Selbyville, Delaware, Sept. 01, 2020 (GLOBE NEWSWIRE) --
According to latest report “3D Display Market by Product (Volumetric Display, Stereoscopic Display, Head-Mounted Display), Technology (Digital Light Processing (DLP), Plasma Display Panel (PDP), Organic Light Emitting Diode (OLED), and Light Emitting Diode (LED)), Application (Television, Smartphones, Monitor, Projector Devices, Virtual Reality Headset), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of 3D display will cross $60 billion by 2026.
The market growth is attributed to the growing adoption of 3D displays in air traffic controls. 3D visualization delivers highly accurate data and improves awareness on the position of aircraft and landmark space. Furthermore, the integration of augmented reality in air traffic controls will further boost the adoption of 3D displays for improved data visibility. Companies are collaborating to integrate advanced technologies into air traffic control systems for improved data viability on aircraft and other related features.
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The volumetric display segment in the 3D display market held around 5% share in 2019 and is poised to observe 30% growth rate through 2026 due to its growing applications in the medical imaging, entertainment, and gaming industries. Volumetric displays offer several high-end characteristics including large viewing angle, motion parallax, and exact focal depth of real-world objects, accelerating their demand in gaming applications. This has also inclined companies toward the development of 3D volumetric displays and to deliver a new dimension in the gaming sector.
The monitor application segment is estimated to attain a CAGR of 27% till 2026. The growth is attributed to rising applications of 3D display monitors in the medical & healthcare sector. These monitors are integrated with medical imaging devices, such as X-rays, MRI scans, ultrasound images, etc., to create 3D visual representations of the body’s interior for clinical analysis and medical intervention. In addition, the demand for 3D display monitors is increasing rapidly for medical surgeries. With 3D imaging, a surgeon can analyze the anatomy of the internal tissues and can operate with high precision and accuracy.
The Digital Light Processing (DLP) technology accounted for over 25% 3D display market share in 2019 owing to its rising adoption in cinema hall projectors, home theaters, and commercial entertainment, among others. DLP chips deliver seamless picture by reducing the gap between the pixels, further increasing their adoption in 3D displays for various business presentations and to deliver high accuracy & visibility of data. In July 2020, Panasonic had announced various new collaboration solutions including audio, projection, and display equipment. The company has demonstrated its PT-LRZ35 Series projector with DLP technology used in small meeting space and classrooms. It delivers high image quality and can be demonstrated in a 3D display with compatible glasses.
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The Europe 3D display market accounted for 20% revenue share and is expected to showcase 25% CAGR from 2020 to 2026 on account of the presence of major automotive OEMs in the region including PSA Group, BMW Group, and Audi. Major players are focusing on the development of advanced automotive safety systems, such as self-driving cars and ADAS, driving the demand for 3D displays in modern mobility solutions in the region.
Some of the prominent companies operating in the market include LG Corporation, Panasonic Corporation, Sony Corporation, AU Optoelectronics, Universal Display Corporation, and Samsung Electronics Corporation, among others. These leaders are focusing on new product launch, entering new alliances to complement the existing partner network, and implementing new technologies to strengthen their market presence. For instance, in March 2019, IQH3D launched its new glass-free 3D display with a 4K digital capability for commercial digital signage in North and Central America.
Some major findings of the 3D display market report include:
- Rising innovations in OLED will accelerate the demand for 3D displays in smartphones. The OLED technology offers distinctive characteristics including a wide-angle view and high contrast ratio on mobile screens. In addition, the introduction of foldable OLED displays, virtual reality, and 3D sensing in smartphones will fuel the 3D display market in the coming years.
- The increasing inclination toward realistic viewing experience has increased the adoption of 3D display technology into TV application. Furthermore, the increasing penetration of streaming services, such as Netflix, Hotstar, etc., that are promoting 3D movies and web series on their online platform will increase the demand for 3D display televisions in the market.
- The advent of Virtual Reality and Augmented Reality (VR/AR) technology into the gaming industry has increased the demand for head-mounted displays, 3D gaming consoles, and 3D display projectors.
Table of Contents (ToC) of the report:
Chapter 3. 3D Display Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.2.1. Global consumer electronics industry landscape
3.3. Impact analysis of corona virus (COVID-19) pandemic on the market
3.3.1. Global outlook
3.3.2. Impact by region
3.3.3. Industry value chain
3.3.3.1. Research and development
3.3.3.2. Manufacturing
3.3.3.3. Marketing
3.3.3.4. Supply
3.3.4. Competitive landscape
3.3.4.1. Strategy
3.3.4.2. Distribution network
3.3.4.3. Business growth
3.4. Industry ecosystem analysis
3.4.1. Raw material and component supplier
3.4.2. 3D display providers
3.4.3. Gab suppliers
3.4.4. Semiconductor component manufacturers
3.4.5. OEMs
3.4.6. Vendor matrix
3.5. Technology & innovation landscape
3.5.1. Glass free 3D display
3.5.2. Foldable 3D displays
3.5.3. Development of mini-LED and micro-LED
3.5.4. Introduction of flexible OLED
3.6. Regulatory landscape
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls and challenges
3.8. Growth potential analysis
3.9. Porter’s analysis
3.9.1. Industry rivalry
3.9.2. Threat of new entrants
3.9.3. Buyer power
3.9.4. Supplier power
3.9.5. Threat of substitutes
3.10. PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.