Wilmington, Delaware, United States, April 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global 3D display market is estimated to advance at a CAGR of 19.2% during the forecast period from 2023 to 2031 and reach US$ 494.9 Bn by the end of 2031. Exponential growth of the gaming industry and integration of AR & VR devices in consumer electronics is anticipated to fuel the 3D display market in the next few years. Rise in demand for 3D technology in innovative medical applications is likely to boost market value.
3D display technology refers to technology used to display 3D images or videos. 3D display uses specialized screens or projectors that can create the impression of depth in images. 3D displays are primarily used in gaming, entertainment, advertising, and medical applications.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 101.8 Bn | |
| Estimated Value | USD 494.9 Bn | |
| Growth Rate - CAGR | 19.2% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 217 Pages | |
| Market Segmentation | Type, Technology, Access Method, Application, End-use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Continental AG, Holoxica, HYPERVSN, KDM P.O.P. Solutions Group, Leia, Inc., Looking Glass, Nanjing DSeeLab Digital Technology Co., Ltd., New 3D Technology, Inc., Realfiction, Samsung Electronics, SeeReal Technologies, Sharp Corporation, Sony Corporation, Virtual On Ltd., VividQ Ltd., Voxon Photonics | |
Key Findings of Study
Rise in Demand for 3D Technology in Gaming Industry – The gaming industry has been a key driver of the 3D display market since the past few years. With the surge in demand for immersive gaming experiences, 3D technology is preferred among gaming companies. This, in turn, has led to increased production and sales of 3D displays.
Besides gaming, 3D displays are used in education, healthcare, and entertainment industries. The utilization of 3D display in these industries has improved representation and learning experiences. Rapid advances in the video game industry and need for development of computer technology have led to increased player requirements for game display technology.
Changing consumer preference from 2D to 3D games with the wish to view more realistic 3D scenes in 2D display is fueling the global market. Thus, game developers in the research & development stage of game design strive for an improved level of game quality and the actual impact. Additionally, adoption of 3D technology gives the impression of 3D on a 2D display.
At present, 3D technology is one of the most futuristic hi-tech technologies, and is used in many spheres. Integration of 3D technology into video games can result in qualitative improvement in the game. Modern video games have evolved from 2D to 3D effects, thanks to 3D technology that enables vivid scenes similar to movies. Currently, the 3D video game industry is an example of high-end technology in the entertainment industry, and is steadily maturing.
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Integration of AR &VR Devices in Consumer Electronics - Rapid integration of AR & VR devices in consumer electronics is fueling the 3D display market size. Advent of advanced hardware and software that are affordable have made these technologies more accessible for average consumers. 3D displays use AR and VR technology together, to create a 3D image that appears to be suspended in space.
The scope of applications of this technology extends from gaming and entertainment, to education and training. With consistent evolution of these technologies, the 3D display market is poised to witness innovative applications in the future. Virtual shopping and remote medical applications, are further possibilities of these technologies.
AR & VR are poised to emerge as next-generation display platforms for stronger human-digital interactions due to swift advancements in computation and high-speed communication technologies. Taking a cue from this, companies in the global market are developing novel technologies to attract customers, thereby resulting in increased market share. For instance, Sony Corporation entered into a business alliance with Theta Labs Inc. to launch 3D NFTs, wherein the design is compatible with the Spatial Reality Device technology of Sony Corporation launched in May 2022.
Rise in Adoption of Stereoscopic Display – In terms of type, the stereoscopic display segment held the leading market share in 2022. Stereoscopic display provides a more immersive and engaging experience for users, and thus dominates the market.
Additionally, wide adoption of the technology in the entertainment industry, particularly in video games and movies, due to its ability to enable viewers to experience a feeling of participation in the action, is creating business opportunities.
Besides the entertainment sector, stereoscopic 3D displays have also found application in medicine, engineering, and architecture fields. For instance, engineers and architects can use 3D display to visualize designs and make necessary changes before construction begins.
Growth Drivers
- Utilization of 3D displays in entertainment, gaming, medical, and advertising industry sectors is fueling the 3D display market
- Key advantages of 3D display technology for immersive viewing experience, improved representation of complex data and designs, enhanced educational experiences, and a sense of participation for users is augmenting industry growth
Regional Landscape
As per recent 3D display market trends, North America held the leading share of the market in 2022. This is ascribed to large population of gamers, rise in demand in medical applications for complex procedures, and presence of large number of leading players.
The Asia Pacific 3D display market is anticipated to grow at a rapid pace during the forecast period due to presence of key developing economies and increasing adoption of digital technologies in the region.
Competitive Insights
Competition in the 3D display market is fragmented due to the presence of large number of major players. Expansion of product portfolio, acquisitions, and partnerships are major strategies adopted by leading players in the industry.
Key players in the 3D display market include HYPERVSN, Continental AG, Leia Inc., DSeeLab Digital Technology Co. Ltd., and Voxon Photonics.
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The global 3D display market is segmented as follows:
Global 3D Display Market, by Type
- Stereoscopic Display
- Head-mounted Display
- Volumetric Display
- Holographic Display
Global 3D Display Market, by Technology
- Digital Light Processing
- Plasma Display Panel
- Organic LED
- Light Emitting Diode
Global 3D Display Market, by Access Method
- Screen Based Display
- Micro Display
Global 3D Display Market, by Application
- Television
- Computing Devices
- Projectors
- AR & VR Devices
- Digital Signage
- Others
Global 3D Display Market, by End-use Industry
- Consumer Electronics
- Media and Entertainment
- Automotive
- Medical
- Retail
- Others
Global 3D Display Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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