This State‐of‐the‐Art‐Report covers the recent advances in research fields related to projection mapping applications. We summarize the novel enhancements to simplify the 3D geometric calibration task, which can now be reliably carried out either interactively or automatically using self‐calibration methods. Furthermore, improvements regarding radiometric calibration and compensation as well as the neutralization of global illumination effects are summarized. We then introduce computational display approaches to overcome technical limitations of current projection hardware in terms of dynamic range, refresh rate, spatial resolution, depth‐of‐field, view dependency, and color space. These technologies contribute towards creating new application domains related to projection‐based spatial augmentations. We summarize these emerging applications, and discuss new directions for industries.