The pico projector industry has been predicted to continue to enjoy a rapid pace of growth in the coming years.
According to new research published by MarketsandMarkets, the pico projector sector will be worth as much as $9.32 billion (£6.14 billion) by 2020.
This means the industry will expand at a compound annual growth rate of almost 40 per cent between 2014 and 2020, the report said.
Pico projectors are increasingly being embedded into mobile devices such as cameras, mobile phones and tablets, which helps to explain why the sector is growing at such a rapid pace.
"Several new product developments have occurred and new models have come up, owing to the application potential of pico projector in various applications," said MarketsandMarkets.
The report pointed out that the business and education and consumer electronics application offers a huge growth potential for pico projectors in the coming years due to the fact that these devices boast advanced and suitable features offered over the other processes.
As part of its study, MarketsandMarkets predicted that some of the fast growth application markets in the pico projector industry are likely to double by 2020 in terms of market revenue.
It said: "Newer applications and uses are continually being devised for this technology which would further propel the market in the coming five years. This growth is being heralded by the likely growth of the consumer electronic markets, thereby driving the demand for pico projectors."