Pune, India, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The attractiveness and potential applications of 3D visualization have been driving the developments in 3D displays. Since the development of first consumer products based on stereoscopic 3D display technology such as 3D TVs and monitors by companies such as SONY and LG to current autostereoscopic 3D display solutions, the market landscape for 3D displays has been evolving continuously. The disadvantages and limited capabilities of stereoscopic 3D displays have led to discontinuation of most of these products.
3D Display Market in terms of revenue was estimated to be worth $0.57 billion in 2021 and is poised to reach $3.29 billion by 2028, growing at a CAGR of 28.3% from 2021 to 2028 according to a new report published by The Insight Partners.
The continuous investments especially in autostereoscopic 3D display solutions and growing number of partnerships between market players and end users to develop advanced holographic and volumetric 3D display systems for a wide range of applications are factors driving the growth of the global 3D display market.
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Global 3D Display Market Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 0.57 billion in 2021 |
| Market Size Value by | US$ 3.29 billion by 2028 |
| Growth rate | CAGR of 28.3% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | Type, Technology, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
There is a heavy adoption of holographic 3D displays in the media and entertainment field. The holographic display was first used in 2012 at the Coachella Valley Music & Arts Festival, where a hologram of Tupac Shakur—an American rapper—was projected on the stage for a 3D music performance. Later, holograms of Michael Jackson, BTS Suga, and several other artists were recreated in musical concerts. Thus, due to heavy adoption of holographic displays across the world, the 3D display market is likely to accelerate in the coming years. Moreover, an increase in the demand for 3D visualization in entertainment, gaming, defense, and medical industries drives the market growth. Rapid development of smartphone models with curved display, proliferation of gaming industry worldwide, and incorporation of AR/VR in consumer electronics products are anticipated to bring commercial opportunities to 3D augmented reality (AR) head-mounted display in the coming years. Besides, the mounting investments in advanced technologies in automotive to provide better efficiency and safety are also likely to surge the adoption of 3D displays.
In 2020, the COVID-19 outbreak negatively impacted the growth rate of the global 3D display market due to business shutdowns and a decline in demand from end users, especially in retail and advertising sectors. The cancellation of events, exhibitions, and restrictions on mass gathering events are among the factors that affected the demand for 3D displays worldwide. The increase in the number of COVID-19 confirmed cases and rising reported deaths in the country have affected manufacturing and sales of materials associated with 3D displays. The factory and business shutdowns across the US, Canada, and Mexico negatively impacted the adoption of 3D displays. The world is expecting market recovery and economic improvement with COVID-19 vaccination drives. However, companies are prone to risks with the market uncertainties from tough business environment associated with unfavorable foreign exchange rate, raw material price, and logistics cost.
Growing Number of Industry Partnerships to Propel Market Growth
The present 3D display market is in its nascent stages of growth cycle, and companies operating in this market are investing heavily in R&D to bring successful 3D display systems in the commercial market. The current key application areas of 3D displays are marketing and advertising sectors. Medical, automotive, and defense are expected to be some of the largest growth potential areas for 3D displays. The prospective application areas of 3D display technologies could be unprecedented depending on the positive growth and technology development in the market. For instance, in 2020, Continental announced the launch of its volume-production display featuring an autostereoscopic 3D technology in its HMC Genesis GV80 variant.
Global 3D Display Market: Holographic 3D Display Systems to Drive Market Growth
Holographic display technology generates arbitrary wavefronts that can be considered as an ultimate 3D experience for end users. In comparison to 2D image-based stereoscopic displays that are used to create 3D perception, which can create issues such as headache, visual discomfort, eyestrain, and fatigue in some users, the holographic 3D displays are quite comfortable for users who want to experience realistic 3D. However, the requirement of high volume for these displays makes them difficult to use in many potential applications. Thus, holographic 3D displays that use a 2D surface by exploiting the wave nature of light to develop 3D images are considered a more viable option for potential 3D display applications in fields such as marketing, advertising, medical, automotive, education, entertainment, gaming, retail, hospitality, events, sports, and digital signage.
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Global 3D Display Market: Competitive Landscape and Key Developments
AU OPTRONICS CORP.; Innolux Corporation; LG Electronics; Mitsubishi Electric Corporation; Panasonic Corporation; Samsung Group; Sharp Corporation; Looking Glass Factory Inc.; Light Field Lab, Inc.; Leia Inc.; Sony Corporation; Toshiba Corporation; and Fujifilm Corporation are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global 3D display market and its ecosystem.
Global 3D Display Market – Key Market Dynamics
Drivers
- Potential Applications of Advanced 3D Display Technologies in End-User Industries
Restraints
- High Cost Associated with 3D Display Technologies
Opportunities
- Growing Number of Industry Partnerships to Boost the Demand
Future Trends
- Holographic 3D Display Systems to Drive the Future Growth
Recent Developments:
In April 2021, AUO launched a stunning series of ALED Displays at Touch Taiwan 2021 with world-leading micro LED technology and applications on showcase.
In September 2021, Samsung's stretchable display can turn 2D content into moving 3D scenes.
Go through further research published by The Insight Partners:
Display Technology Market - Global Analysis and Forecast to 2030.
3D Technology Market - Global Analysis and Forecast to 2030.
Screenless Display Market - Global Analysis and Forecast to 2030.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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