New York, USA, Aug. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global volumetric display market is expected to garner a revenue of $975.1 million by 2026, growing exponentially at a CAGR of 28.0% during the forecast period 2019-2026. The comprehensive report provides a brief overview of the scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during and post-pandemic period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Influencing the CAGR Figures Pre and Post COVID-19 Outbreak
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market is predicted to grow at a CAGR of 28.0% during the forecast period, while it was anticipated to be 29.0% in the pre-COVID-19 scenario from 2019 to 2026. The partial shutdown of manufacturing industries all across the globe due to the pandemic and the implementation of lockdowns are considered to be the main reasons behind the fall in the growth rate of the volumetric display market. Along with this, the complex nature of the working procedure of volumetric displays is further expected to aggravate this problem of decline in growth rate of the market.
Factors Impacting the Market Size Pre and Post COVID-19 Outbreak
According to the report, the real-time volumetric display market size has significantly decreased compared to the pre-COVID-19 estimations. The real-time market size reached a revenue of $178.5 million in 2020, while its estimations were $226.5 million during the pre-COVID scenario. Lack of technical knowledge and low-resolution power of volumetric displays is predicted to be the important causes behind this loss of projected revenue of the market. Additionally, governments across the world mandated a partial shutdown of industries and companies, due to which the demand for volumetric displays fell immensely. This has led to a substantial decrease in the market size of the volumetric display market.
Post-Pandemic Insight
As per the report, the global volumetric display market is expected to recover in the 1st/2nd quarter of 2022. Recently, a growing demand for 3D holographic mixed reality displays is being witnessed, which is predicted to help the volumetric display market to gain its lost ground in the coming period. Additionally, technological advancements and product launches by key market players is anticipated to push the market further.
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Key Players of the Volumetric Display Market
The prominent players of the volumetric display market include
- LightSpace Technologies
- Holografika
- VOXON PHOTONICS
- Zebraimaging
- SEEKWAY
- ALISCOPY
- Leia Inc.
- Holoxica Ltd.
- Bruton Snowboards
- The Coretec Group Inc., and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions. – Granular Research on Specific Regions or Segments of Volumetric Display Market
For instance, in February 2021, Voxon Photonics, an Australian 3D volumetric display developer, announced that it would be collaborating with BAE Systems’ UK based submarine program and Australia’s Hunter Class Frigate project. With this partnership, Voxon Photonics has entered the arena of developing air, land, marine, and space defense technologies. This partnership is expected to help all the collaborators immensely in the coming period.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Volumetric Display Market:
- What is the Future Potential of the Volumetric Display Market After the COVID-19 Pandemic?
- Innovations In The 3D Displays During COVID-19 Pandemic Will Fuel The Growth Of Global Volumetric Display Market
