Volumetric Display Market to witness highest growth owing to increasing adoption in healthcare and industrial sectors

The volumetric display market comprises products that can display 3D imagery without the need for special glasses. Some key products in the volumetric display market include swept-volume displays, static-volume displays, and multi-planar displays. These displays utilize different optical technologies such as moving laser beams, moving optic lenses, rotation of physical objects, and acoustic waves to render true 3D volumetric imagery that can be viewed from all angles without any additional accessories.

The demand for 3D displays is increasing across various industries like entertainment, healthcare, education, and engineering owing to their ability to provide highly immersive experiences. Volumetric displays offer significant advantages over other 3D display technologies as they produce true 3D projections that eliminate issues like the vergence-accommodation conflict seen in other techniques. Furthermore, they have wide viewing angles and enable interaction and collaboration between multiple viewers simultaneously.

The Global volumetric display market is estimated to be valued at US$ 360.3 Mn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in The Volumetric Display Market are Coretec Group Inc., Lightspace Labs, Voxon Photonics, Holografika kft., Holoxica Ltd, Leia Inc., SEEKWAY, Looking Glass , Burton Inc., Alioscopy. Coretec Group Inc. and Lightspace Labs are considered leading players in this market.

The major opportunities in the volumetric display market include increased adoption across healthcare for medical imaging and visualizations, growing demand for 3D advertisements and digital signage, utilization in education and training simulations. Furthermore, integration of volumetric displays with AR/VR devices will also boost the market opportunities.

Key players are focused on expanding globally to cater to the rising demand. Coretec Group has collaboration with Asia firms to commercialize its volumetric display technology. Holoxica is focusing on European and Asian markets for holographic products. Leia Inc has partnership with GoPro to enhance 3D capture capabilities of cameras. SEEKWAY signed deal with European retailer for store layout design using its holographic technology.

Market drivers: Increasing demand for highly immersive 3D visualization technology across industries like advertising, healthcare and gaming is a key driver. Secondly, adoption of volumetric displays in engineering design and simulation is also propelling the market growth.

Market restrain: High production cost of volumetric displays remains a major challenge limiting widespread adoption. Secondly, technological limitations like small display sizes and low resolution are also restraining faster market penetration.

Segment Analysis

The technology segment dominated the global volumetric display market in 2021 and is expected to continue its dominance during the forecast period. The key factors attributed to the large share of this segment include continuous technological advancements in volumetric display technology and significant investments by market players to develop advanced volumetric display solutions. Within the technology segment, swept-volume display technology contributed to the major revenue share in 2021 and is expected to remain the largest sub-segment during the forecast period. Swept-volume display provides full-color volumetric display by utilizing rotating components and addressable matrices, which makes it ideal for various commercial and industrial applications.

Global Analysis

North America captured the largest share of the global volumetric display market in 2021. The growth of the regional market is primarily attributed to significant investments in R&D activities by major volumetric display technology providers and early adoption of advanced display technologies. The regional market is also expected to witness the highest CAGR during the forecast period due to the increasing application of volumetric display solutions in medical imaging, automation, and defense sectors in the region. On the other hand, the Asia Pacific market is anticipated to witness the second-highest CAGR from 2024 to 2031. This brisk growth is credited to increasing government support for digital technologies and growing industrial automation in countries such as China, Japan, and South Korea.

 

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