The pico projector industry will see strong levels of growth in the coming years, according to a new report.

Research conducted by ReportBuyer found that the sector is set to expand at a compound annual growth rate of 41 per cent between 2014 and 2019.

The report, Global Pico Projector Market Forecast & Opportunities, 2019, suggests that the Americas and Asia-Pacific regions are expected to significantly contribute to this growth in the next few years.

Pico projectors, which are also sometimes known as pocket or handheld projectors, have become increasingly popular among small to medium-sized enterprises (SMEs) in recent years due to their portability and lightweight nature.

Projectors are also increasingly being incorporated into other technological devices such as tablets and laptop computers, digital cameras and camcorders.

ReportBuyer said: "With overall global IT spending crossing $3 trillion (£1.9 trillion) in 2013 and SMEs accounting for $870.8 billion, SMEs emerged as the leading revenue contributors in global pico projector market in 2013."

The rising mobile workforce was hailed in the research as another of the major factors to be driving growth in the global pico projector market.

ReportBuyer added that OLED technology is likely to "play a significant role in revolutionising pico projector market over the next five years".