According to the latest FICCI-EY report titled ‘Reinvent: India’s Media & Entertainment Sector is Innovating for the Future,’ the Indian M&E sector grew by 8 per cent in 2023, reaching US$27.9 billion with online gaming, filmed entertainment, and live events being key contributors to this positive growth. The advent of OTT platforms and the availability of films and web series in various languages have also spurred this exponential growth in the home entertainment segment.
Moving from television sets, more home entertainment consumers are now keen on laser projectors to enhance their movie-viewing experience at home. Along with cutting-edge technology, user-friendly features and advanced sound systems, another key factor that Indian home entertainment considers is budget-friendliness.
“Projectors were earlier mainly used for business presentations, big events and educational purposes. However, now they are becoming popular among home consumers, thanks to the availability of a wide range of entertainment options at home that demand a big-screen experience. Though Indian home entertainment consumers still prioritise the technical aspects of laser projectors, they also place equal importance on cost-effectiveness,” says Sushil Motwani, founder of Aytexcel Pvt Ltd.
The transition from TV sets to laser projectors will be gradual, but Mr Motwani believes that next-generation features, portability, flexibility, unmatched screen size and stunning visual quality are luring more consumers to opt for projectors. “Unlike devices like televisions, laser projectors do not dominate a space, are portable, unobtrusive, and can be installed in diverse indoor and outdoor locations. Adding to these features are the budget-friendly options available in the market, which will attract more people, especially from the middle-class segment who previously thought projectors were too costly to afford,” adds Mr Motwani.
Another factor is that post-pandemic, the power dynamic in the entertainment market has shifted significantly towards the viewers, whose consumption patterns now prioritise convenience. “Advanced projectors fit easily into their lifestyles. They can watch and enjoy a wide range of content from movies and TV shows as well as live events and gaming on the big screen at home,” says Motwani.
Considering the rising interest in mid-range projectors, brands like Formovie are coming up with more budget-friendly options and additional features. For instance, Formovie’s C3 UST Laser ultra-short throw projector, offers a free Amazon 4K Fire Stick Max.
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“Consumers also want to minimize their dependence on multiple devices and prefer user-friendly features integrated into a single device. That explains the popularity of products like the Formovie Xming Page One, which is the world’s first Google TV projector and also comes with native Netflix integration,” concludes Mr Motwani.
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