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[Home Secret]In recent years, smart projectors have gained momentum, and more and more application scenarios have emerged in home, education, office, camping, online classes, etc. It seems that these will become an important force in leveraging the smart projection market.
However, entering 2023, the development of the smart projection industry has gone downhill. According to data from RUNTO, mainland China's projector market shipments in the first half of 2023 were 3.401 million units, a year-on-year decrease of 7.5%. It also predicts that China's smart projector sales will fall back to less than 6 million units in 2023. , the decline in market size is basically a foregone conclusion.
Smart projection enters fierce knockout competition
In fact, the smart projection war has gone through many years. After 2020, the industry ushered in a stage of rapid development. According to data from Luotu Technology, China’s smart projector (excluding laser TV) market will continue to grow from 2020 to 2022. Three years of growth, of which sales in 2022 will be 6.178 million units, a year-on-year increase of 28.6%; sales will be 12.53 billion yuan, a year-on-year increase of 7.9%.
The hot market has also intensified competition in the industry. Not only are established players such as Nut, Epson, and Jimi restraining each other, but also rising stars such as Xiaomi, Vidda, and Kukai have emerged. The market structure has also changed again and again, but this seems to be hot. The development of the market has actually begun to slow down. The house secretary believes that there are two reasons behind this:
First, product homogeneity is serious.First of all, there is not much technological difference between projectors at present. Regardless of DLP projection or LCD projection, the homogeneity is relatively serious. Secondly, in the previous market, most of the products were based on LED light sources. At the same time, the products were mostly square in appearance design. “Boxes” are the main focus, the light source technology is consistent, and the industrial design is similar, which makes it difficult to distinguish the projection products in the hands of users, leading to serious product homogeneity.
Second, product quality varies.Smart projection has developed rapidly in the past few years, but as the early adopter sentiment subsides, users no longer just use a large-screen provider as their starting point when purchasing smart projection products, but hope that the product will incorporate more intelligent and personalized functions. , thereby providing yourself with a more personalized experience. However, due to the previous boom in the market, many players have entered the industry. According to Tianyancha data, there are currently nearly 10,000 projector-related companies. This has also led to the fact that many products on the market have not yet met this demand, resulting in a gap between consumers' expectations for new products and actual products.
In the past few years, outdoor camping has become a new trend, and projectors have successfully moved out of living rooms and bedrooms due to their compactness and portability. However, in 2023, camping is declining at a speed visible to the naked eye. This also means that the new demand for smart projection has not yet been implemented, and the demand itself has quietly disappeared. This has also made users resist the smart projectors that are highly homogeneous and have harsh usage conditions. According to a previous survey by Sina Technology, nearly 40% of netizens believe that buying smart projectors is useless.
As the development of China's smart projection market slows down and new demands such as camping gradually shrink, how should each manufacturer achieve a breakthrough in such an environment when competition becomes increasingly fierce?
Breakout keywords: quality, differentiation
Returning to the brand itself, how should the path of quality development and differentiated competition proceed? An example for reference is the nut projection. Nut Projection will focus on lasers and achieve differentiated competition through the improvement of core dimensions such as light sources, display technology, and optical mechanics. Such improvement is not a self-proclaimed slogan, but is achieved through a series of standard establishment and product innovation.
For example, from the product side, Nuts takes laser as the starting point in terms of light source, and has established in-depth cooperation with laser supplier Nichia Chemical. Through the joint development of MALC krypton three-color laser optical machine, both parties have jointly developed it. The advantage of this is that not only can product quality be more proactively controlled, but the product can have all-round advantages over previous non-laser products in terms of brightness, contrast, color gamut and color accuracy.
It has also adopted technological innovations to make laser projection products better in quality and cheaper. By cooperating with core device companies, we can achieve penetration and control of the supply chain from R&D to production, making Nut Projection more independent and controllable in terms of product image quality, production costs and other aspects.
It is also the unremitting exploration of light source technology that allows Nut Projection to successfully shape the consumer perception of choosing laser as a projection product and viewing Nuts with laser projection.
In addition to display technology, JMGO is also at the forefront of the industry in terms of product form optimization. The most notable one is the built-in gimbal. This design greatly improves the flexibility of the projector. First of all, the existence of the pan/tilt makes projection products independent of scenes during use. For example, some products in the past required a flat platform or bracket to be used together. After the introduction of the gimbal design, the use scenarios have also been extended, such as camping and family gatherings. The lightweight body will not be a burden to carry around, and the built-in gimbal eliminates the need for users to carry a separate stand.
Of course, “ease of use is king.” From product quality improvement, innovative development, to manufacturing process improvements, Nuts have achieved leapfrog growth as a brand through all-round capability improvements.
The actual results of these actions have also been confirmed by sets of figures: In the first half of 2023, according to data from Luotu Technology, Nut Projection ranked first in the medium and long-focus laser projection market; during the “618” period in 2023, Nut Projector ranked first in the market. Projection has achieved sales of over 300 million across the entire network, ranking among the top 2 in the projection category. Many of its products have been on the best-selling list of e-commerce platforms; during Double Eleven in 2023, Nuts achieved many leaps and bounds. Breakthrough, JMGO N1S Pro has become the star product of the TOP 1 4K projector in the entire network, the TOP 1 laser projector in the entire network, the TOP 1 projector brand in JD.com, the TOP 1 portable projector in Tmall, and the sales of both Tmall and JD.com exceeded 100 million, and even more The entire network exceeded 300 million and achieved impressive growth despite the trend.
From roll marketing, to roll channels, to roll quality, and the richness of roll products, Nut Projection, as a leading company, has gradually pushed up the industry threshold in the form of demonstration and leadership, but the core purpose is not to compete within the wall, but to cross the cake. Make it bigger. Because only when more and more people recognize and need smart projection, and the industry can provide products and quality that match their needs, can the industry ultimately prosper.
As for industry players, it is not difficult to understand how to continue in the industry that they are competing to join. It is not difficult to understand through the success of Nuts.
First of all, using technologies such as projection and light sources to differentiate itself from other brands is also an important way for projection brands to differentiate themselves. Shaping the brand image through technology and making it synonymous with new lifestyles can effectively increase user stickiness and drive Consumption; secondly, product quality is the baseline for corporate survival, and brands need to formulate strict production standards and product quality standards, especially in terms of brightness and other parameters, not to exaggerate or falsely advertise; finally, to develop differentiated products for different users , accurately reaching consumer groups; in addition, optimizing the industrial chain, expanding the supply chain effect, deploying online and offline omni-channels, improving user service experience, scenario concept marketing, and enhancing product attractiveness are also the keys to breakthrough.
2023 will also be a new development opportunity for the smart projection industry. Behind various trends, it not only includes changes in the market environment, but also reflects new trends in consumer demand. Only by following market changes and actively responding to consumer demands like Nut Projection can we go further in a market environment full of variables. .
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