|
The projection mapping market could be worth as much as US$8bn according to a new report on the technology
Tom Anstey | Planet Attractions | 22 Jul 2022
The Sydney Opera House has been well known in recent years for its projection-mapped displays
New research has revealed that the global projection mapping market could be worth as much as US$8bn (€7.85bn, £6.69bn) by 2030.
Prevalent in attractions development, projection mapping is a technique that uses colours and light to project virtual images on non-flat surfaces or irregular shapes such as city landmarks, industrial sites and public buildings. Famously lit up using this technique are major landmarks such as the Eiffel Tower in France and the Sydney Opera House in Australia.
Worth US$3.17bn (€3.11bn, £2.65bn) in 2021, according to the report from Grand View Research, the projection mapping market’s compound annual growth rate is expected to expand by 10.9% between 2022 and 2030.
Key insights from the report state that the events sector was the largest user of projection mapping in 2021, with increasing adoption of the technology being used for advertisement, promotion, product and event launches and sports opening ceremonies.
In terms of dimension, the 3D projection segment held the largest revenue share, with growth of the segment attributed to the increasing adoption rate of 3D over 2D by audiences as it has a higher potential in providing higher audience engagement. Moreover, combining 3D projection mapping and AR technologies offer an enhanced digital experience.
While the COVID-19 pandemic had a significant impact on the projection market in 2021, factors such as increasing demand for various events, and rising demand for better projectors for permanent and semi-permanent installations are driving demand in 2022. This is combined with the advancement in the technology of video projection, which is enhancing the digital experience for viewers.
The technology is most used in the Asia Pacific region, which is forecasted to grow 12.1% over the next eight years. The market growth of the region is primarily due to the increasing government investment, as well as private organisations to support and introduce advanced technology use across the region.
Find the report here
Technology
|
|
Supplier Showcase 2025: The biggest attractions projects landing worldwide this year
|
