Volumetric Display Industry Overview
The global volumetric display market size is expected to reach USD 1.05 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 25.8% from 2021 to 2028. Several in-built features such as visualization of holographic aerial images in free space, 360-degree spherical viewing angle, autostereoscopic capabilities, and motion-based depth cues are likely to drive the market over the forecast period.
Volumetric displays are widely preferred across several industries such as military and defense, healthcare, media, communication, entertainment, and aerospace owing to their built-in features. Massive investments in R&D by prominent market players such as LightSpace Technologies Inc. are estimated to create a significant opportunity for players to gain a substantial market share over the coming years. Moreover, these investments are majorly focused on improving overall in-built features of volumetric displays, which will cater to growing consumer demand for enhanced visual experiences during gaming and other applications. Robust deployment of 5G network infrastructure is further anticipated to spur the adoption of volumetric displays to provide seamless connectivity and enhanced experience to customers during video calls.
Volumetric Display Market Segmentation
Grand View Research has segmented the global volumetric display market based on display type, end use, and region:
Based on the Display Type Insights, the market is segmented into Static-volume display, and Swept-volume display.
- The static-volume segment held the largest market share of more than 50.0% in 2020 and is anticipated to expand at a significant CAGR over the forecast period. Static volumetric displays are highly preferred among customers due to their ease of availability in various categories.
- The swept volume segment is expected to exhibit a CAGR of 27.1% from 2021 to 2028. The growth is attributed to the significant focus on developing advanced swept volume displays by prominent market players globally.
Based on the End-use Insights, the market is segmented into Medical, Aerospace & Defense, Automotive, Media, Communication, & Entertainment, Education & Training, and Others (Oil & Gas, Mining, etc.).
- The medical segment captured over 37.6% share in the global market and is expected to expand at the highest CAGR among the end-use segments from 2021 to 2028.
- The volumetric display has gained momentum in the field of medical imaging applications owing to its significant use during surgeries.
- Moreover, volumetric displays deliver a remarkable visual impact during product advertisement and media marketing of a product by engaging customers for a long time.
- With the emergence of 5G technology, the media, communication, and entertainment industry is also expected to witness remarkable growth in the coming years due to significant demand for the product for video calling and virtual meeting purposes.
Volumetric Display Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of the World
Key Companies Profile & Market Share Insights
Industry players have been focusing on organic growth strategies such as R&D investments, collaborations, and value-added features to expand their overall product portfolios and gain a larger share in the market. For instance, in November 2018, Voxon Photonics tested a successful video call on volumetric display by using a 5G network at the Mobile World Congress Americas in Los Angeles. This strategy is aimed at helping Voxon Photonics enhance its product sales across the globe after the commercialization of 5G services in 2020.
Moreover, the market is presently at its infancy, which allows existing players to fortify their market presence while presenting an opportunity for new entrants to foray into the industry. Additionally, key players are focusing on establishing partnerships and agreements with investors to raise funding to expand their market presence. For instance, in Dec 2018, LightSpace Technologies raised USD 5.5 million from ASHansaMatrix, backed by the European Investment Bank (EIB). The major purpose of the investment is to support R&D activities of real-time volumetric display technology, along with the development of industrialization and fabrication process of photonics elements.
Some of the prominent players operating in the global volumetric display market are:
- Lightspace Technologies Inc.
- Voxon Photonics Pty Ltd.
- The Coretec Group Inc.
- Holoxica Ltd.
- Alioscopy
- Leia, Inc
- Looking Glass Factory, Inc.
- SeeReal Technologies GmbH
- The Coretec Group, Inc.
Order a free sample PDF of the Volumetric Display Market Intelligence Study, published by Grand View Research.
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