The global volumetric display market is estimated to reach USD 705.9 million, by the end of 2025, and is projected to grow at the CAGR of 28.5% over the forecast period, between 2019 and 2025, according to a new report by Million Insights. Several display attributes such as 360° angle view, aerial imaging, and auto stereoscopic abilities are projected to propel the demand for the product in the next few years.
These displays are widely used in different sector such as healthcare, media, aerospace, military & defense, and entertainment. Moreover, heavy investment on R & D activities by the players like Light space Technologies is projected to create ample opportunities for the market in next five years. The growing trend of visualization in the gaming experience is mainly encouraging manufacturers to develop innovative displays. In addition, the 5G network structure is also increasing the demand for the product. 5G connectivity offers improved video experience for users in video calling application.
Furthermore, the advancement in medical diagnosis with the development of 3D imaging technologies is anticipated to foster the product demand in the coming few years. These displays provide real-time images and visualization to support medical operations like surgeries. Volumetric displays are useful in defense activities such as surveillance in space, land, sea. It also offers training and simulation solutions with visual data. Thus, the rising spending by the government across China and the U.S. is anticipated to boost the growth of volumetric display market.
However, continuous advancement in technology is encouraging companies to develop innovative display products. Thus, various players focus on strategies such as collaboration, R & D investment, partnerships to expand their reach across the globe. For instance, Voxon Photonics is keen on increasing its production capabilities to meet the consumer needs.
In addition, companies are collaborating with investors to increase their funding for expanding its product portfolio and distribution network. Key manufacturers in the market include Voxon Photonics, Lightspace Technologies Inc., Holoxica Ltd, Coretec Group, Leia Inc., and Holografika Kft.
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Further key findings from the report suggest:
• Static volume display type segment held the largest market share in 2018, due to the features like 360 degree view, aerial view, and depth cues based on motion.
• Swept volumetric displays category is estimated to grow at a significant CAGR over the forecasted period, from 2019 to 2025.
• Based on end use, medical segment is attributed to USD 50 million in 2018. This growth is constituted by growing adoption of 3D imaging applications.
• North America region is projected to propel at highest CAGR of over 30.0% from 2019 to 2025.
• Manufacturers are also strategically focus on developing innovative display products using advanced technologies to maintain their position in the market.
Million Insights has segmented the volumetric display market based on display type, end use, and region:
Volumetric Display Type Outlook (Revenue, USD Million, 2015 - 2025)
• Static Volume Display
• Swept Volume Display
Volumetric Display End Use Outlook (Revenue, USD Million, 2015 - 2025)
• Aerospace & Defense
• Media, Communication, & Entertainment
• Education & Training
• Others (Oil & Gas, Mining, etc.)
Volumetric Display Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• South Korea
• Rest of the World