The global Volumetric Display Market is predicted to increase at a CAGR of 34% during the forecast period. A volumetric display would be a graphic display device that creates a three-dimensional visual depiction of an item instead of a flat image on typical screens that simulates depth using a variety of visual effects. 360-degree viewing, accommodation cues, agreement of converge, and their innate 3D format enable novel user interface methods are all features of volumetric displays.
The first volumetric display device was developed in 1912, and it has been developed until the 1980s before being marketed in the 1990s. Many industries, including medical, automotive, aerospace and defence, and industrial, are increasingly commercializing this technology. Technological improvements and innovation have resulted from consistent R&D operations.
The creation and dispersion of visible light from a set of localized and designated locations inside a three-dimensional space are possible with a volumetric display system. A volumetric system can sometimes allow for regulated anisotropic radiation propagation from each zone. It could be used to make a three-dimensional image more visible.
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.
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The global Volumetric Displays Market Share 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.
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.
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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