Pico Projectors On The Rise!
Historically, the global commercial and service industry machinery manufacturing market, one of the segments in the machinery manufacturing industry, declined at a compound annual growth rate (CAGR) of around 5%. The decline is mainly due to decrease in construction activities thus leading to a fall in the demand for amusements and carnival parks. Also, stringent regulations related to food products, guns, and cigarettes also affected the market for vending machines globally.
Furthermore, the global commercial and service industry machinery manufacturing market size is expected to reach above $130 billion in 2021, declining at a CAGR of around 1%. This can be attributed to continued fall in demand for traditional camera and telescope lenses, equipment such as binoculars and typewriters in the forecast period.
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Pico projectors have significantly increased over the years, owing to mobility and high-quality picture features offered by these projectors. They are small portable projectors widely used in home theatres and office presentations. It is battery operated, and weigh around a pound using LEDs for large displays. Other benefits such as mobility, longer operational time, enlarging visual content and higher picture quality have created a significant market size for pico projectors. Integration of pico projectors with smartphones like Lenovo, Samsung, LG and Phillips have also a significant rise in sales in the past two years.
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The global commercial and service industry machinery manufacturing market was valued at around $140 billion in 2017. Asia Pacific was the largest region in the commercial and service industry machinery manufacturing market in 2017, accounting for nearly 55% market share. China was the largest country in the market in 2017, accounting for nearly 25% of the market share.
The commercial and service industry machinery manufacturing market is segmented into Optical Instrument And Lens Manufacturing, Photographic And Photocopying Equipment Manufacturing And Other Commercial And Service Industry Machinery Manufacturing.
Optical Instrument And Lens Manufacturing industry comprise establishments manufacturing optical instruments and lenses such as binoculars, microscopes (except electron and proton), telescopes, prisms, and lenses (except ophthalmic), coating or polishing lenses (except ophthalmic), and mounting lenses (except ophthalmic).
Photographic And Photocopying Equipment Manufacturing includes companies manufacturing photographic and photocopying equipment such as cameras (except television and video), projectors, film developing equipment, photocopying equipment, and microfilm equipment.
Other Commercial And Service Industry Machinery Manufacturing industry comprise establishments mainly involved in manufacturing commercial and service industry equipment, such as amusement park rides, water treatment equipment, vending machines, commercial cooking equipment, and commercial washing machines.
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