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(IndustryNews247.Com, June 29, 2020 ) Market Overview
• The Global Projection Mapping Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• Projection-Mapping uses technology to project objects onto a surface. Using this kind of special technology, everyday objects are transformed into a display surface for video Projection. It is similar to video Mapping and spatial augmented reality is a projection technology used to turn objects, often irregularly shaped, into a display surface for video projection. These objects may be complex industrial landscapes, such as buildings, small indoor objects or theatrical stages. Recently, projection mapping has been used more and more frequently by Walt Disney Imagineering and Walt Disney Creative Entertainment in the Disney Parks.
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• Rising investment in product advertising and increasing acceptance of projection mapping in media events worldwide are the major driving factors for the growth of the market. The demand for projection mapping is growing. Over the past three years, both the number of projects and the revenue they have generated have grown, driven by the need of a broad range of organizations to respond to the growing sophistication of increasingly blasé, tech-saturated consumers. Projection-Mapping has fully evolved since its first outings in the early 2000s when it was used to project visual-art and enhance live-music shows.
• Projection mapping can now be used by production companies to incorporate the telling of entire stories, by using animated visuals and music to produce cinema-style action and narratives. Large companies such as Nokia, Samsung, Unilever Pakistan, Pakistan Tobacco Company, Bank Alfalah, Brighto Paints, Benson & Hedges, John Players Gold Leaf and BMW have since used video projections to create campaigns for their products in major cities across the world.
• The high cost of using projection mapping and lack of user awareness about the projection mapping technology is the restraining factors for the market growth globally.
Market Segmentation Analysis
• By dimension, the projection mapping market is segmented into 2-Dimension, 3-Dimension, and 4-Dimension. The global projection mapping market size by 4-Dimension was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. 3D projection is any method of mapping three-dimensional points to a two-dimensional plane. Common techniques for these performances included both 3-D mapping techniques and 3D projection to create the illusion of depth, as well as movements such as crumbling buildings. The festival Fête des Lumières in Lyon, a festival to honor the Virgin Mary, has recently also started incorporating 3D mapping into their productions, creating the illusion of a giant pinball machine on the side of a building.
• By application, the projection mapping market is segmented into festivals, events, and others. Others include large venues and retail entertainment. The global projection mapping market size by festivals was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By offering, the projection mapping market is segmented into software and hardware. Hardware includes a media server and projector. The global projection mapping market size by hardware was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By throw distance, the projection mapping market is segmented into the standard throw and short throw. The global projection mapping market size by short-throw was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Market Geographical Analysis
• The North America projection mapping market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The North American market is projected to rise significantly in the forecast period as North American economy the USA is the key hub for commercial shows, events, and many sports events. The rising accessibility of 4D and 3D content and growing usage of virtual reality and augmented are estimated to increase the market by generating changes in the coming years. There is also an increasing demand for 3-d and 4-dimensional content projection as it produces more alert environments for all the applications in the forecast period. For the opening of the USC Village complex in Los Angeles in October 2017, The five-minute projection-mapping feature was set up by Bart Kresa Studio. They mapped two buildings on the main piazza, as well as the 150-foot-tall clock tower.
Market Competitive Trends
• The Projection Mapping market is competitive with existing players in the market.
• Some of the major players include Optoma, NEC Display Solutions, Viewsonic, Panasonic, Benq, Digital Projection Limited, Epson, Vivitek, Belgian American Radio Corporation and Christie Digital Systems.
• For YouTube Brandcast 2017, held in New York in May, event producer Good Sense & Company tapped the World stage to create a dynamic presentation backdrop using a mix of automated projection-mapped walls and LED technologies.
• For the Canada Olympic Excellence Day celebration in Montreal in 2015, Go2 Productions created an 18-minute projection-mapping experience leading up to the unveiling of the Olympic rings on the roof of the Canada Olympic Committee’s 23-story headquarters.
• Urban Projections worked with British artist Mat Collishaw and media artist Dave Lynch to create a mapped installation for the launch of the Jimmy Choo Vices collection in London.
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