Epson has announced that it has increased its market share and is the dominant brand in the Indian Projector Market. This is as per the latest data published by Futuresource Consulting for the first half of FY18. FutureSource Market Insight Report is accepted as the worldwide projector industry standard.
Epson sold 48,867 projectors in H1 FY18 and had a market share of 33.7% for the period. Epson has increased its market share by 6% from the FY17 full year period, which they ended as No. 1 with 27.7% market share. Epson is now in a clearly dominant position in the projector market. Epson’s nearest competitor trailed with 24.9% market share for the H1 FY18 period.
Epson India’s market share for projectors has grown dramatically over the last 2 years with strong acceptance for the brands innovative projection products. Epson attributes its success to its proprietary 3LCD technology which is responsible for creating superior vibrant images that represent color accurately and recreate tones from a very wide color gamut. Futuresource Consulting, market specialists in visual displays, confirms that Epson is also the market leader worldwide, for the past 17 years from calendar year 2001 to 2017, with a market share of 36.4% worldwide in calendar year 2017.
As per the Futuresource report 144,824 projectors were sold in India during the first half of the financial year which represented a marginal increase of 2.3 % in overall sales over the corresponding period last year. The growth of the projector market in India is attributed to growing demand from the education, SMB and home segments. Due to a focus on digital learning and smart classrooms, demand for Interactive Projectors is also growing rapidly in India.
According to A K Harish, General Manager of Visual Products, Epson India, “It has always been our endeavor to create superior products that offer unmatched value to our customers, nowhere more so than with our 3LCD projectors. It is this spirit that reflects in every product we have brought to our customers. We design, manufacture, sell and service our products ourselves – processes that not many can claim to have in this industry. Our 3LCD technology ensures our projectors provide images that are up to 3 times brighter than competing technologies. Our customers know and appreciate this and it is for this reason that we have been able to grow our market share. We intend to boost our growth momentum in the coming years and stay No 1 in the market.’’
Coupled with high-quality performance, innovative features and technology advancements, Epson’s most recent projectors elevate the user experience with collaborative tools on their interactive projectors, and with 3LCD Reflective laser technology and 4K enhancement for their state-of-the-art home theatres. The projector market in India has been growing at 5% -8% for the last few years, but for the next 5 years, Epson sees a huge opportunity for market growth in India.