Laser Phosphor Display Technology Market Size, Share & Trends Estimation Report By Type(Monitor, Projector),By Application(Commercial, Industry), By Region, And Segment Forecasts, 2023 - 2030
The Global Laser Phosphor Display Technology Market Is Expected To Grow At A CAGR Of 9.5% From 2023 To 2030.
Laser Phosphor Display Technology Definition:
Laser phosphor display technology is a type of projection display that uses lasers to excite phosphors on a screen to create images. This technology is often used in digital signage and large-format displays.
Laser Phosphor Display Technology Market Overview:
Because technology is expected to improve over the next few years, the market for Laser Display Technology is expected to grow at a good rate. The most recent improvements in artificial intelligence and machine learning will make it possible for laser phosphor display technology to be used in more situations, which will drive demand through 2030.
The pandemic COVID 19 is very bad for the companies that make Laser Phosphor Display Technology because it causes problems in the supply chain and causes them to shut down often. The economic slowdown and geopolitical problems have also slowed the growth of the Laser Phosphor Display Technology market in 2022. As the economy starts to recover from the pandemic, we expect that growth will be different in different places. Some countries will have huge growth potential, while others will have small profit margins. As the market continues to heal from the pandemic, this will happen.
The Laser Phosphor Display Technology business is growing because new generations of Laser Phosphor Display Technology are being made that work better, are more precise and flexible, and are easy to add to existing systems. But a change in the way people think about the world becoming more connected and the need to get smaller are forcing the Laser Phosphor Display Technology market to get better and make smarter products.
On the medium term, the industry of laser phosphor display technology is expected to make progress in research and development, with the goals of lowering costs and making the technology more useful. The market for laser phosphor display technology has a lot of potential because self-driving cars are coming soon, artificial intelligence computing is getting better quickly, and commercials are getting better. We think that between now and 2030, when the forecast ends, the market for Laser Phosphor Display Technology will pick up its growth rate, mostly with the help of markets that are still growing.
Major factors driving the growth of laser phosphor display technology market
There has been an increase in demand for consumer electronics goods, there have been technological advancements that have led to higher consumption, and there has been an increasing adoption of laser phosphor display technology in gaming and entertainment applications. These are the primary factors that are driving the growth of the laser phosphor display technology market. The high cost of research and development, a lack of infrastructure for producing laser phosphor displays on a large scale, and displays that are deeper than those produced by competing technologies are the primary factors that are preventing the market for laser phosphor display technology from expanding. Increases in the adoption of laser phosphor display technology for new applications, such as military applications, and growing economies are the primary possibilities for growth in the laser phosphor display technology market.
The monitor is the display device that shows images generated by the laser phosphor. The technology has wide applications in various end-use industries such as education, retail, gaming, and entertainment. It is also used in medical imaging due to its high resolution and reliability features. The monitor helps to improve user experience by providing smooth image transition without any interruption during long-duration video games or educational training.
A projector is an optical device that emits light for the purpose of displaying images and information on a screen, person, or object. The laser phosphor display technology market has witnessed significant growth over the past few years owing to increasing demand in various application areas such as education, business presentations & exhibitions, gaming zones & arcades among others. Projectors are extensively used across several industries such as education (classroom), entertainment (movies), corporate/business sector, and government institutes among others.
In 2019, more than 60% of the market was made up of the industry application segment, and this is expected to stay true over the next few years. The growth can be explained by the fact that demand is going up in many fields, such as medicine, education, and defence. Laser phosphor displays have a higher contrast ratio than traditional LCD/LED panels, so they can be used to show high-resolution images on TVs, computers, and phones.
From 2023 to 2030, the commercial application segment is expected to grow because more retail stores and shopping malls around the world are using laser phosphor displays. Features of the product like a high brightness level (more than 1 million cd/m2) and a narrow viewing angle make it good for use indoors in places like shopping malls and retail stores, where the view outside can change depending on the weather at the time.
During the projection period, North America is anticipated to be the largest market by region.
Over the next few years, the market for laser phosphor display technology is expected to continue to grow. North America has the biggest share of the world market for this technology right now. Also, the Asia-Pacific region is expected to grow at a faster rate than other regions in the laser phosphor display technology market over the next few years. This is mostly because more and more people want consumer electronics that use less energy. It is expected that developing countries in the Asia-Pacific region, like China and India, will grow faster than the rest of the region. In the global market for laser phosphor display technology, the largest market shares are held by the public display segment and the advertising segment. During the forecast period, the retail sector of the global market for laser phosphor display technology is expected to grow at the highest compound annual growth rate (CAGR).
|Units||Value (USD Billion)
|Growth Rate||CAGR of 9.5% from 2023 to 2030|
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Laser Phosphor Display Technology Market Competitive Analysis
The research report on the Laser Phosphor Display Technology Market offers a close watch on main competitors with strategic analysis, micro and macro market trends and scenarios, pricing analysis, and an in-depth evaluation of the market's conditions throughout the projected period. This is a high-quality and exhaustive study that focuses on primary and secondary market drivers, market share, leading segment analysis, and geographic breakdown. In addition to that, the study investigates important players and organisations, big collaborations and partnerships, mergers and acquisitions, new trends, and business strategies.
The global market for Laser Phosphor Display Technology is extremely competitive. This is a result of continual research and development (R&D) and the efforts of value chain partners. In addition, important firms are employing various company growth methods to extend their regional and international footprint. This research profiles Prysm, Barco, Optoma, ViewSonic, Sony Corporation, Ushio Inc, Appotronics, and Panasonic
- September 5, 2018: Inc. announced the launch of its Laser Phosphor Display (LPD) 6K Series in India. Designed on Prysm’s patented display technology, the interactive, large-format single panel display offers a seamless and immersive visual experience. The solution is helping to define a new category of interactive large-format single panel displays, with bezel-free viewing above 100 inches, with screen sizes available at 190 and 135 inches.
- 12 October 2022: Sony has today announced the world’s smallest WUXGA 3LCD laser projectors 1, the VPL-PHZ61 and VPL-PHZ51 that combine advanced operational capabilities with high brightness and flexible installation, making them a reliable option for a wide range of corporate, education, museum and entertainment simulation applications.
Laser Phosphor Display Technology Market Segmentation
This section of the research on the market for Laser Phosphor Display Technology provides in-depth information on the various segments at the country and regional levels. As a result, it assists the strategist in identifying the demographics that should be targeted by the relevant product or service as well as the opportunities that are on the horizon.
- Sony Corporation
- Ushio Inc