The Taiwan-headquartered projector firm Optoma Corporation has become the top DLP projector brand in India with close to 25% of the market share by end of July 2021. The company now plans to aggressively tap the home projector segment, ProAV and education projector category with an array of new product launches for these categories in the coming months. In a candid conversation with DeviceNext, Vijay Sharma, Country Head, India, Optoma Corporation shares insights about Inida’s projector market and latest product offerings of Optoma.
What are the latest consumer trends you are seeing in home entertainment and Projector market in India?
The Indian home entertainment & projector market is witnessing double digit growth for past couple of
years. Despite overall negative impact of the pandemic situation across the sector, there are new opportunities for Home Entertainment Projector market. Year 2020 and first half of 2021 magnified the
already apparent shift from small screen digital devices and TV viewing to large screens which is continuing in 2021. Now consumers are bringing the entertainment in larger than life size to their homes, living rooms and bed rooms whether it is movies, events, sports or shows. Technological advancements in projectors are also playing a pivotal role through affordable 4K UHD products, long life laser light source, ultra-short throw
projectors to reproduce 120 inches and bigger screen from inches and high brightness products.
Share with us your latest product line and its key specs.
The new Optoma P1 PRO and P2 both come with advanced features. While P1 PRO elevates its brightness, P2 enhances its colour with the new 6-segment colour wheel. Both are dedicated to bring higher contrast ratio and richer and true-to-life images for the premium home cinema experience. Continuing the design with DuraCore Laser technology and Ultra Short Throw lens, they too deliver up to 120-inch images from inches away. And the built-in Dolby Audio 2.0 soundbar are to complete the all-in-one entertainment for movie and TV watching, media sharing, and gaming.
UHD33 & UHD35+ is a true blood 4K UHD projector which is affordable yet delivers superior picture quality for the home theatres.With 3,600 & 4000 ANSI lumens of brightness and an impressive 1,000,000:1 & 1,200,000:1 contrast ratio respectively, along with HDR10 and HLG (Hybrid-Log Gamma) compatibility, these produces rich, lifelike colors and delivers accurate, sharp, and high quality images by leveraging its XPR technology & latest 4K UHD Texas Instrument’s DLP Chipset 7541.
Where exactly you are positioning Optoma in the India market and also global number
Optoma is no.1 DLP Projector brand in the world and we are No. 1 in Indian market for the 4K UHD Projector segment which is seeing the highest growth in projector business. We are going to focus on the segments where our strength lies which are home and Pro AV segments. Our USP is our advanced technology. We have always been the first movers in the industry by introducing innovative products for all the segments. In 2021, with our innovative and forward looking products, we would focus on the home segment and keep our commitment with Indian market by launching new AV products. For education and corporate segment we have launched Interactive Flat Panel (IFP).
Upcoming technology that Optoma is investing in right now or R&D
Our current focus is on bringing Laser Technology for projection to each segment of projectors. Not only does it gives product a long life from 4000 hrs to above 20000 hrs, it is easy to maintain and witnesses less outage over the life cycle of product. Its colour reproduction capabilities are superior to lamp based projectors. We are hopeful to make the laser light source projectors upto 80% of our product line up in next 1~2 years.
Another technology we are focusing on is the transition of from lower resolution projectors to 4K & 4K UHD Projectors, the new variants of the projectors output images of 4K UHD (3840×2160) and 4K (4096×2160) resolutions. The images produced by these projectors have extensive details and allow a cinematic and engaging experience. 4K UHD and 4K projectors became available for commercial applications (digital cinema) in the early 2000s and have also gained the attention of the consumers in the recent years.
Closing comments with some facts and figures.
The home theatre segment in India is expected to increase enormously. The market growth would be close to 15% and the size would be US$477m in 2021. Household penetration will be 2.3% in 2021 and is expected to hit 4.3% by 2025. Since the Covid-19 pandemic, the importance of home streaming and home cinema has increased as movie theatres have not witnessed any footfall for months now and still very low due to change in consumption habits. In the coming years, entertainment and streaming devices would be part of the households and with the trend of work and education from home increasing in India, it is anticipated that the overall growth of the industry would be positive.