The global volumetric display market is snowballing mainly due to its widening uptake in most of the burgeoning industries such as automotive, aerospace, and healthcare among others. These displays are also extensively used in the gaming and entertainment sector which is escalating the market of volumetric display on the global platform.
Acknowledging the impressive growth records the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global volumetric display market is expected to escalate to approximately 747 MN USD by 2023, registering a whopping 34 %CAGR during the assessment period (2017 – 2023).
Further, the volumetric display industry has recently shifted its focus to the energy-related sectors and is all poised to revolutionize sectors such as oil & gas, renewable energy, distributed energy, and power generation which, in turn, will allow the market to create a significant revenue pocket over the forecast period.
MRFR has segmented the analysis into five key dynamics for the scope of better understanding:-
By Display Types: Multi-Planar Volumetric, Static Volume Display (gas medium upconversion, solid state upconversion, laser plasma 3D in the air, layered LCD stack, others.), and Swept Volume Display (rotating flat screen, vari-focal mirror, rotating led array, others) among others.
By Components: Lens, Memory, and Screen among others.
By Applications: Design & Prototyping, Production & Management, Marketing, Data Visualization, and Training among others.
By End-Users: Education, Military & Defense, Healthcare, Aerospace, Automotive Industry, Gaming and Entertainment among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
Globally, North America leads Volumetric 3D Display Market with the lion’s share. Factors impacting the market growth positively include the increasing investments transpired into the technology and product development predominantly. Besides, the presence of market players with the ability to develop cutting-edge display technologies alongside increasing uptake of these displays in the healthcare sector drives the market growth in the region. Continuing with the same growth trends the region is expected to retain its dominance over the global volumetric display market throughout the review period.
The European region accounts for the second-largest market for the volumetric display, heading with the demand for this display from some of the burgeoning industries such as defense, healthcare, aerospace, and automotive among others. Certainly, the resurging economy in the region is contributing to the market growth, supporting the proliferation of healthcare sector.
The Asia Pacific region is rapidly emerging as one of the promising markets for volumetric display. The region is expected to witness healthy growth due to the rapid urbanization and expanding manufacturing sector led by the improving economy in the region. Wide uptake of volumetric displays in the proliferating healthcare, automotive and defense sectors fosters the growth in the regional market.
The volumetric display market is fiercely competitive owing to the various dynamic and diversified international players existing in the market forming a competitive landscape. Continually innovating market leaders seek market expansion through various strategic M&A activities and increasing investments in R&D activities strive to develop the portfolio for cost-effective solutions.
Vendors are improving their market performance and acquiring promising companies to expand in the rapidly growing markets. Because of immense revenue generation opportunities of the market new entrants are increasingly getting attracted only to find it further challenging to survive with the latest technologies.
Fervent players driving the market for the volumetric display include LightSpace Technologies Inc. (U.S.), 3D Icon Corporation (U.S.), Voxon (U.S.), Holografika Kft. (Hungary), Holoxica (U.K.), Burton Inc. (Japan), Seekway Technologies (China), LEIA Inc. (U.S.), Alioscopy (France), Soscho GmbH (Germany), Actuality Systems, Inc.(U.S), Burton Inc. (Japan), and Zebra Imaging (U.S.)
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