28-May-2021 | Facts and Factors
According to Facts and Factors, the global volumetric display market was valued at about USD 311.2 million in 2020 and is predicted to create revenue of about USD 1,534.9 million by the end of 2026, with a CAGR of about 30.4% between 2021 and 2026.
A volumetric display creates a three-dimensional visual symbol of a thing. It generates 3D imagery by emitting, transmitting or scattering, light from well-defined areas of space. The light from a volumetric display may diverge over large angles rather than covering a small aperture. With the help of isotropic light emission, volumetric image points can be perceived from any direction.
A volumetric display is a display device that creates a three-dimensional visual picture of an item, as opposed to a planar copy on old-style screens that simulates depth over a variety of visual effects. Volumetric displays have unique properties such as 360-degree seeing, agreement of converging as well as accommodation cues, and their inherent 3D format, which enables new customer interface systems. A volumetric display device was first developed in 1912, and it was commercialized in 1990 after being in development since the 1980s.
Top Market Players
Major players operative in the global volumetric display market is Holoxica Ltd., 3DIcon Corporation, Voxon, Holoxica, Burton Inc., SeeReal Technologies S.A, LEIA Inc., Lightspace Technologies Inc., Holografika Kft., Zebra Imaging, Seekway Technologies, Alioscopy , Soscho GmbH, The Coretec Group Inc. and Voxon Photonics Pty Ltd., amongst others.
Continued innovation and technological advancements in 3D display technologies to deliver enhanced resolutions and features are expected to drive volumetric display market growth over the forecast period. Continuous advances in lasers, optics, and electronics have resulted in the emergence of volumetric displays, which allow multiple viewers to look at the image at the same time from different perspectives without the use of special eyewear. Demand for this technology is increasing in the defense industry in developed countries such as the United States, the United Kingdom, and Japan, owing to its widespread use in raising awareness in education and battlefield monitoring applications. These countries' governments are heavily investing in advanced technologies in order to strengthen their defense capabilities. For example, the United States government has proposed a defense budget of nearly USD 738.0 Million for 2020, a 3.0 percent increase over 2019. As a result, significant growth in defense budgets across key countries is expected to drive demand over the forecast period. Consumers all over the world are shifting away from traditional 3D displays and toward volumetric 3D displays. This shift is due to the latter's inherent advanced features, such as holographic aerial image visualization in free space, autostereoscopic capabilities, 360° spherical viewing angle, and motion-based depth cues. Volumetric displays offer higher resolution, a better user viewing experience through a variety of visual effects, and real-time 3D experience, which is expected to drive market growth over the forecast period. Another factor driving the volumetric display market is the increased adoption of volumetric displays in various applications such as patient surgery, research and development, and media marketing by several industries such as military and defense, aerospace, healthcare, and media and entertainment.
The medical segment accounted for more than 31.4 percent of the global volumetric display market in 2020 and is expected to grow at the fastest CAGR among end-user segments from 2021 to 2026. Because of its importance during surgeries, the volumetric display has gained traction in the field of medical imaging applications. It provides a one-of-a-kind hyper-realistic experience for visualizing medical images during surgeries. Furthermore, it creates a 3D image from stored MRI data in the systems and allows doctors to view a part of the anatomy from any angle using zooming features.
North America Lead the Global Volumetric Display Market Growth
The North American volumetric display market had a market share of more than 41.8 percent in the global market in 2020 and is expected to grow at a CAGR of 30.4 percent during the forecast period. The rapid adoption of 3D volumetric displays in the oil and gas industry for real-time visualization of 3D fluid flow is a major factor driving volumetric display market growth. The growing use of new technologies in healthcare, such as autostereoscopic displays, is driving up the demand for volumetric displays for medical imaging applications. Furthermore, a rapid increase in defense spending in the United States to deploy advanced technologies for military simulation and training applications is expected to boost the North American volumetric display market during the forecast period.
The Asia Pacific volumetric display market is expected to grow significantly during the forecast period. This is due to shifting consumer preferences in countries such as Japan, China, and Australia toward high-tech gaming. Furthermore, due to significant Foreign Direct Investment (FDI) in the region, the rapidly growing consumer electronics industry is expected to increase production and adoption of volumetric displays. Furthermore, due to mass manufacturing facilities and low production costs, countries such as China and Japan are expected to capture a significant market share.
Browse the full report “Volumetric Display Market by Component (Motor & Position Sensor, Projector, Mirror, Rendering Software, and Rendering Electronics) By Technology (Digital Light Processing (DLP) and Liquid Crystal on Silicon (LCOS)), By Display Type (Swept, Static and Multi-Planar), By Application (Medical, Aerospace & Defense, Automotive, Oil & Gas, Education and Entertainment) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/volumetric-display-market
The global volumetric display market is segmented as follows:
By Display Type:
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