Home Projector Market to Double In Next 4 Years, South and West Key for BenQ India: Rajeev Singh

India's home projector market is steadily gaining momentum, and BenQ - the leading name in the projector segment - has raised the bar once again with the launch of its two new flagship 4K models: the W5850 and W4100i. The W5850 is priced at Rs 7,00,000, and the W4100i will be available for Rs 4,00,000. Both projectors will be available through all leading Home AVSI partners across India starting May 2025 onwards. These both projectors are packed with BenQ's CinematicColor technology (100% DCI-P3) and HDR-PRO for outstanding color accuracy. Gadgets 360 had a word with Rajeev Singh, Managing Director of BenQ India & South Asia, on the emerging trends in the Indian market and overall company strategy. Few of the responses have been edited and shortened for ease of understanding.

How do you see the smart projector market growing in india over the next 5 years? And what will be your contribution to this growth in this?

In the market for smart projectors, there is only the home projector segment that is currently growing. The data projector and B2B projector markets are stagnant. However, the home projector segment is growing at a rapid rate. The reason behind is that people's pattern of consuming content has changed, and along with this, there have been major changes in projector technology as well. Earlier, there were many limitations to the use of projectors in the home, including the requirement of a dark big room, a white projection screen, short lamp life, and complicated installation. 

The traditional negatives of projectors that were there while using them at home are no longer there. Due to advances in technology, all these limitations have been overcome. Now the life cycle of the projector is also increasing a lot; it has become about 30 thousand hours. In such a situation, if you use the projector for even 5 hours daily, then your projector will last for 10 to 15 years.

Currently, most people, particularly high-net-worth individuals (HNI), prefer watching content at home rather than going to multiplexes. These people are spending money on making their home a multiplex.
We are the leading player in the projector market in India, and our overall market share is close to 50%. Our market share in the 4K projector segment stands at about 42-43%, and that in the portable projector segment at about 51%. We estimate that the home entertainment projector market will keep growing at a rate of 20-25% year-on-year. At this rate, the market could almost double in size over the next three to four years.

India is a price sensitive yet aspirational market for many players. How does BenQ plan to balance affordability with premium innovations here?

I believe that India is not a price-sensitive market, but a value-driven one. Indian customers prioritize value over just price. We are also a value-oriented brand, and the value we offer within our price range is the best in the market-which is why we are the market leader. Our products are not cheap, but the value we provide at our price points is unmatched by any other competing brand. When it comes to affordability, we offer a wide range of products that cater to different price points, ensuring that customers can choose according to the value they seek.

With the rise of 4K and laser projection, what's next in terms of image quality and performance? And how are you integrating AI into projectors?

The new feature you're seeing in picture quality is 100% DCI-P3, which is found in professional-grade cinema. We've implemented this 100% DCI-P3 in our new projectors, the W5850 and W4100i, so now you can enjoy professional-grade cinema color quality at home. A few years ago, it was impossible to experience such image quality and color at home, but we've made it possible.

BenQ W5850 (left) and W4100i (right)

The next big thing you'll see in commercial cinema is Rec. 2020. This is the new standard upgrade for commercial theaters. We launched the Laser TV Projector some time ago, which meets 95% of the Rec. 2020 standard.

As for AI in projectors, we've started integrating AI into our new projectors. You'll experience this in the W5850 and W4100i. AI takes your picture performance to the next level. Through AI, the projector automatically reads the lighting conditions and adjusts the image quality in real time, enhancing brightness and color according to the environment. Additionally, you can enjoy the AI Cinema Mode in our new projectors.

How is BenQ positioning itself in the Indian projector market compared to local and global competitors?

There is global competition in this segment, but we are proud to be the market leader and are performing very well. At our company, we believe in setting trends rather than following them. For example, with our W5850 and W4100i projectors, we introduced AI Cinema-bringing cutting-edge technology to the forefront. We always strive to be the first to deliver advanced innovations in the projector segment for our consumers.

Which region in India is the biggest market for BenQ in terms of projector, and where are you seeing the highest sales?

In India, we are seeing the highest demand for projectors from the South and West regions. There is clearly stronger demand in the South and West compared to the North and East. The main reason is that people in these regions are more passionate about movies and content. They enjoy watching content on the big screen. Mumbai, being the hub of Bollywood, is an important market for us. The size of homes in Mumbai may be relatively small, but the passion for cinema keeps that demand reasonable. In Andhra Pradesh and Telangana, people are very enthusiastic about movies, and with homes getting more spacious, we're seeing good demand from these areas as well.

Can a projector replace a TV in the future, and how do their life cycles differ?

Yes, this can happen, but it will be partial. It cannot be said that projectors will completely replace TVs in the future. For example, a home projector could replace a smart TV larger than 75 inches. The reason for this is that a TV is a direct light source, like a light bulb you're looking at. On the other hand, a projector relies on reflected light, which is much softer. Because of this, people who want to consume content on a larger screen are increasingly turning to projectors. As for the life cycle, it's almost comparable between the two.