“Our Aim Is To Expand Our Market Share In The ProAV And Education Sectors”

“Our Aim Is To Expand Our Market Share In The ProAV And Education Sectors”

Optoma has one of the largest portfolio of reliable and high-quality products that resonate well with Indian customers. Its strong marketing strategies have yielded satisfying results that reflect in its market share. Vijay Sharma, Country Head of Optoma talked exclusively to DT and shared insights into the company’s performance and aggressive future roadmap.

DT: How did Optoma perform in the CY 2023?

Vijay: Last year witnessed robust sales of projectors and IFP in India, with Optoma emerging as the leading brand in the 4K UHD projector category worldwide. In the Indian market specifically, Optoma successfully maintained its dominant position across various segments including 4K UHD, laser projectors, and laser TV projectors. Thanks to its exceptional performance in the home projector divisions, Optoma secured a significant market share in these segments.

Optoma experienced an increase in its market share specifically in the 4K UHD category. According to Pacific Media Associates (PMA), Optoma has a 49% market share in the 4K UHD segment, a 43% market share in the laser projector segment, and a 60% market share in the laser TV projector segment. Furthermore, recent surveys indicate that Optoma ranks among the top three brands in the global projector market.

DT: What are your expectations in terms of business performance and market sentiments in 2024?

Vijay: As we embark on 2024, our objective is to secure the leading position in key categories: home entertainment, professional audiovisual (pro-AV), and the education sector for projectors and Interactive Flat Panel business. Building upon the triumph of introducing a comprehensive range of mainstream laser projectors, our aim is to expand our market share in the ProAV and Education sectors. 

By the end of 2024, our goal is to increase sales by more than 2.5 times surpassing the previous year’s. Additionally, as consumers increasingly prioritize sustainability and social responsibility in their purchasing decisions, we aim to showcase environmental consciousness across our manufacturing processes, product design, and corporate practices. This approach may appeal to environmentally-conscious consumers and further strengthen our brand reputation.

DT: Could you please tell about two major tech trends that will dominate in 2024?

Vijay: Optoma consistently introduces modern products to meet the diverse demands of the market. Undoubtedly, technology is rapidly advancing within educational and home settings. Teachers and students require access to novel and enhanced methods for presenting content and engaging with pupils. Home buyers have become far more demanding as far as advancement in content and resolution are concerned. Laser with 4K resolution is a go-to projection technology.

AI and automation technologies are poised to significantly impact the pro-AV industry in 2024. AI-powered solutions can streamline processes, improve efficiency, and enhance the quality of audiovisual content and experiences. We anticipate a surge in demand for AI-enabled IFP panels starting from the second half of the year. As a renowned provider of cutting-edge products, we are preparing to launch our own high-tech IFP panels in the near future.

DT: What is your current channel strength and how are you planning to strengthen your partner network in 2024?

Vijay: Optoma extends its sincere gratitude to its channel partners for their invaluable contributions to the company's growth in India. We express our heartfelt appreciation to our partners and dealers who have demonstrated an amazing dedication during challenging times. We are committed to supporting our partners by providing just margins and transparent eco system to ensure profitability while maintaining competitive price points.

We have meticulously structured our partner programs to maximize the profitability of our associates without compromising on pricing. We encourage them to craft compelling offers for customers and provide a seamless shopping experience. I strongly recommend that our partners go the extra mile and leverage available resources to establish meaningful connections with customers, ultimately enhancing sales performance.

𝐒𝐭𝐚𝐲 𝐢𝐧𝐟𝐨𝐫𝐦𝐞𝐝 𝐰𝐢𝐭𝐡 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐛𝐲 𝐣𝐨𝐢𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 WhatsApp Channel now! 👈📲

𝑭𝒐𝒍𝒍𝒐𝒘 𝑶𝒖𝒓 𝑺𝒐𝒄𝒊𝒂𝒍 𝑴𝒆𝒅𝒊𝒂 𝑷𝒂𝒈𝒆𝐬 👉 FacebookLinkedInTwitterInstagram

Related Stories

No stories found.