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We Expect Projector Market To Grow At 25-30%: BenQ India MD
We expect this kind of growth rate to continue for next three to five years, says Rajeev Singh, Managing Director of BenQ India
Photo Credit :
Rajeev Singh, MD, BenQ India
More and more people are now seeing the value in owning high-definition projectors as we slowly transition past the pandemic. The change in the consumer behaviour in the projector market is now apparent, largely driven by quality content on the OTTs and a larger adoption of projectors in classrooms, conference rooms and auditoriums, as the world continues to rapidly open up. The demand around projectors is seeing a massive uptick and the trend is likely to continue on its upward trajectory.
BW Businessworld got in touch with Rajeev Singh, Managing Director of BenQ India, to understand the projector market in India. In this important interview, the industry pioneer shared some deep insights on the demand and new segments that are becoming popular in projectors.
What were the trends around the projector market during Covid?
Projectors are traditionally a B2B-heavy product line as they are mainly used in the classrooms, conference rooms and auditoriums. However, we have identified ‘home projectors’ as a good segment which has shown potential for growth in the past. It actually allows you to set up your own movie theatre in your room and gives you at least 100-150 inches screen size along with that same good quality of sound, and the signal processing equipment like AV receiver.
Additionally, entirely new segments have also emerged. First of which is ‘smart wireless projectors’. These projectors are very compact and they come with an inbuilt battery, unlike the normal projector they have a solid-state light source, which is LED. The lifespan of the projector is 30,000-50,000 hours that means you will never have to change the light source and it will last the entire life of the projector. Also, the projectors have started falling in the ‘Smart’ segment, which means it comes with an inbuilt Android and an inbuilt battery that makes it portable to use. One can easily carry it anywhere inside the home, outdoors (on a family vacation) or even in your backyard. So, this has become a new segment which was not present or not big enough earlier in the past. But during the Covid period, the use of projectors (small wireless portable projectors) has become very popular.
We have noticed, a lot of young couples these days take help of mobile phones to keep their children engaged but these display devices throw direct light at their eyes. This has been a concern for the parents. A new breed of projectors has come up that ensure that there is no direct light coming to your eyes. It's reflected light and one can project it on any surface (screen, wall or ceiling). In case a child comes in front of the projector, it will automatically stop projecting. This particular segment has emerged very strongly. We have launched GS50, which is also into this particular segment.
How is the projector market segment faring in India? What does the outlook look like moving beyond the pandemic?
The overall projector market was hit by Covid, as projectors were being used in classrooms and conference rooms. And we know that in the last two years, the classrooms have not operated mostly. Education to children was being imparted via the virtual mode. This has impacted the projector segment in the negative way.
But since last year, the market has been growing. This year, we expect the market to grow at about 25-30 per cent. We expect this kind of growth rate to continue for next three to five years. So, the projector industry in India is entering a good phase.
The schools have now opened up and so is the use of technology in the classroom, which has become a must. More and more kids are accustomed to a digital delivery of education, all the content for education being available in a multimedia format. This means that the classroom teaching will have more requirement of smart devices as compared to pre-Covid times. This will continue to drive the demand for projectors in classrooms, conference rooms.
We expect the home segment to grow also, which anyway is growing very fast because of the advancement in technology and the changes in the consumption habit of customers and their content. And the OTT and ad platforms also had a big role to play in this because there is so much of quality content available now.
Let’s talk about BenQ’s latest release, the GS50. What makes it stand out?
GS50 is a full HD projector. Generally, the projectors in the portable segment, are typically of lower resolution (WVGA resolution or HD resolution) but this projector is with full HD resolution and comes in with a very compact form factor. It comes with inbuilt Android TV as a Smart Projector and has an inbuilt battery that runs for 2.5 hours.
What happens in this projector segment is that as the resolution goes up the battery is not reliable and as the sound becomes important, sound quality is simply not good enough. We have taken care of giving it everything.
The GS50 has high-quality, powerful speakers. It has two 5-watt tweeters (mid-range) and a 10-watt subwoofer. So, there are three speakers giving you a 20-watt RMS power, which ensures high-quality sound for a compact projector. There is no real need to connect external speakers. However, you have an option of connecting external speakers through Bluetooth and through wire connection as well.
It delivers a very high-quality video. In terms of color coverage, it gives you up to 97 per cent of Rec.709. Along with that, it gives you a brightness of 500 ANSI lumens. Making it a complete package, which no other brand is being able to offer in the market.
In terms of looks, it is well rounded, kids friendly, comes with a magnetic connector for power. It also comes with a stylish carry-case, allowing the user to carry it anywhere they want. It can be used at home or outdoors.
How does BenQ India see itself growing in the near future?
We are already a market leader in India, as per the latest Futuresource report on projectors. When we look at the two segments of the market – B2B and B2C – we are leading both. But I will say that we are stronger in the B2C side because that is where our shares are typically at around 40-50 per cent of the total market.
However, in the B2B segment also, we have more than 25 per cent share of the market. Overall, BenQ commands 30 per cent of the total market in India. We see the market continue to grow fast, both in the B2B and B2C side going forward. We expect a pretty good future for next three years.