Portland, OR, June 15, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Global Volumetric Display Market by Type (Swept Volumetric Displays, Holographic Displays, and Static Volumetric Displays), Technology (Digital Light Processing (DLP) and Liquid Crystal on Silicon (LCOS)), Application (Aerospace & Defense, Medical, Automotive, Communication & Entertainment, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global volumetric display market generated $1.4 billion in 2021, and is anticipated to generate $14.8 billion by 2032, witnessing a CAGR of 27.0% from 2022 to 2031.
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Prime Determinants of Growth
A gradual increase in the demand for volumetric displays from the healthcare sector is predicted to be one of the important factors driving the growth of the global volumetric display market in the forecast timeframe. However, the high cost of volumetric displays may hamper the volumetric display market growth in the coming period. On the contrary, the rising demand for volumetric displays in various applications including gaming and advertising is expected to offer remunerative opportunities for expansion of the volumetric display market in the 2023-2032 forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2022 | $1.4 billion |
| Market Size in 2032 | $14.8 billion |
| CAGR | 27.0% |
| No. of Pages in Report | 280 |
| Segments covered | Type, Technology, Application, and Region |
| Drivers | Rise in demand for volumetric displays from the healthcare sector The increasing applications in medical imaging, surgical planning, and medical teaching |
| Opportunities | The growing applications of volumetric displays in gaming and advertising The rising demand for 3D visualization solutions in different industries |
| Restraints | High cost of volumetric displays |
COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a mixed impact on the growth of the global volumetric display market. Initially, due to lockdowns, the global supply chains were disrupted, which affected the sale of finished goods in the market.
- However, in the later stages of the pandemic, the demand for volumetric displays increased due to a shift in work culture and increased video conferencing. Moreover, the demand for remote collaborations and applications increased which caused a surge in demand for volumetric displays.
- The volumetric display market is further expected to show steady growth in the future due to the increasing need for communication and distant collaboration tools.
Type: Holographic Displays Sub-segment Projected to be Highly Dominant during the Forecast Period
The holographic displays sub-segment accounted for the highest volumetric display market share in 2022 and is expected to grow at a CAGR of 27.2% during the forecast period. Holographic displays are primarily demanded for advanced visualization technologies across various industries. This growing applicability of holographic displays is predicted to boost the sub-segment’s growth by 2032.
Technology: Digital Light Processing (DLP) Sub-segment to Have a Significant Market Share by 2031
The digital light processing (DLP) sub-segment of the volumetric display market accounted for the highest share in 2022 and is predicted to grow with a CAGR of 27.1% over the forecast period. DLP is utilized for a range of display applications, including conventional static displays and interactive displays. The wide range of applications served by digital light processing is expected to drive the sub-segment’s growth by 2032.
Application: Medical Sub-segment to be Flourish Immensely by 2031
The medical sub-segment generated the highest market share in 2022 and is predicted to continue to rise at a CAGR of 27.5% by 2032. Increasing use of volumetric displays by the medical sector due to their ability to provide three-dimensional representations of medical data is predicted to boost the sub-segment’s growth by 2032.
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Region: North America Market to be the Fastest Growing by 2031
The North America region accounted for the highest share in the global volumetric display market in 2022 and is expected to rise at the highest CAGR of 27.5% during the forecast period. The increasing high demand from the entertainment and gaming industries for immersive and visually appealing technologies is predicted to help the North America market to grow significantly by 2032.
Leading Players in the Volumetric Display Market:
- Lumi Industries
- Looking Glass
- Sony
- Voxon Photonics
- Burton Inc.
- REALFICTION
- Artosci
- SeeReal Technologies S.A.
- Alioscopy
- Holoxica
The report provides a detailed analysis of the key players of the global volumetric display market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the volumetric display market opportunity, segments, current trends, estimations, and dynamics of the volumetric display market analysis from 2022 to 2031 to identify the prevailing volumetric display market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the volumetric display market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global volumetric display market trends, key players, market segments, application areas, and market growth strategies.
Volumetric Display Market Key Segments:
By Type
- Swept Volumetric Displays
- Holographic Displays
- Static Volumetric Displays
By Application
- Aerospace and Defense
- Medical
- Automotive
- Communication and Entertainment
- Others
By Technology
- Digital Light Processing (DLP)
- Liquid Crystal on Silicon (LCOS)
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, United Arab Emirates, Saudi Arabia, South Africa, Rest of LAMEA)
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