Laser Phosphor Display Technology Market Size, Share, Growth, And Industry Analysis, By Type (Monitor, Projector, Others), By Application (Commercial, Residential), Regional Forecast to 2031

Updated On: 08 April 2024

Laser Phosphor Display Technology Market Report Overview

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global laser phosphor display technology market size was USD 3386.8 million in 2022 and market is projected to touch 39272.96 million by 2031, exhibiting a CAGR of 31.3% during the forecast period.

Laser phosphor is a lamp-free projection illumination system that employs blue laser diodes as its primary light source. A combination of laser diodes, mirrors, and a phosphor screen powers the laser phosphor technology. These diodes send a laser signal to the mirrors, which subsequently project the lasers onto the phosphor screen, activating the RGB image sequence. It functions similarly to a laser printer, except that the image is refreshed at a significantly faster rate. Laser phosphor displays are similar to cathode ray tube technology, however instead of an electron gun, lasers are used to trigger phosphors. As a result, as compared to standard display technologies, laser phosphor displays never suffer from screen burn-in.

The increasing need for high-resolution displays, as well as the expanding acceptance of laser phosphor displays in various applications such as commercial, industrial, and others, are driving market expansion. In 2017, North America held the greatest share of the worldwide laser phosphor display technology market, followed by Europe and Asia Pacific.

COVID-19 Impact: COVID-19 pandemic has a negative impact on market size

The COVID-19 pandemic has a negative impact on market size for the year 2020, with small and medium-sized enterprises struggling to stay in business in the short term.We predict a 2% to 3% variation in growth forecast due to the spread of the Corona virus. During the pandemic, the halt in laser projector production as a result of the temporary suspension of industrial activities has resulted in a drop in laser projector sales, which is impeding market growth. People have been obliged to confine themselves to their homes in order to prevent the virus from spreading. People are watching videos, listening to music, and surfing the internet. During the lockdown, the usage of existing laser projectors to watch films at home has expanded dramatically. The global reopening of amusement parks, stadiums, cinema halls, and other public areas is projected to stimulate demand for laser projectors. Furthermore, the adoption of laser projectors by schools and colleges to improve learning experiences is projected to drive market expansion following the pandemic.

Latest Trends

"Product launches and innovation are driving market expansion"

Furthermore, the increasing number of product releases and other developments by market participants provide several growth potential within the industry. In India, for example, Prysm introduced the Laser Phosphor Display 6K Series, which has a high fill factor, an immersive bezel-free viewing experience, and an excellent contrast ratio, resulting in outstanding image quality. This new introduction will assist the company in expanding its product line. Furthermore, the increased adoption of laser phosphor display technology for new applications, such as military applications, is a major factor that creates immense opportunities for growth in the laser phosphor display technology market.

Laser Phosphor Display Technology Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into monitor, projector, others. Monitor is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into commercial, residential. Commercial will be the dominating segment.

Driving Factors

"Reduced electricity use drives market growth"

Laser phosphor display (LPD) consumes less energy than rival technologies such as light-emitting diode (LED) and LCD. According to Prysm, LPD uses up to 75% less power, and IAC reports that LPD uses 70% less electricity than other display technologies on the market. This is a major reason that is increasing the demand for LPD and is predicted to fuel the industry's growth rate. Increased demand from many areas such as medical, education, and defence can be attributed to the increase. When compared to typical LCD/LED panels, laser phosphor displays have a better contrast ratio, making them suited for high-resolution images exhibited on televisions, laptops, and smartphones.

"Increasing usage as a video wall fuel the market growth"

Laser phosphor display (LPD) is mostly utilised as a video wall. This Laser Phosphor Display (LPD), commonly known as the TD2, is the foundation of every Prysm. The video walls are built with the latest generation LPD TD2, a virtually seamless and bezel-free building block. A configurable number of TD2 can be stacked arbitrarily to build video walls of varying forms and sizes. As a result, the increasing use of laser phosphor display in video walls to increase image quality is expected to boost the growth rate of the laser phosphor display (LPD) market.

Restraining Factors

"high cost and scarcity of modern infrastructure may stymie market growth"

The lack of technological infrastructure for widespread production, as well as the high cost of research and development, are serving as market restraints for laser phosphor display (LPD), posing further challenges to the market's growth rate throughout the projection period.

Laser Phosphor Display Technology Market Regional Insights

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"Asia Pacific is predicted to be the fastest-growing regional market during forecast period"

From 2022 to 2031, Asia Pacific is predicted to be the fastest-growing regional market, with a CAGR of XX%. The increased adoption in China and Japan can be ascribed to the growth. Asia Pacific was followed by North America, which accounted for more than 20% of total revenue share in 2017 because to strong demand from the United States, Canada, and Mexico. From 2022 to 2031, the North American region is predicted to develop at a CAGR of XX%. The increase can be ascribed to increased adoption in the United States, Canada, and Mexico.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Sony Corporation (Japan)
• Appotronics (China)
• Panasonic (Japan)
• Barco (Belgium)
• Hitachi (Japan)
• Optoma (Taiwan)
• ViewSonic (U.S.)
• Prysm (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.