Tuesday 16th August 2022

Holographic Display Market With Manufacturing Process and CAGR Forecast by 2027 – This Is

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Market Statsville Group (Part of Statsville Consulting Pvt. Ltd.)

The global holographic display market was valued at USD 2,695.9 million in 2020 to USD 14605.03 million by 2027, at a CAGR of 27.3% from 2021 to 2027. The holographic imaging market may witness a sharp increase over the next few years, especially in developed nations like the United States, with various industry players augmenting the regional demand, subject to extensive product applications in medical academia, medical imaging, and healthcare research. While the healthcare, media industries, and automotive drive the market for holographic displays, the applications across media and entertainment, education, residential (living rooms), and military mapping are expected to be catalysts for the market studied. Additionally, holographic displays are used in digital signages, billboards, point-of-sale terminals, kiosks, places, and events. The awareness regarding the use of holographic displays across all these applications may also significantly drive market growth.

The retail sector is significantly adopting digital signage solutions. The major and upcoming businesses opt for advanced digital signage featuring AI and machine learning to gain the most from consumer analytics. The industry is actively adopting digital technologies. Thus, they use digital holographic displays to improve customer engagement by attracting them by creating a memorable experience. For instance, Wondelez World Travel Retail (WTR) introduced augmented reality (AR) and holographic features to attract customers to their new permanent Toblerone store space at Dubai Duty-free in Dubai International Airport. WTR has installed a holographic display highlighting the different Toblerone Tiny flavors and depicts their journey from Switzerland, the home of Toblerone, all the way to Dubai. Introducing a new hologram display in Dubai International highlights the company’s long-term commitment to digital innovation.

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Additionally, Ardbeg, widely known for its smooth single malt spirits, chose Dreamoc XL3 display by Realfiction at the 2018 Whisky Festival. Multiple other instances in the market highlight the potential that this emerging technology has. For example, in November 2019, Voxon Photonics launched a USD 10,000 worth VX1 holographic display table. The VX1 table requires no headset or eyewear. The 3D printing of the image in the air breaks the 3D form into horizontal layer slices, and then it projects these slices onto a single piece of rear projection glass, which is flung back and forth in the air at 15 cycles per second on a set of harmonic resonance springs.

Global Holographic Display Market Dynamics

Drivers: Increasing Investments in 3D Technology

Multiple factors, such as the advancement in display technologies and the rapidly increasing need for 3D display technology in areas like the defense and medical sectors, coupled with the rising demand for 3D visualization in the entertainment industry for gaming and the emergence of 3D channels, are driving the market growth. Multiple vendors in the market invest in product innovation to expand their offerings and their functionalities. For example, psHolix, a Swiss company, invented and patented the Pseudo-Holographic Display Technology. With this technology, users can watch real 3D without glasses and view 2D content on the same device. Moreover, the company owns more than 57 patents worldwide, which has helped the company strengthen its position in the market.

Moreover, multiple government initiatives are also making it easier for players in the market to progress. For instance, the Chinese government primarily aims to push innovative display technological developments and earlier revealed a new regulation offering subsidies. The Guangzhou government published a notice, stating that to upgrade the display technology of the province, it will support organizations that invest in novel display technologies, including AMOLED, OLED, Mini/Micro LED, QLED, laser display, printing display, 3D display, holographic display, e-paper flexible display, and graphene display.

Challenges: High Cost of Assembling Holographic Display Devices

The high assembling costs related to the holographic display devices are a significant cause for concern as they act as a barrier for the entrance of new vendors and, therefore, the growth of the holographic display market. This high cost might prove more challenging to the small manufacturers who do not have high-tech manufacturing capability. Moreover, the high product prices, primarily due to the increasing assembly cost, might seem to be an expensive bargain for underdeveloped nations where consumers do not spend money on advanced devices. This is also anticipated to be a barrier to the growth of the market during the forecast period. The devices that can generate the same modulated light without the physical object present are actual 3 D displays, including technologies such as holography and light-field display. Modulation is needed to reproduce all of the object’s features with fine detail, which is very expensive. Holographic technology still faces an uphill struggle to demonstrate its value. A lot of the cost is around projection technology. These holograms are projection devices, and they require high-end projectors that are very bright and powerful to project high-quality content.

Scope of the Report

The study categorizes the holographic display market based on application, end user, and regions.

By Application Outlook (Sales, USD Million, 2017-2027)

  • Touchable Holographic
  • Semi-transparent/Electro Holographic
  • Pistons Holographic
  • Laser/Plasma Holographic

By End User Outlook (Sales, USD Million, 2017-2027)

  • Consumer Electronics
  • Retail
  • Media and Entertainment
  • Healthcare
  • Automotive
  • Other End-user Verticals

By Region Outlook (Sales, USD Million, 2017-2027)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The consumer electronics segment is accounted for the largest market share in 2020

Based on the end-user, the global holographic display market has been segmented into Consumer Electronics, Retail, Media and Entertainment, Healthcare, Automotive, and Other End-user Verticals. Consumer Electronics accounted for the largest market share in 2020. In the current market scenario, though operating in nascent stages, volumetric display technologies are witnessing surging consumer affinity, with AR and VR devices acting as catalysts for the consumer electronics segment’s demand. Moreover, the smartphone segment is expected to be an early adopter as cell phones can use holographic technology in several ways. First, holographic technology allows the projection of an image several times the size of the projecting device without a projection screen. Second, this technology can enable virtual keyboards or other input devices that are larger than the device. Mobile manufacturers are finding many potential applications of holographic data systems in the general area of interactions and imaging. For instance, In 2015, Lenovo launched a smartphone that doubles as a laser projector, as a concept phone. The Smart Cast features a built-in holographic projector that can cast images large enough to turn a wall into a movie screen.

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Asia Pacific accounts for the highest CAGR during the forecast period in the holographic display market

Based on region, the global holographic display market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific is growing with a higher growth rate of 29.5% during the forecast period 2021-2027. The Asia-Pacific holographic display market is analyzed across Japan, China, India, Australia, and the rest of Asia Pacific. These countries offer lucrative opportunities for players operating…

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