Volumetric Display Market to achieve 34% during Forecast Period 2018-2023,Volumetric Display Market to obtain USD 747 MN Revenue forecast period 2018-2023|Volumetric Display Industry – News and Updates
Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Volumetric Display Market Research Report.
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.
In the healthcare sector, volumetric displays are used for medical imaging applications such as X-ray, CT scan, and MRI Scan among others. The emergence of the 3D technologies with 360-degree spherical viewing angle is fostering the market growth of volumetric display to an extent. Also, the adoption of these displays in the production of consumer electronics such as 3-D displaying on phones, tablets, laptops, and others along with the market proliferation of smartphones and wearable devices is fuelling the market growth.
The volumetric display allows the real-time visualization of 3-D fluid flow, and in security applications are propelling the market growth, allowing the market to gain momentum in the coming years. The integration of LED and LCD technology in the volumetric display is contributing to the high growth of the market.
On the other hand, the cost of the volumetric display which is slightly on a higher side is impeding the market growth globally. However, the technological advancements awaited in the years to come are likely to present some cost-effective solutions which will support the market growth, presaging heydays the market is about to witness soon.
Additional factors substantiating the market growth include rapid industrialization, urbanization, and the improving economy worldwide which is improving consumer’s purchasing power. Also, significant investments made by the manufacturers to bring more innovations in these displays are paying off well, fostering the market growth.
Volumetric Display Market – Segments
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.
Global Volumetric Display Market – Regional Analysis
Globally, North America leads the volumetric 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.
Volumetric Display Market – Competitive Analysis
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.).
Industry/ Innovation/ Related News
September 11, 2018 – Voxon Photonics (Australia), a leading global manufacturer of the advanced 3D volumetric display presented the world’s first 3D holographic medical data at Mobile World Congress Americas, conducting the world’s first-ever, real-time video conference the company, using an Intel RealSense depth camera demonstrated the caller’s holographic face appears on the display. And, how call participants are then able to collaborate around the holographic medical images they were, viewing, manipulating and viewing the images from every direction.