benq: BenQ Leads India’s Projector Market in Q1 2022: Report

Ben Q was named the #1 brand in the overall projector category, according to market research consultancy Futuresource Consulting. The company reportedly recorded a 30% market share and held the top position in terms of market share in the B2C and B2B projector segments.
Covid-19 has seen the company’s market grow in the home video segment, according to the report. This led to an increase in sales volume in the 4K UHD resolution segment of 34% YoY in the first quarter of 2022. In terms of sales volume, portable projectors for the home segment increased by 82% YoY in the quarter. BenQ is said to lead the market with a 50% market share. Another form factor that saw good growth for BenQ would be 4K laser TV, where the company had a 51% market share.
The reopening of educational institutions and corporate offices in the first quarter of this year has led to an increase in demand for B2B projectors. Within this subcategory, the WXGA segment grew the most in volume at 108% year-over-year.
Analyzing the core light source of the market segment, the conventional lamp segment grew 32%, while the laser light source soared 150% in terms of sales volume during the quarter. Another important change was towards the preference for LED light source segment which increased by 54% in terms of sales volume indicating that the market is moving towards solid-state light sources instead of the traditional lamp source.
Rajeev Singh, Managing Director of BenQ India, said, “We are delighted and honored to be recognized as the #1 projector brand by Futuresource Consulting. With the reopening of educational institutions and offices and booming demand from the Home segment, the projector category overall saw 38% growth and BenQ saw 62% growth compared to Q1’21. Customer preference is moving towards high-end projectors where 4K resolution, solid-state light sources and accurate colors are the main drivers.