Projector manufacturer BenQ has announced it has retained its place as the world's second largest supplier of the technology.

The Taiwanese firm explained it is the sixth year in a row that it has held on to the second spot in the projector rankings, with data compiled by market information advisory firm Futuresource Consulting revealing the news.

BenQ had a 12.9 per cent share of the global projector market in 2014, with only Epson having more success in the industry last year.

However, in a number of territories around the world BenQ was able to outsell Epson, with nations such as Germany, Austria and Indonesia among those where it led.

BenQ increased shipments by 13.3 per cent to China, with the Far East country being one of the world's fastest growing markets for projectors and associated products. The firm also revealed that shipments to Europe were up by 18.8 per cent during 2014.

In the full-high definition projectors sector of the market BenQ came out on top, with the company able to outsell Epson around the world. BenQ has a 25.9 per cent share of the global full-high definition projectors market.

The figures released by Futuresource Consulting show that global projector sales were up by an annual eight per cent to 8.3 million units in 2014, showing the industry is achieving solid levels of growth. New technology such as pico projectors have also opened up new areas of the sector.