LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Projector Industry - Procurement Market Intelligence Report.
Digitization and interactive operation are becoming the new parameters in the fields of teaching, design, gaming, and healthcare. These parameters are being fulfilled by the implementation of 3D projectors that functionally utilize the dimension of depth to enhance the interactive experience. The steady popularity of this equipment will contribute to the spend growth of the projector market that has the potential to touch a value of over USD 8 billion with a spend momentum accelerating at a CAGR of over 9% through 2024.
In terms of regions, APAC accounts for the highest stake in the global projector market owing to the influx of IT projects that are being outsourced by corporate companies in Europe and the US. This necessitates the usage of projectors to facilitate corporate communications between the outsourcers and the outsourced. Meanwhile, in the US, the growing demand for computer-embedded smart projectors with interactive capabilities will bring significant investments in the projector market.
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What do the projector price trends indicate?
- Volatilities in the prices of raw materials such as steel, aluminum, and plastic will invariably increase the manufacturing cost incurred by projector suppliers. This will have a subsequent inflationary impact on the procurement expenditure of buyers.
- The manufacturing of projectors is an energy-intensive process. According to the projector price trends, forecasts of an increase in energy prices will increase suppliers’ OPEX which will have a subsequent impact on the buyer’s procurement spend.
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How to identify projector suppliers who can cater to your procurement needs while adding value to your business?
Keeping the market dynamics in mind, a strategic selection of suppliers does not end after procuring quality products at competitive rates. Maintaining effective relationship management with projector suppliers is essential to secure sustainable category management in the projector market that is predicted to undergo frequent price dynamism.
Assess suppliers for scalability and flexibility
Installation and usage of projectors for the long-term is a costly proposition. It is important for buyers to determine whether the projectors delivered can scale up to the buyer’s organizational requirements in the long run. The product offerings should be scalable to meet the requirements of buyers in the case of future expansion, thus enabling them to have consistency in the type of projector procured and deployed throughout the organization.
Warranty
The warranty on projectors or the individual hardware components (such as the light source) used in them are indicators of the reliability of performance offered by suppliers in the projector market. Moreover, warranties protect buyers from unplanned costs related to replacements and repairs for the time stated under the warranty contract.
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Some of the key topics covered in this report are:
- Projector market spend segmentation by region
- Total cost of ownership analysis in the projector market
- Regional spend opportunity for projector suppliers
- Projector suppliers cost structure
- Projector suppliers selection criteria
- Projector suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the projector market
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