Loongton Innovision - Market Analysis - Business Plan Example

The report states that the global Pico projector market is expected to expand at a compound annual growth rate of 41.01% from last year to the year 2020. This report projects that the industry will have amassed revenues exceeding ten billion dollars by the year 2020. This projection is attractive for any rational investor and Longton Innovision hopes to share in this promising endeavor. The projector industry is also rife with opportunities considering the innovative trends exhibited by projector manufacturers who are developing suitable devices to counter competition from flat-screen TVs (Jiang et al., 2007). High Definition televisions or HDTVs are the main competitors for projectors in the image-projection industry.

Projector manufacturers have managed to capture and retain a significant portion of the image projection industry by developing convenient and appealing devices (Mentley, 1999). The latest projectors are compatible with almost all portable devices; they support wireless and internet connectivity. This industry continues to offer big-picture solutions coupled with high-quality images and affordable prices making it attractive for retail investment (Mentley, 1999).

Sustainable Competitive Advantage
The image projection industry has been dominated by television for many years; however recent innovative strides by projector manufacturers have split the market share for both technologies (Lawton, 2006).

The first competitive advantage in the projector market is innovation according to the Pico Projector Market report. MarketsandMarkets (2014) observes that projector manufacturers have continued to offer innovations in recent years making the technology relevant and competent. Recent innovations ensure that projectors can be wirelessly linked with almost any digital device to project images.

The other sustainable competitive advantage of the projector industry is that it offers a cheaper alternative for large images while enhancing the picture quality (Elliott et al., 2003; Mentley, 1999). The projector industry has achieved sustainable growth by poaching into the television market. The main advantage of projectors is that they are cheaper than HDTVs and also they require lesser space for home viewers than large HDTVs (Optoma Technology, Inc., 2011). Manufacturers have optimized this advantage by integrating all the features of HDTV in projectors including 3D, HDMI connectivity and LED for durability and energy conservancy.