In 2020, all segments of the laser projection market will be affected by the COVID-19 epidemic to varying degrees. Cultural tourism, night tours, and exhibition projects have been hit hard, and remote meetings have driven the growth of the business market. According to AVC Revo's "China Laser Projection Market Data Tracking Report", China's laser projection market sales in 2020 were 483.8 K units, a year-on-year increase of 9.3%; sales were 10.92 billion yuan, a year-on-year decrease of 6.4%.
The traditional Japanese brands in China’s laser projection market are represented by Epson, Panasonic, NEC and other brands, the Taiwanese brands are represented by Luxeon, Optoma and other brands, and the mainland brands are represented by Honhe, Hisense, Guangfeng and so on are the representatives.
Hisense: In 2020, the epidemic drove the development of the stay-at-home economy, and the home market became the fastest growing market. Laser TV, as the main laser product in the home market, also achieved rapid development. Hisense is the leader in the laser TV market. In the face of the epidemic, it has accelerated its layout of laser TVs. As of 2020, it has 1,133 laser TV-related patents. It ranked first in the laser TV market shipments in 2020, with sales increasing by 62.8% year-on-year.
Sonok: Sonok came from behind and ranked first in sales in the business market. With the development of the online economy in 2020, Sonok seized the opportunity to delve into the rapidly growing business market and quickly seize the market with low prices and high quality. market, sales increased by 251% year-on-year, becoming the fastest growing brand in 2020, and SNP-LX3200 has also become a hot product in the business market.
Honghe: Although Honghe’s market sales have declined, it still ranks first in the education market. In 2020, Honghe was affected by the epidemic and saw a severe decline in customer orders. On the other hand, Honghe adjusted its organizational structure and committed to Focusing on technology research and development, we are preparing to provide technical support for gaining market share after the epidemic. In 2020, Honghe's sales dropped by 18.7% year-on-year. In 2021, the Ministry of Education will further implement the Education Informatization 2.0 Action Plan, accelerate the construction of education private networks, and popularize digital campuses. In terms of construction and application, Honghe has become the leading brand in the laser projection education market and is expected to achieve a sales counterattack in 2021.
Epson: As an old brand in the projection industry, Epson faced huge downward pressure on performance due to the epidemic in 2020. It focused on the engineering market, with sales increasing by 26.5% year-on-year, occupying 13.2% of the market share in the engineering market, rising 2.1 percentage points.
Fengmi: Fengmi performed well in the home market in 2020, ranking second in laser TV sales, with a year-on-year increase of 31%. As a subsidiary of Guangfeng, Fengmi actively expanded its product lines and sales channels in 2020, winning three consecutive sales titles on 618 and Double Eleven, and successfully gained a 16% market share in the laser TV market.
Changhong: Changhong laser TV sales in 2020 were 30.9,000 units, a year-on-year increase of 7.1%, ranking third in laser TV sales. In the face of the epidemic in 2020, Changhong adjusted its organizational structure, actively expanded sales channels, cooperated with Digital China, and seized the market at low prices, increasing its market share by 3 percentage points.
Guangfeng: Guangfeng products are mainly used in movie theaters, engineering projects and the education market. In the first half of 2020, movie theaters across the country announced their closure, the postponement of the opening of primary and secondary schools across the country, and the operating difficulties of off-campus training institutions, all of which have affected the country to varying degrees. Guangfeng’s business expansion. According to Overrivo data, Guangfeng’s sales in 2020 fell by 2.3% year-on-year.
Sales volume and year-on-year sales of various brands in the laser projector market in mainland China in 2020
Data source: AVC Revo Unit: K units, %
Education market Under the trend of large sizes, create differentiated solutions
The advantages of laser projection products are no radiation, reduced eye damage, and low equipment maintenance costs. The education market is particularly fond of laser products. The education market has a clear trend towards larger sizes, and projection displays have the advantage of being cheaper than LCD displays and easier to install in homes with display solutions of over 100 inches. The suspension of work and school in the first half of 2020 put great pressure on the education market. According to Overview research data, sales in the education market fell by 4.2% year-on-year in 2020.
The engineering market pays more attention to scene-based solutions
"Landscaping" has always been the most important demand in the engineering market. Laser products are used in high-end monitoring rooms in industry, energy, transportation, etc. , the night tour economy has obvious unique advantages. The 2021 Tokyo Olympics and Beijing Winter Olympics will be held one after another, and the long-suppressed film industry will also usher in a great recovery. Overrivo predicts that engineering laser projection will become the fastest growing market in the laser market in 2021.
“Price is king” in the business market
In 2020, 37.6K units of business laser projectors were shipped, a year-on-year increase of 10.3%. In recent years, the average price of laser projection has been on a downward trend, but the price of business projection has remained relatively stable. In 2020, the market demand for online meetings will increase, and various brands will compete for the market. Sonok quickly seized the business market with its low-priced and high-quality SNP-LX3200 product.
Sales volume and year-on-year sales of laser projectors in mainland China in 2020
Data source: AVC Revo Unit: K units, %
Laser in 2021 Projection Market Outlook
The 2021 Tokyo Olympics and Beijing Winter Olympics will be held one after another, which will increase the demand for the projection market; at the same time, cinemas have opened one after another, and entertainment projects that have been suppressed for a long time have begun to bloom; after the epidemic, everything will be wasted To be revived, both engineering and commercial market demand will recover. Overrivo predicts that the laser projection market demand is expected to grow by 21.4% year-on-year in 2021.