In the first half of 2024, as the global economy continued its moderate recovery, the global projector market maintained growth momentum in 2024, driven by sporting events such as the European Cup, Copa América, and the Paris Olympics. This growth was particularly notable in Western Europe and North America, while China's performance remained weak.
According to data from RUNTO, global projector market shipments reached 9396K units in the first half of 2024, a year-on-year increase of 4.5%.
Global Projector Market Quarterly Shipments, 2023-2024Q2
Data source: RUNTO, Unit: K
Home Projector Market Accounts for Over 85%
The growth in the global projector market mainly came from the home projectors. According to data from RUNTO, in the first half of 2024, global home projector market shipments exceeded 8 million units, a year-on-year increase of 10.3%, accounting for 85.2% of the overall market.
With corporate procurement and engineering project demands yet to recover, coupled with the cross-scenario application of home products, the commercial market continued to shrink. In the first half of 2024, global commercial projector market shipments were 1.4 million units, a significant year-on-year decrease of 19.6%.
Global Projector Market Quarterly Shipments by Scenario 2023-2024Q2
Data source: RUNTO, Unit: K
Mainland Chinese Brands Expanding Influence in the Global Projector Market
The global projector market is roughly composed of traditional foreign brands, mainstream mainland Chinese brands, and Chinese cross-border brands.
Traditional foreign brands are gradually declining, occupying only three spots in the top 10 brands in the first half of 2024.
Mainstream mainland Chinese brands currently form the second tier, with brands such as XGIMI, Xiaomi, JMGO, Hisense, Dangbei, and Xiaoming promoting the layout of overseas markets actively, improving both market performance and international influence.
Mainland Chinese cross-border brands focusing on overseas markets have also secured an important place, with their products mainly based on 1LCD technology and sold on overseas e-commerce platforms such as Amazon.
XGIMI Ranks First in the Global Home Projector Market
Since 2023, XGIMI has ranked first in the global home projection market for six consecutive quarters. In the first half of 2024, XGIMI maintained its position as the leader in the global home projector market with a market share of 6.5%.
XGIMI has increased its overseas marketing investments, particularly on social media platforms such as YouTube, Instagram, and TikTok, which has been quite effective in driving significant traffic conversion. In addition to online and offline retail channel layout, XGIMI has strengthened its overseas independent platform layout, opening experience stores in places like Melbourne and Auckland.
In the global commercial projector market, the Japanese brand Epson holds a leading position, occupying nearly 50% of the market share.
Market Share of Major Brands in the Global Home Projector Market, 2024H1
Data source: RUNTO, Unit: %
Global Projector Shipments Expected to Approach 20M Units in 2024
Looking ahead to the second half of the year, despite facing numerous uncertainties including political, economic, and regional situations, projectors remain an electronic product of interest to young users for viewing content. Therefore, market development potential and momentum exist. It is estimated that the annual projector market shipments will reach 19.77 million units, a year-on-year increase of 5%.
Note: This is an excerpt from the report. For the full version, please contact RUNTO.
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