:
• Residential
• Commercial
• Laser TV Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Indonesia
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• South America
• Argentina
• Colombia
• Brazil
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Laser TV Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights