- Laser TV is a type of display which uses lasers to display pictures on screen. Laser TV uses three colored lasers and a rotating mirror to direct the light on to a surface. The combination of different colors generates a wide range of colors compared to other display technologies.
- Laser TV produces sharp images and avoids the scattering issue which is seen in LEDs. Laser TV uses reflection imaging technology which does not impact the eyes, especially for children and older people.
- Demand for laser TV is expected to increase during the forecast period in both residential and commercial segments due to changing lifestyle and increasing popularity of digital marketing and home entertainment systems.
Key Drivers, Restraints, and Opportunities of the Global Laser TV Market
- Laser TVs are energy efficient as the power required for lasers is less; quality of laser is also accurate as compared to plasma and liquid crystal displays. Laser TVs have a longer lifespan and are wireless for ease of operation. The built-in audio feature saves on additional speaker requirement. Laser technology is energy efficient, durable, and creates bright colors which are not available in any other TV. The global laser TV market is thus expected to grow during the forecast period due to these features.
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- However, the laser TV market might face restraints due to the high cost of light source, lack of resources, difficult collaboration chain, and insufficient industrial investment. Industries are still struggling with the laser display standards, and non-traditional advertising technique, usually promoting the product in films and other media which is the trend.
- Major events such as concerts or expos use laser technology to display clear images. Ahead of major sporting events such as UEFA 2020 and Cricket T20 World cup, many restaurants, cafes, bars, and malls look for better display technology, thus creating an opportunity for the laser TV market.
- Manufacturers are coming up with new products such as the launch of a self-rising laser TV by Hisense in January 2020 equipped with TriChroma technology, and launch of new laser TVs by LG. Laser TV is expected to be the future of television. Growth in the gaming and sports industry is likely to further drive the demand for laser TVs during the forecast period.
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Asia Pacific to Lead the Global Laser TV Market
- Geographically, the global laser TV market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
- Asia Pacific is expected to dominate the market during the forecast period. China, Japan, and India provide favorable business opportunity to the market.
- Asia Pacific is projected to be followed by North America and Europe due to a rising entertainment industry and also due to various upcoming sport events.
Key Manufacturers Operating in the Global Laser TV Market
- The market is consolidated with the presence of few manufacturers. Manufacturers are trying to introduce new products at a lower price.
Leading players operating in the global laser TV market include:
- Appotronics, Inc.
- Dell Inc.
- Xiaomi Corporation
- BenQ Corporation
- Toshiba Corporation