USA, Dec. 05, 2022 (GLOBE NEWSWIRE) -- As per the report published by JCMR, The global Holography for Industrial Application market is expected to grow from USD 581.4 million in 2021 to USD 2,155.7 million by 2031, at a CAGR of 14.1% during the forecast period 2022-2031.
Holography is a technique that enables a wavefront to be recorded and later re-constructed. Holography is best known as a method of generating three-dimensional images, but it also has a wide range of other applications. In principle, it is possible to make a hologram for any type of wave. In industrial applications, holographic technology is used for quality control in manufacturing and fracture testing, such as holographic non-destructive testing. Holography has a wide range of applications in medicine, the military, weather forecasting, virtual reality, digital art, and security. The fourth industrial revolution aims to provide automated asset monitoring, decision-making for corporate operations, and real-time network connectivity.
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Holography is also utilized by artists for exploring pure light and 3D space. Medical professionals would most likely use improved holograms for examination of three-dimensional data gathered by CAT and MRI scan cameras in complete three-dimensional format.
Holographic scanners contain multiple lenses capable of focusing at different distances and reading bar codes from any angle and height. This technology is widely used in large scan areas in warehouse distribution, packaging, and material handling.
In particular, holographic scanning is gaining rapid popularity in material handling applications. Advancements in holographic technology will drive the adoption of this technology in material handling. CD-sized holodisks are likely to emerge as innovative and cost effective holographic scanners in the coming years.
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Computer Aided Design (CAD) systems that have been developed for electrical and mechanical design tasks are also effective tools for the process of designing Computer Generated Holograms (CGHs), particularly when these holograms are to be fabricated using electron beam lithography.
Lately, the hologram design trend has made a huge splash in the world of car design. Ford recently announced that it was using Microsoft’s daring HoloLens mixed reality technology to help it design its new vehicles. Its designers can now simply don headsets to “visualize” any proposed design changes, additions, and improvements to their fleet of vehicles.
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The Asia-Pacific region stands as a promising market for Holography for Industrial Applications and is expected to grow at the highest CAGR during the forecast period. Some of the key factors that are primarily driving growth in the APAC region are high-security holograms can be used on license plates for vehicles such as cars and motorcycles. As of April 2019, holographic license plates are required on vehicles in parts of India to aid in identification and security, especially in cases of car theft. Such number plates hold electronic data of vehicles, and have a unique ID number and a sticker to indicate authenticity. The North America region is expected to account for the largest market share in terms of the use of film technology for automotive lighting offers several benefits. Holographic films provide automotive designers and engineers with design freedom while using light as a design element. Besides allowing a vehicle to stand out from the pack, Bayfol HX does not require a lot of space for installation and can make a big impact in a small space. It also has the potential to be used in a modular system, allowing for easy and adaptable holograms and designs.
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Key players in the global Holography for Industrial Application market are
3D AG
AHEAD Optoelectronics Inc.
API Group Plc
Crown Roll Leaf Inc.
De La Rue Plc
Headwall Photonics Inc.
Holographix LLC
HoloTech Switzerland AG
Holtronic Technologies
Jenoptik AG
K Laser Technology Inc.
Kaiser Optical Systems Inc.
Laser Technology Inc.
Other key players
Key companies are mainly focusing on developing new Applications, forming partnerships, and joint ventures to gain significant market share in the global Holography for Industrial Application market.
Market By Type
- Holography Equipment and Supplies
- Holographic Materials
Market By Application
- General Industry
- Automotive
- BFSI and Government
- Other Applications
