Pune, India, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The global 3D display market is estimated to be worth of USD 16.76 Billion in 2021 and it is expected to register a CAGR of 27.54% during the forecast period, as per a detailed market study by Quince Market Insights.
3D display is a three-dimensional visualization that uses holographic, volumetric multi-view, and stereoscopic projection to show pictures with depth perception. Another name for them is stereo display. 3D display technologies provide a variety of visual experiences without requiring the viewer to wear special glasses or utilize special viewing gear. Because of these technologies, users may witness the 3D experience with their own eyes. Three of the most common applications for 3D displays are defense, gaming, and entertainment. The rapid growth of the entertainment and media industries has a positive impact on the 3D display market. The number of movie theatres has substantially increased. Around the world, 135,000 movie screens are connected to a digital platform. This would benefit the 3D display business. These screens are getting increasingly popular as the number of 3D films produced increases. Furthermore, as a result of changing consumer preferences, the number of 3D moviegoers is increasing year after year. As a result of these improvements, the market for 3D displays is expected to grow. Demand for 3D displays has increased as a result of the advent of new home consoles.
The bulk of industry competitors now offer 3D displays in TVs, monitors, and smartphone apps. Pricing differences between 3D and standard 2D display alternatives are causing customers considerable anxiety. 3D displays are more expensive than their 2D counterparts because to the high expense of auto stereoscopic technology. As a result, 3D displays are preferred by only those organisations and consumers who want extremely complex end deliverables. Customers and organisations with specially defined budgets for such expensive things can only afford the professional 3D display.
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3D display applications are expected to increase rapidly during the projected period. TVs, monitors, smartphones, and tablets are just a few examples of the devices that can be used. The adoption of 3D displays will be accelerated in the future as a result of the development of these applications. Virtual reality can be experienced with the use of 3D display technology. The number of smartphones and tablets is likely to expand in the future decades.
Impact of COVID-19 on Global 3D Display Market
Several assembly factories across the world have been shut down as a result of the COVID-19, particularly in the ICT sector. A drop in the purchasing power of consumers for high-end products has hampered the development efforts of several major businesses. Furthermore, the pandemic has caused further controlled examination and improvement actions, which may be inferred from the lack of workers and disruption in basic material supply.
Global 3D Display Market, By Type
Based on type, the 3D display market is bifurcated into autostereoscopic 3D display and stereoscopic 3D display. Among these segments, stereoscopic 3D display captured the largest market share in global 3D display market in 2021 and is anticipated to remain largest till the forecast period. Because of the shift in customer choice from going to the movies to watching them at home on TVs or laptops, TV makers are focusing on 3D display as a value addition to their products. These TVs provide a stronger visual effect, providing viewers with greater image clarity, vivid colors, and a feeling of depth of awareness. CEMs are attempting to place 3D-capable TVs in gadgets with high-end features
Global 3D Display Market, By Technology
Based on technology, the 3D display market is segmented into organic light emitting diode, digital light processing, and light emitting diode. Among these segments, light emitting diode (LED) captured the largest market share in global 3D display market in 2021 and is anticipated to remain largest till the forecast period. As LED panels are commonly utilized as backlighting solutions to improve image quality and reaction time. LED-based displays are being developed by a number of market companies for a variety of applications including TVs, smartphones, monitors, and head-mounted displays (HMDs), which is contributing to the growth of the 3D display market.
Global 3D Display Market, By Application
Based on application, the 3D display market is segmented into automotive, consumer electronics, medical, retail, advertising, military & defense, and others. Among these segments advertising captured the largest market share in global 3D display market. Among these segments, advertisement captured the largest market share in global 3D display in 2021 and is anticipated to remain the largest till the forecast period. This is due to its extensive use in the entertainment and gaming sectors for a variety of purposes, including movies, cartoons, academia, and video games. Furthermore, improvements in autostereoscopic technology and lower stereoscopic product prices are boosting the segment's growth.
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Global 3D Display Market, By Region
Based on region, the global 3D display market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific will witness significant growth and become a major revenue-generating regional market during the projected period. The robust growth of the gaming and entertainment industries, especially in India, China, and Japan, is expected to play an important role in accelerating the adoption rate over the projected period. The presence of major OEMs is also contributing remarkably toward regional growth.
Recent Developments in Global3D Display Market
- January 2020- Looking Glass Factory Inc. raised USD 14 million in funding in 2020.
- June 2019- Leia Inc. teamed up with Continental, an OEM automobile supplier, to create the Natural 3D Lightfield Instrument Cluster, a revolutionary 3D cockpit lightfield display for the automobile industry.
Some major industry players functional in the global 3d display market are Panasonic Corp., Sony Corp., LG Electronics Inc., Toshiba Corp., Samsung Electronics Corp., Sharp Corp., Fujifilm Corp., 3D fusion, 3DIcon, and Mitsubishi Electric Corp.
To Find more insights on this topic, visit “3D Display Market Type (Stereoscopic 3D Display and Autostereoscopic 3D Display), Technology (Digital Light Processing, Organic Light Emitting Diode, and Light Emitting Diode), and Application (Consumer Electronics, Automotive, Medical, Advertising, Retail, Military and Defense, and Others), And Region (North America, Europe, Asia Pacific, Middle East & Africa, South America)” — Industry Trends and Forecast To 2030— Industry Trends and Forecast To 2030 in-depth analysis along with the table of contents (ToC).
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