Lamp projectors have a giant light bulb to project images on the screen. They are more affordable than laser models. You can also restore a lamp projector's full brightness by simply replacing its lamp. While it's easy to maintain, a lamp projector requires frequent maintenance. Bulb replacements are a bit costly as well.
Laser projectors have LED lights to be able to project images. These produce brighter, sharper images and don't require heating up – something that lamp projectors need. They also have greater contrasts. However, the upfront cost is far more expensive. Replacing a broken light engine is also pricey.