Collaborative Decision-making to Accelerate Demand in Global Volumetric Display Market
The global volumetric display market is set to exhibit 34% from 2017 to 2023. It can reach a value of USD 747 million by 2023. Volumetric displays are able to show objects and people in 3D. They can be seen in all directions by manipulating light isotropically. MRFR’s report on the Volumetric Display Market covers trends and niches for upcoming screens over the forecast period (2020-2027). The COVID-19 outbreak and its impacts on the industry are explored in high detail.
The global volumetric display market is driven by use of 3D images in consumer electronic devices. Improvements in virtual image formulation, view angle, occlusion, and accommodation can favor the market growth. Adoption of LED and LCD display screens to project the display can bode well for the market. This is exemplified by the success of LightSpace DepthCube and Perspecta Display.
Use of volumetric displays for hosting 3D movies can revive interest among customers and commercialize the market. Developments in optics, lasers, and electronics coupled with interest among clients in Japan, the U.K., and the U.S. can drive market demand significantly. Volumetric displays can be used for monitoring battlefields and create awareness in schools through new visual aids. Changing preference among customers and need to gain a 360 degree experience due to visualization of holographic images can bolster market demand significantly.
But high prices of volumetric displays and insufficient returns for market players can restrain market growth.
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Alioscopy, Burton Inc., Zebra Imaging, 3DIcon Corporation, Voxon, Soscho GmbH, Holografika Kft., Burton Inc., Holoxica, LEIA Inc., Seekway Technologies, LightSpace Technologies Inc., and Actuality Systems, Inc. are key players of the volumetric display market. Mergers and acquisitions are a strategy pursued by companies to gain first mover advantage as the battle for screens becomes intense.
COVID-19 Impact Analysis
The COVID-19 pandemic had an unfavorable impact on the volumetric display market owing to disruptions in supply chains and waning interest among manufacturers. Slow consumer spending and restrictions placed on international trade can hamper market growth.
By display type, the market is segmented into rotating, multi-planar volumetric, static volume display, oscillating, swept volume display, and others. The static volume display segment is set to capture a significant market share due to their easy availability. On the other hand, the swept volume display can show a remarkable growth rate due to use of rotating or reflective screens to enhance the image.
By components, it is segmented into memory, lens, screen, and others.
Major applications of the market comprise training, design and prototyping, data visualization, production and management, marketing, and others. The marketing application can capture a major market share owing to utilization of 3D displays in launch of various products.
By end-users, it is segmented into automotive industry, gaming and entertainment, education, military & defense, healthcare, aerospace, and others. The healthcare segment is poised to be highly lucrative for the volumetric display market owing to realistic display of images during surgeries. Its use as a learning aid to create better personnel can lead to heavy demand from the sector.
The Americas, Europe, Asia-Pacific, and Rest-of-the-World (RoW) are major regions covered in the volumetric display market.
North America is expected to lead the global market demand owing to technological breakthroughs in volumetric displays and want of 3D resolution images in healthcare, industrial, and defense sectors. Efforts to lower product costs and product flexibility in applications can drive regional market growth.
The Asia-Pacific market can expand owing to penchant for 3D games in Japan, India, and China. Rise of foreign direct investments in the consumer electronics sector can bolster market demand due to low cost of production.
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LED Pulse uses strings of LED lights to provide volumetric displays of products. The technology named Dragon O has been used in events successfully to grab customer attention and create an impact of the product.
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