Prospect research data indicates that China's conventional projector market witnessed a decline in 2024. Both sales volume and revenue dropped year - on - year across all sectors, with the commercial and educational sectors seeing the most significant decreases. The engineering projector market remained relatively stable, driven by the boom in the cultural and tourism industry. However, industry profits were squeezed due to fierce competition among multiple brands and the strong market penetration of products such as small - pitch LED displays. Although the household projector market received some relief from favorable policies including government subsidies and trade - in programs for consumer goods, the impact of low - end projection products like mini - projectors on the high - end market remained prominent. As a result, both the sales volume and market scale of conventional household projectors came under immense pressure.
A variety of annual favorable policies have boosted digital consumption and the cultural and tourism industry, exerting a positive influence on the projector market. The Measures for Intensifying Support for Large - scale Equipment Upgrades and Trade - ins of Consumer Goods has allocated 300 billion yuan to support equipment renewal. The Opinions on Promoting the High - quality Development of Service Consumption encourages the development of new formats such as immersive experiences and digital art. National subsidy policies for large household appliances have driven up the sales of household projection products. The Notice on Matters Concerning Standards for Domestic Products and Implementation Policies in Government Procurement clearly stipulates that domestic products will be granted a 20% preference in price evaluation for government procurement. Additionally, the government has emphasized the goals of advancing the digital empowerment and informatization transformation of cultural development, and accelerating the growth of the digital cultural and creative industry, on - site immersive entertainment formats, and the integrated digital cultural tourism industry.
Competition in the upstream technology of projectors has intensified. Texas Instruments has fully launched low - cost DMD chips, among which the 0.65 - inch and 0.8 - inch chips have been widely applied in various products. The 3LCD panel technology has been further optimized, and the number of 4K - resolution products has been gradually increasing. In addition, single - panel LCD manufacturers such as BOE Technology Group and Huaxing Optoelectronics have expanded their production capacity while continuously upgrading their technological capabilities. Meanwhile, domestic manufacturers have made certain progress in the research and development of projection optical technologies including LCOS and 2LCD. Faced with market challenges, major brands have generally tightened their expenditures by strictly controlling costs and cutting R&D budgets. Simultaneously, the distribution channels for projectors have become more flattened. Operational efficiency has been improved by reducing the number of distribution tiers and optimizing resource allocation, and sales policies have tended to be more flexible and diversified. During the same period, affected by the slowing growth of domestic consumer demand, numerous companies in industries including projectors have shifted their focus to overseas markets. Chinese commercial display enterprises have generally achieved scaled growth in overseas markets, with profit margins significantly higher than those in the domestic market. This has attracted more companies to accelerate their international expansion.
Nearly 700 new projector models were launched in the market in 2024. In terms of brightness distribution, over 60% of the new products fall within the 4,000 - 10,000 lumens range, indicating that brands have focused their efforts on the mid - to high - end and engineering projector markets. In terms of resolution, WUXGA, 4K, and WXGA have become the mainstream options. Regarding light sources, almost all new models adopt laser light sources, which have become the dominant technology in the market. Classified by display technology, the number of 3LCD - based projectors exceeds that of 1DLP - based ones. This ratio stems from the fact that several well - established OEM 3LCD models have been adopted by multiple brands, leading to the emergence of a large number of derivative product models.
