BenQ Dominates Projector Market with 30% Share in Q1’22

The Futuresource Consulting report has named BenQ as the #1 brand in the overall projector category. The company registered a 30 percent market share in both B2C and B2B projector segments in Q1 2022, as per the recent report.

The demand for large screens to watch movies and other entertainment at home is driving the market for high-definition projectors. Covid-19 has also been a catalyst contributing to market growth in the home video segment.

As per the report, sales volume in the 4K UHD resolution segment increased by 34 percent YoY in Q1 2022, and BenQ was the industry leader with a market share of 53 percent. Moreover, in terms of sales volume, the portable projectors for the home segment grew by 82 percent YoY in Q1 2022, with BenQ leading the market with a 50 percent market share. Another form factor that has seen stupendous growth is the 4K Laser TV in which BenQ has a formidable 51 percent market share.

Q1 2022 also saw the reopening of educational institutes and corporate offices. This led to the increase in demand for B2B projectors.  In this sub-category, the WXGA segment grew the most in volume by 108 percent YoY and BenQ is the market leader with a 50 percent share in Q1 2022. BenQ is also the number one brand in the Full HD data projectors with a 27 percent market share.

Analyzing the market segment basis light source, there is a clear trend visible in terms of customer preference. While the conventional lamp segment experienced a growth of only 32 percent, the Laser Light Source segment grew by a whopping 150 percent in terms of sales volume in Q1 2022 compared to Q1 2021. Another significant shift has been towards the preference for the LED Light Source segment which increased by 54 percent in terms of sales volume in Q1 2022 indicating that the market is moving towards solid-state light sources instead of traditional lamp sources.

Rajeev Singh, Managing Director, BenQ India, said, “We are delighted and honored to be acknowledged as the No. 1 brand in projectors by Futuresource Consulting. With the reopening of educational institutes and offices and the continued booming demand from the Home segment, the projector category has overall seen a growth of 38 percent and BenQ has experienced a growth of 62 percent as compared to Q1 2021. Customer preference is moving towards high-end projectors wherein 4K resolution, solid-state light sources and accurate colors are the key drivers.”