DUBLIN, Dec. 11, 2020 /PRNewswire/ — The “Global 3D Holographic Display and Services Market: Focus on Product, Application, Industry, Business Models, Patents, Funding, Technology, Impact of COVID-19 – Analysis and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
The global 3D holographic display and services market is projected to grow from $607.6 million in 2020 to $1,837.1 million by 2025, at a CAGR of 24.8%. The growth in the 3D holographic display and services market is expected to be driven by the continuous efforts to modernize the advertisement and media industry. Additionally, the growth of the retail industry is further pushing the demand for more advanced technologies in marketing and merchandising strategies.
Moreover, Industry 4.0 technologies such as computer vision and digital twin are display-dependent technologies which are creating more market opportunities. The idea to enable display devices with AR and holographic capabilities will enhance the operability and efficiency for computer vision, digital twin, and any related display dependent technology. Hence, this can be obtained with 3D holographic display systems in place, thereby expecting its significant growth during the forecast period 2020-2025.
The 3D holographic display and services technology has gained adoption in various business industries such as retail, media & advertisement, exhibition industry, automotive, medical & healthcare, defense & aerospace and aviation, consumer electronics, either to add value or increase operational productivity. The commercial industries, such as retail, media & advertisement, and exhibition industry, have very high consumer interaction. 3D holographic displays are well-equipped with features to enhance the overall experience of the consumers. This has the potential to increase consumer engagement and change customer behavior, and ultimately increase brand awareness and reach.
The automotive industry is moving toward producing completely autonomous vehicles. However, the industry needs to start implementing the existing technologies to increase the autonomy of currently available vehicles. Heads-up-displays enabled with AR holographic capabilities shall enhance vehicle autonomy and decrease the risks of potential accidents, as drivers do not have to look away from the usual viewpoint. These products are being deployed either as a stand-alone unit or being integrated along with the vehicle during production. Either way, heads-up-displays are going to disrupt the whole automotive industry and will further add to the 3D holographic display market.
The healthcare industry is one of the crucial and essential industries supporting the economy as well as sustaining human life. Medical imaging application associated with the healthcare industry is a highly sought-after application for a 3D holographic display. 3D holographic displays can display 3D holographic content, which allows visualizing human anatomy at a 3D level, which can be viewed from various angles, allowing practitioners and users to point the exact location for any disease or problem in real-time. The 2D options require to compile pictures from various angles. This application is expected to have a significant impact on the 3D holographic display market.
Impact of COVID-19 on Global 3D Holographic Display and Services Market
The 3D holographic display and services market is expected to experience continuous growth, owing to the increasing demand from retail and commercial industries. However, in 2020, the 3D holographic display and services market is expected to experience downfall due to the COVID-19 pandemic, as the assembling and the installation of the 3D holographic display have been reduced. The current period has affected the supply chain and logistics, which has indirectly affected the demand for 3D holographic displays.
The lockdown procedures additionally have reduced the number of people going to retail stores, and thus any effort to customer engagement has reduced. Thus, retailers are currently only focusing on replenishing stocks and maintaining sales. With the lockdown being imposed in most parts of the world during the first two quarters of 2020, there has been a scarcity of resources worldwide in terms of availability of skilled workforce and the supply of hardware equipment for manufacturing, which is expected to impact the global 3D holographic display and services market for this particular year. The growth of the 3D holographic display and services market is expected to revive sparsely in Q4 2020 once the operational activities become normal post lockdown.
The partnership and collaboration strategy has been significantly employed for expansion by key players in the 3D holographic display and services market. With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies to sustain in the highly competitive market. In February 2020, Realfiction entered into an agreement with EDEKA that will open for testing the magic-as-a-service offering in 25 EDEKA stores in the Niedersachsen and Nordrhein-Westfalen regions in Germany. Similarly, in March 2020, HYPERVSN and KNM Eesti partnered to transform advertising in the Baltic States and increase the market for spinning LEDs in advertisement, retail, and promotions.
Key Questions Answered in this Report:
- What is the expected global 3D holographic display and services market size in terms of value and volume during the forecast period, 2019-2025?
- What is the expected future scenario and revenue generated by the different product types, different applications, and different end-use industries, business models and services?
- What is the expected future scenario and revenue generated by different product types?
- What is the expected future scenario and revenue generated by the application segments for which 3D holographic display and services are offered, including retail, trade shows & conferences, digital signage, navigation, and medical imaging others?
- Which region is the largest market for the global 3D holographic display and services market?
- What is the expected future scenario and the revenue generated by different regions and countries in the 3D holographic display and services market, such as North America, Europe, Asia-Pacific & Japan, China, U.K., South America, and Middles-East and Africa?
- What is the competitive strength of the key players in the 3D holographic display and services market on the basis of the analysis of their recent developments, product offerings, and regional presence?
- Where do the key 3D holographic display and services companies lie in their competitive benchmarking compared to the factors of market coverage and market potential?
- How are the adoption scenario, related opportunities, and challenges impacting the 3D holographic display and services markets?
- What will be the impact of COVID-19 on the market size, market forecast, CAGR, and market dynamics of the global 3D holographic display and services market across different market segmentations?
- How is the funding and investment landscape in the global 3D holographic display and services market?
- Which are the leading consortiums and associations in the global 3D holographic display, and services market, and what is their role in the market?
- What are the market dynamics of the global 3D holographic display and services market and what is their role in the market, including market drivers, restraints, and opportunities?
- What is the SWOT Analysis for leading companies in the 3D holographic display and services market?
Key Topics Covered:
1 Market Overview
2 Market Dynamics
2.2 Impact Analysis
2.3 Market Drivers
2.3.1 Increased Demand for 3D Holographic Displays in Creative Economy
2.3.2 Growing Adoption of Medical Imaging in the Healthcare Industry
2.3.3 Rising Industrial Automation with Industry 4.0 Applications
2.4 Market Restraints
2.4.1 High Manufacturing Cost of Display Technologies
2.4.2 Presence of Alternatives to Holographic Displays and Low Adoption Rate
2.4.3 Less Effective Projection Under Sunlight
2.5 Market Opportunities
2.5.1 Rapidly Advancing Smartphone and Tablet Market
2.5.2 Rise of 5G and 6G Communication Technologies
3 Competitive Landscape
4 Industry Analysis
4.1 Market Trends
4.1.1 Gearless Holographic Displays
4.1.2 Growth of AR and MR Technologies