Chan Ye Xin Xi Wang·2025-04-27 01:25Industry Overview - The projector industry has seen rapid development since 2016, driven by consumer-level penetration, new light source applications, and the expansion of online channels [1][17] - The COVID-19 pandemic significantly impacted the industry in 2020, causing fluctuations in shipment volumes [1][17] - As of 2023, the projector shipment volume in China is expected to grow annually, with an estimated total shipment of approximately 5.5 million units in 2024 and a projected 9.26 million units by 2028 [1][17] Market Structure - The projector market is primarily divided into home and commercial segments, with home projectors accounting for over 80% of the market share in 2024 [18] - The consumer base is becoming younger, leading to increased demand for smart home entertainment solutions [18] Industry Development History - The projector industry in China can be divided into three stages: the embryonic phase (1990-2000), the initial phase (2000-2010), and the rapid development phase (2010-present) [5] - The market for home projectors has grown significantly, with nearly 70% market share in 2022 [5] Industry Chain - The projector industry chain consists of three main segments: upstream (core components like chips and lenses), midstream (manufacturers), and downstream (end-user applications) [7][9] - Upstream suppliers include companies like Rockchip, Allwinner Technology, and Sony, while midstream manufacturers include companies like XGIMI and Fengmi [9] Key Companies - XGIMI Technology has established itself as a leading domestic brand, achieving full-chain self-research capabilities and strong sales performance [21][23] - Other notable companies in the industry include BenQ, Epson, Sony, and Panasonic, which dominate the commercial projector market [21] Market Trends - Online channels are becoming a significant sales avenue for projectors, shifting the consumer structure from B2B to B2C [27] - The consumer market is expected to continue growing, driven by the demand for high-quality home entertainment experiences [28] - New application scenarios, including automotive and AR/VR technologies, are emerging as growth points for the industry [30]