Pico projector market forecast to continue growth

The recent strong levels of growth in the pico projector market have been forecast to continue in the coming months in North America.

According to new data collected by MicroMarket Monitor, the pico projector market was valued at $370.1 million (£249 million) in 2014 and this figure will rise to $1.75 billion by 2019.

This would be a compound annual growth rate of 36.4 per cent during the forecast period, indicating that pico projector sales are likely to keep rising in the near future.

The report by MicroMarket Monitor explained that pico projectors are becoming more affordable and this is one of the reasons for forecasting such strong growth in this market.

"In addition, new product developments and increasing use of pico projector in business & education and consumer electronics application is driving the market," the report said.

Embedded pico projectors were revealed to be the fastest-growing product type in North America, with sectors using these devices including business and education, consumer electronics and automotive.

Business and education is by far the largest subsection for the pico projector industry and according to the report by MicroMarket Monitor this area will grow by 30.3 per cent during the forecast period.

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