[Nail Technology Observation] China's projector market, undercurrents surging. The seemingly clear competitive landscape has the potential for sharp fluctuations.
A few days ago, the market research agency IDC released the Data of China's Projector Market, first look at the basic situation: the report shows that the total shipments of China's projector market in 2021 reached 4.7 million units, an increase of 12.6% year-on-year. Sales exceeded 21.4 billion yuan, an increase of 19.5% year-on-year. IDC expects the Chinese projector market to sell more than 5.6 million units in 2022, an increase of nearly 20% year-on-year.
Obviously, this is a sunrise industry. Especially compared with the color TV industry, which is also in the audiovisual industry track, the growth momentum of the projector market will be envied. It should be known that in 2021, the sales volume of the color TV industry fell below 40 million units, setting a new low in the last 12 years.
From the perspective of brand pattern, Jimi took the lead, with a market share of 21.2%, exceeding the sum of the shares of the three brands behind Epson, Nuts and Fengmi.
"Nail Technology" believes that from the above data, it can be seen that the projector market has the following two characteristics:
First, the market lacks waist brands. At present, after the pole meter, no projection brand has a share of more than 10%. From the trend point of view, with the increase in the share of extreme rice, the market share of brands such as nuts is still declining, and there is a lack of truly competitive waist brands in the market. In other words, the entire projection market is a pattern of "one super and many weak".
Second, the brand concentration is not high. From the data point of view, the share of the fifth sales volume of Dangbei is only 3%, and the "other" brands occupy a total of up to 56.4% of the share, indicating that there are a large number of small brands in the projector market, and the brand concentration still needs to be further improved.
Based on the above characteristics, Nail Technology believes that this will be more beneficial to some late-developing brands. For example, Hisense Video recently announced that it will launch the first product of laser intelligent projection. Due to the deep technical accumulation in the field of laser display, and the more powerful brand pull and channel capabilities compared with projection brands, Hisense's performance in the laser intelligent projection market is worth looking forward to.
When brands such as Jimi, Nut, Fengmi, and Dangbei vigorously laid out the projector market, many audiovisual giants did not really exert their strength. "Nail Technology" believes that this is because there is a certain substitution effect between the two categories of projection and television, and the audiovisual giant needs to balance the relationship between the two.
With the continuous advancement of technologies such as AI, IoT and laser display, as well as the continuous iterative demand of consumers for audio-visual products, the scale of smart projection products entering the home side is already a general trend. Previously, the "Consumption Characteristics and Consumption Trends of Generation Z" report released by the market research and analysis agency Qianqu GKURC showed that when Consumers of Generation Z added large-screen audio and video entertainment equipment to their homes, 35.08% of the respondents chose to buy smart TVs, 29.95% of the respondents chose to buy smart projections, and smart TVs and smart projections accounted for 34.97%.
Based on the requirements of multi-category layout and full-scene coverage, audio-visual giants have increased their efforts to lay out projection products, or become a new trend.
As mentioned above, due to the projection market "one super and many weak", brand concentration is not high, there are a large number of small brands, audiovisual giants enter the projection market, there is an opportunity to change the existing brand pattern, by upgrading the threshold of competition to accelerate the elimination of small and medium-sized brands, the formation of a relatively stable waist force, and the extreme rice poses a strong challenge. From "one super and many weak" to "one super and many strong" or "how strong and standing together", this is also completely expected. (Nail Technology original, reprint please be sure to indicate the source of "Nail Technology Network")