New York, USA, Sept. 15, 2021 (GLOBE NEWSWIRE) -- According to a recently published report by Research Dive, the global volumetric display market is expected to garner revenue of $975.1 million by 2026, rising from $132.5 million in 2018 at a stable CAGR of 28.0% from 2019-2026.
The in-depth report contains a brief overview of the current scenario of the market, including other aspects such as growth and restraining factors, dynamics of the market, challenges, and opportunities during the forecast period. The report also provides an estimate of the market figures, which makes it easier and simplifies the process for the new participants to understand the real-time scenario of the market.
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Market Dynamics
The widespread implementations of 3D technology which include 3D holographic projections and 3D printing have led to a surge in demand for volumetric displays especially in the healthcare sector. The market has also witnessed new and advanced imaging and diagnosis devices being designed with the assistance of volumetric displays. These factors are set to propel the growth of the market in the forecast period.
On the contrary, the pandemic resulted in the medical sector being overpowered by the abundance of patients seeking treatments amidst the coronavirus. A survey conducted by Conceptual MindWorks stated that majority of the people were seeking general medical advice using telemedicine due to the lockdown. These factors are anticipated to hamper the growth of the market.
Factors Affecting the CAGR Figures Pre and Post the Pandemic
The report provides a current update of the CAGR that was witnessed by the market. The report states, that the global volumetric display market the expected CAGR before the pandemic was 29.0% but it is predicted to decrease to 28.0% during the forecast period from 2019-2026.
Factors Causing Change in Market Size Pre and Post Covid-19
The report also provides an insight into the drop in the market growth owing to the rapid spread of the coronavirus. Prior to the pandemic the revenue was estimated to be over $226.5 million in 2020, but as a result of COVID-19, the revenue is predicted to drop to $178.5 million. The pandemic resulted in the implementation of guidelines which led to lockdowns in order to curb the spread of the virus. Over time, the indefinite closure of organizations led to several industries and organizations shutting down. The market is expected to recover by the 1st or 2nd quarter of 2022.
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Major Key Players of the Volumetric Display Market
The report also provides a list of key players whose various initiatives have been contributing to the growth of the global volumetric display market. These include-
- LightSpace Technologies
- Leia Inc
- Holografika
- Holoxica Ltd
- Aliscopy
- Zebraimaging
- The Coretec Group Inc
- Seekway
- Voxon Photonics
- Bruton Snowboards
For instance, in September 2020, Leia Inc., a renowned provider of content services and display hardware in collaboration with Infuse Medical, an expert in 3D animation for medical education to initiate interactive E-Learning solutions. This will assist in providing practical knowledge about the human body including coronary, spine, orthopaedics as well as generalized topics such as aesthetics, and imaging to medical professionals.This immersive experience is provided using the Lume Pad tablet by Leia which provides an immersive experience without the 3D glasses. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
Post- COVID 19 Predictions
The report provides estimation that the global volumetric display market is expected to witness a decline in the post-COVID period. Many industry experts are trying to work on mergers & acquisitions, and various other measures to help the industry recover in the upcoming years.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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