The new battle of the intelligent projector

Produced | The front line of entrepreneurship

Author | Huang Yanhua

Edit | Egg

What is the biggest change in the living room in contemporary young people? In various answers, the "projector replaces the TV" must have a place.

In recent years, smart projectors have been favored by young people. On social platforms such as Douyin and Xiaohongshu, the "grass planting" videos or posts of related brands -Douyin "projector" topic has been played 3.2 billion times. There are more than 450,000 projector notes on Xiaohongshu; on the e -commerce platforms such as JD.com and Taobao, the sales of projectors have continued to rise.

And so far in the development of intelligent projection, those who entered the bureau can be described as Yunyun: In addition to Internet projection brands such as XGIMI, Nuts, there are also old -brand home appliance giants such as Hisense, Samsung, as well as technology giants such as Xiaomi, Lenovo Essence

Those who enter the game also mean that "the inner volume intensifies", the current intelligent projection industry seems to usher in the "bottleneck period".

On May 30, the "China Smart Project Market Monthly Tracker" released by the "China Smart Projector Retail Market Monthly Tracker" released by Ratu Technology showed that in April 2022, the online sales volume of China's intelligent projection market (excluding laser TV) was 25.8. Thousands of units, a year -on -year decrease of 3%; sales were 480 million yuan, a year -on -year decrease of 15%.

This is the second online sales in the intelligent projection market in the past two years after October 2021.

As a new generation of home appliances for young people's "must -have at home," and smart projectors with high topics on the Internet, why did sales suddenly declined online? What are the current challenges of the intelligent projection industry? The "new war" in the intelligent projection industry is about to start?

1. From unpopular to being paid attention to

In fact, smart projection is not a new track that has emerged in recent years.

According to the "front line of entrepreneurship", Huo Le technology (Nuts Project JMGO) began producing smart projectors in 2011. However, at that time, large -screen TVs were the mainstream of the market, and the new category of smart projectors was not favored by the outside world.

To this end, XGIMI proposes the concept of "home intelligent projection". "Frankly speaking, when we proposed this concept that year, the entire industry can be said to be a sarcasm. Some traditional projection companies almost think that smart projection is a track that cannot be successful." "Frontline" indicates.

"At first, everyone didn't know what smart projection was. It was said that it was a screenless TV, and then explained that it did not have screens. People could watch movies, TV series, variety shows, etc. What is it, where is its scene. "Jiang Long, deputy general manager of Vidda's business department, told the" front line of entrepreneurship ".

In 2014, with the influx of many capitals, intelligent projection gradually transitioned from the new home entertainment terminals accepted and recognized by more young consumers from the edge of niche categories, and the industry began to enter the rapid growth track. Because of this, this year is regarded as "the first year of smart projection".

Six years after the development of the market, that is, in 2020, the home intelligent projection market ushered in explosive growth. A previous report released by Loto Technology showed that the sales volume of home projection products in 2020 was 3.72 million units, an increase of 15%year -on -year, and sales of 8.78 billion yuan, an increase of 12%year -on -year.

(Figure / Photo Network, based on VRF protocol)

The sudden new crown epidemic is a direct factor that boosted this growth: on the one hand, during the epidemic, non -living places such as theaters, KTV, and game halls must be suspended. Playing games and other methods to relieve anxiety, so they have to transfer their enthusiasm for entertainment to the room.

As a smart projector that can bring an immersive movie viewing experience and a hundred inches of large -scale pictures to young consumers, it takes the way to take this "home economy".

On the other hand, under the catalysis of the epidemic, many new scenes such as online education, remote office, online fitness, and online games have begun to be born. "These new scenarios not only brought opportunities to the development of the intelligent projection industry, but also deepened consumers' awareness of it." Liu Dingkun, an analyst at Loto Technology, told the "front line of entrepreneurship".

In fact, the growth momentum of smart projectors continued in 2021. According to Lotur Technology data, in 2021, the market sales of China ’s household intelligent projection (excluding screen laser TV) reached 4.91 million units, an increase of 29%year -on -year; market sales reached 13.2 billion yuan, a year -on -year increase of 32%.

It is worth mentioning that on March 3 this year, XGIMI Technology was listed on the Shanghai Stock Exchange with a issuance price of 133.73 yuan/share and officially landed on the science and technology board. Up to 883.78 yuan/share.

"The successful listing of XGIMI marks the success of the exploration of Xiangmi and Nuts and other pioneers on the intelligent projection industry." Jiang Long said.

2. Only 4%of the market penetration rate

In 2022, the growth momentum of intelligent projection continues.

According to Loto Technology data, the online sales volume of the Chinese intelligent projection market (excluding laser TV) in the first three months of 2022 was 412,000, 245,000, and 303,000 units, respectively. And 15%.

However, by April 2022, the online sales of China's intelligent projection market (excluding laser TV) were 258,000 units, a year -on -year decrease of 3 percentage points. The reason why the online sales of the intelligent projection market (excluding laser TV) decline are related to the poor online sales of most DLP brands' smart projection products. (Editor's note: "DLP" is the abbreviation of DIGITAL LIGHT Processing, that is, digital light processing. This technology must first use the digital processing of the image signal and projected the light.)

As everyone knows, in April this year, the epidemic in Beijing, Shanghai and other key cities is more serious. The epidemic has a negative impact on the production, logistics, and consumer purchases of smart projectors. "Especially like Shanghai and some cities around them, it belongs to a more concentrated area of ​​the photoelectric industry, and the impact can be said to be greater." Liu Dingkun said.

In this regard, Jiang Long also mentioned that the epidemic in Shanghai, Kunshan, Suzhou, Shenzhen and other places has caused some trouble to the upstream supply chain and production of intelligent projection, and such hardware products, who lacks a accessory, it is very very lacking in it. Difficult to produce.

"In March and April of this year, VIDDA's development and trial production work has also been affected, but benefited from the strong advantages of the Hisense platform supply chain and overcomes difficulties. New products can catch up with the 618 listing." Jiang Long admitted.

In addition, from the perspective of consumers, the smart projector is a non -rigid product, which is more about improving the quality of life of consumers. Therefore, the epidemic will definitely inhibit the consumer's desire to consume. "In the case of poor overall environment, they are likely to choose more savings instead of more consumption." Liu Dingkun said.

In addition to the epidemic, the shortage of chips has caused the decline in production capacity, which is also an important reason for the intelligent projection market (excluding laser TV) online sales.

Due to the tightness of the epidemic and international trade relations, there have been problems with chip shortages around the world and the entire industry, and the intelligent projection industry has not been spared. The shortage of chips leads to the supply of most DLP smart projection brands into a state of tension, which will affect the sales of smart projection products.

In addition, the decline in online sales in the intelligent projection market (excluding laser TV) is also related to the "light moon". According to Liu Dingkun, April in April is the light moon in the intelligent projection industry. "During this period, the promotion time of the e -commerce platform is short and the promotion is weak," she said.

However, there are still a few DLP brands of smart projection product line sales are increasing, such as extremely rice and nuts. According to Hu Zhenyu, the founder of Nuts Projection, in April of this year, the online sales volume of Nuts' intelligent projection instruments increased by 80%year -on -year.

As for the reasons why the sales of nuts rising against the trend, in addition to the breakthrough of new gameplay at the marketing level, it mainly benefits from the beginning of this year's Q2, the problem of chip shortage has gradually been relieved. Brand customers have relatively improved supply relative to other small brands.

It is worth noting that although the domestic intelligent projection industry has gone for 11 years, the market is still in the early days of development. Loto Technology data shows that the current market penetration rate of smart projection in China is only about 4%.

However, from the perspective of technical renewal and iteration, the intelligent projection industry has basically entered the stage of midterm development. "Technology, products, actual use scenarios and the effects of presentation are mature." Shen Yi said.

In addition, according to Liu Dingkun, intelligent projection is still mainly online sales, accounting for about 70 % and 80 %. However, all rice is gradually making offline channels. Shen Yi said that as of the end of 2021, XGIMI had nearly 200 stores across the country. At the end of this year, the data of this store will increase.

The reason why XGIME speeds up the offline layout, Shen Yi said that the number What kind of changes are brought to to achieve the purpose of the education market.

Generally speaking, the current competition in the intelligent projection market is fierce, and the market concentration is still not high. "From our (Lotu Technology) data, the total market share of smart projection TOP4 brands is less than 50%." Liu Dingkun said.

Specifically, the competitive situation in the smart projection DLP market and the smart projection LCD market is different. (Editor's note: "LCD" is the abbreviation of Liquid Crystal Display.

First look at the DLP market. The market is currently concentrated. The top four DLP brands have a total market share of more than 80%, which basically belongs to a very high oligopoly market, and the market structure of each brand is relatively stable. "The TOP10 brand may always be the TOP10 brand, and the ranking may change slightly due to factors such as promotional activities and the rhythm of new products." Liu Dingkun analyzed.

Looking at the LCD market, the current market concentration is relatively low. The top four LCD brands have a total market share of less than 40%, which is a highly competitive market, and the brand's market pattern is relatively scattered. "From the data released by our (Lotu Technology) each month, there are four or five LCD brands with stable ranking 10, and the others have been changing." Liu Dingkun said.

In addition, the LCD brand focuses on e -commerce channels, which mainly seize the market through low prices. LCD players' overall brand shaping capabilities are relatively weak, which has also led to lower loyalty to users. In Jiang Long's view, due to the relatively low barriers to the LCD projection market, some new brands spend one or two generations of products in one or two years, and then cooperate with marketing how to quickly start and become the forefront of the industry.

Compared with the LCD projection market, the DLP product experience is better and the market threshold is higher. Once smart projectors successfully entered the DLP market, it is easier to gain a foothold. Therefore, for large companies such as Hisense, Xiaomi, Lenovo, they will inevitably attack the DLP market of the high -end and high -end positioning.

3. Three major puzzles to solve

It is true that the intelligent projection track is becoming more and more lively, but the industry faces challenges and cannot be ignored.

The first problem is how companies should avoid the deficiency of intelligent projection parameters.

So, why are smart projection companies generally deficient in smart projection parameters? On the one hand, because of their survival pressure.

Zhang Wei, who has been engaged in the intelligent projection industry for a long time, recalled the "front line of entrepreneurship". At the beginning of the industry, there was no problem of the fictional problem of the so -called intelligent projection parameters. Later Effective. "(After the rules of the industry are destroyed), if the new player is not falsely standardized with smart projection parameters, it is difficult to get a share in the existing market." He said.

(Figure / Photo Network, based on VRF protocol)

On the other hand, it is related to the platform review. Zhang Wei said that if the platform is hardly required to settle in the labeling of the parameters, the platform is reasonable and standardized, and the phenomenon of intelligent projection parameters will inevitably be effectively curbed. "But the problem is that many platforms are‘ open one eye and close one eye. ”He admitted.

Of course, Tmall and JD.com have also made the above attempts on smart projectors. "But some cottage manufacturers, the platform banned it today, it will change the brand tomorrow. Many times the factors are complicated, not a unilateral reason." Zhang Wei said.

As one of the industry players, VIDDA is also trying to participate in the problem of the general deficiency of intelligent projection parameters. On the one hand, Vidda said that he was resolute and found a credible third -party authoritative agency to prove itself. "For example, our measured brightness was measured by the National Radio and Television Product Quality Inspection Center, not we measured by ourselves." Jiang Long said.

On the other hand, VIDDA will increase the contact of consumers' actual intuitive experience. By carrying out offline experience activities, and 7 × 24 hours on its official account number, let consumers see that the real brightness of VIDDA products should be the real brightness of VIDDA products. What does it look like.

Coincidentally, the phenomenon of XGIMly also gives corresponding solutions for parameter deficiency.

"We will tell consumers that brightness, color, and noise are just a few of them. Where are the smart projection? Let consumers see the truth, and learn more about how smart projection is considered qualified products. "Shen Yi told" the front line of entrepreneurship ".

It is reported that XGIMI also jointly creates the standards and specifications of the intelligent projection industry with relevant departments in some countries to guide consumers to correctly recognize it.

In the opinion of Hu Zhenyu, the founder of Nuts Project, in order to avoid the problem of deficiency of intelligent projection parameters, the platform and merchants need to be promoted. "While the platform requires more standardized merchants, merchants also need to regulate their own behavior," he said.

In addition to the above -mentioned challenges, "how to make projection display technology localized" is the second difficulty facing the intelligent projector industry.

As we all know, DLP technology was first developed by Texas Instruments and is still in the hands of foreign security manufacturers. The core technology of 3LCD projectors is in the hands of Epson and Sony, but because Sony does not sell 3LCD related technologies, all 3LCD LCD projectors other than Sony are provided by Epson.

In addition, the LCOS chip market is almost monopolized by US -Japanese companies.

It can be said that except for LCD technology, almost all technologies such as DLP, 3LCD and LCOS are in the hands of foreign manufacturers. "If you rely too much on foreign technology, domestic smart projection players will inevitably face the risk of 'being stuck in the stuck neck." Liu Dingkun said.

In addition, the third level in front of smart projectors is "how to expand more segments."

Jiang Long said that the portable attributes of intelligent projection itself and its huge screens have determined that it is an extremely rich product.

For example, its location can be the living room, bedroom, terrace, courtyard, and even outdoor. Its use can be watching movies, playing games, K songs, listening to music, online classes, and sharing PPT. There are many.

But at present, smart projection has obvious pain points in most scenarios. Take the viewing scene, compared with other audiovisual devices such as mobile phones, PAD, TV, in addition to the huge room for improvement in the quality of the smart projector, it also faces problems such as low brightness, poor resolution, and blurred dark field.

For another example, the power supply problem, currently portable devices such as mobile phones, PADs, notebooks, etc. are almost uniformly used to use Type-C devices, while smart projection products are generally used in DC jack power supply, which cannot be universal.

There is no doubt that the above -mentioned problems require companies to work together to gradually overcome, and the improvement of technological research and development capabilities is the top priority.4. Conclusion

In recent years, the smart projector that is small and portable and easy to store can bring an immersive giant screen experience, which has been enthusiastically sought after by more and more young people.Therefore, the intelligent projector industry once became the goal of many capital chasing.

But now, the competition in the intelligent projection market is becoming increasingly fierce, the internal rolls are continuously intensified and the penetration rate is still extremely low, which means that companies must work hard to consolidate their technical capabilities and exchange high -profits with good products.

Whoever can polish the products and serve users and continue to innovate and breakthrough, who is expected to stay on the brand table, and the battle for the living room of the young people has not yet been fixed.

*Zhang Wei in the article is a pseudonym; the title map in the article comes from visual China, based on the RF protocol.

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