The use of digital holography technology in numerous sectors is accounted be one of the significant trends in the global holographic market by 2023. The digital holography technology is being primarily used in the healthcare, advertising, financial, and education sectors. Therefore, this technology is expected to be extensively featured in industries such as automotive, gaming, retail, and aerospace and defense and is set to boom the market tremendously in the years to come. This report has been published by Market Research Future and states that the global digital holography market is probably to reach approximately USD 7.5 billion by the end of 2023 with 37% CAGR during the forecast period 2017-2023.
Digital holography is likely to become a leading technology among the imminent 3D technologies. The cumulative demand for advanced holographic displays and microscopes is playing a vital role in the growth of this market. Few factors such as realistic 3D visualization, high accuracy, coordinates, and depth measurements, and life-sized presence would lift the demand for digital holography applications in industries such as aerospace & defense, automotive, medical, consumer, and commercial sectors.
Drivers & Trends
Global Digital Holography Market is proliferating owing to increased demand for 3D technologies, which is likely to be one of the crucial factors that would drive the need for the digital holography. Also, the adaptability of this technology in various domains has increased the potential to develop more of the market in the coming years. By such importance of it, the application of digital holography in the retail sector is one of the key domains that are increasing the demand for this market.
Other factors contributing to the growth of the digital holography market are accounted to be swelling demand for digital holography for medical imaging in the pharmaceutical industry. Here, the holography is used for effective diagnosis, which helps to get the most exceptional results. Also, the growing use of digital holography in the financial sector for security purposes and coupled with increased demand for holographic displays in events and advertisements is also demanding the market to proliferate.
The uprising in various holographic technologies with the introduction of digital holography is also simultaneously helping the market to cultivate exponentially. However, some of the factors such as computational cost and low resolution of CCD cameras are somehow hindering the growth of the digital holography market. However, over this concern, several investments are being made and are increasing in the digital holography market which are growing opportunities to come in the retail industry. This is likely to boost the growth of the digital holography market over the forecast period by 2023.
Market Research Future Reports has segmented the digital holography market into component, application, end-users, and region.
By the mode of component, this segment includes hardware and software.
By the mode of application, this segment includes microscopy, holographic display, holographic television, holographic telepresence, and others.
By the mode of end-users, this segment includes medical, automobile, consumer, datacenter, aerospace, defense, commercial and others.
The geographical analysis of digital holography market is studied under the regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among them, North America has accounted for the largest market share mainly from countries such as the U.S. and Canada among others. The growth is attributed to the mounting demand for high-end technology solutions, increasing research & development that are happening in this region. Also, the increasing usage of holographic technologies in the retail and healthcare sector is growing year by years. However, Asia Pacific is anticipated to expand over the forecast period, 2017-2023 which is attributed to the existence of key manufacturers and the increasing growth of consumer electronics & automotive industries.
The key players in the global digital holography market include- Lyncee Tec SA (Switzerland), Eon Reality, Inc. (U.S.), Holoxica Ltd. (U.K.), LEIA Inc. (U.S.), Jasper Display Corporation (Taiwan), Ovizio Imaging Systems NV/SA (Belgium), Light Logics Holography and Optics Pvt Ltd.(India), RealView Imaging Ltd. (Israel), Geola Digital Lab. (Lithuania) and Zebra Imaging Inc. (U.S.) among others.
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