Volumetric Display Market is driven by increasing demand for high immersive 3D technology-based prod

Author : naufan cmi | Published On : 28 Mar 2024

The volumetric display market comprises holographic displays that creates true to life 3D visuals by filling a viewing volume with moving pixels or vertices that represents points in 3D space. Volumetric displays has numerous advantages over traditional 3D displays like being able to present a fully rotatable 3D image without requiring the viewer to wear glasses, which increases the level of realism and immersion offered. The technology enables new experiences in applications like medical imaging, hologram telecommunications, architecture and product prototyping where 3D visualization capabilities would greatly benefit. Currently volumetric displays are primarily used for commercial applications and proof-of-concept projects. However, with rapid growth expected in related fields like augmented and virtual reality, demand for high immersive 3D displays is anticipated to surge significantly.

The Global Volumetric Display Market is estimated to be valued at US$ 360.3 Mn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Volumetric Display market are Coretec Group Inc., Lightspace Labs, Voxon Photonics, Holografika kft., Holoxica Ltd, Leia Inc., SEEKWAY, Looking Glass , Burton Inc., Alioscopy. These players are actively focussing on developing innovative volumetric display technologies and expanding applications.

The rising demand for advanced 3D visualization solutions across varied industries is a key growth driver for the market. Industries like oil & gas, medical, aerospace, defense, product design are increasingly adopting volumetric displays for immersive training, education and collaboration purposes.

Major players are expanding their presence globally to capture the demand opportunities emerging across nations. Regional headquarters, R&D centers and manufacturing plants are being established across Asia Pacific, Europe and North America to cater to the evolving needs of local customers. International partnerships and acquisitions are also on the rise.

Market drivers

One key driver boosting the volumetric display market growth is the increasing demand for advanced augmented and virtual reality solutions. Volumetric displays are able to produce true 360 degree 3D content without the need for glasses, increasing the level of immersion offered significantly. This capability makes them well positioned to enable the next generation of truly immersive AR/VR experiences. As adoption of AR/VR technologies grows rapidly across various industries, demand for high quality 3D volumetric displays is expected to rise markedly over the coming years.

How current geopolitical situation is impacting the growth of Volumetric Display Market

The Volumetric Display market has been witnessing steady growth over the past few years. However, the ongoing geo-political conflicts and tensions pose challenges for the market. The rising security concerns and defense budgets in the US, Europe and Asia Pacific countries were driving demand. But now resources are being diverted to handle the crisis. The market was also gaining traction in defense and medical sectors of Russia and Ukraine. But the ongoing conflict have disrupted manufacturing, supply chains and demand in the region. This has negatively impacted potential opportunities. Further, rising tensions between China and Taiwan could dampen prospects if the situation escalates. On the other hand, countries are now looking to enhance national security through advanced technologies. This may open up newer application areas for volumetric displays in defense if conflicts de-escalate. The key players need to closely monitor the geopolitical developments and devise appropriate strategies. Diversifying manufacturing locations and identifying new markets can help mitigate risks. Focusing on non-conflict industries like healthcare and education can drive growth. Partnerships for innovative applications can also boost demand.

Regions with highest Value concentration in Volumetric Display Market

Currently, North America accounts for the largest share of the volumetric display market in terms of value. This is attributed to significant investments by US government agencies and private players in industrial and defense related research. Organizations like DARPA are actively funding programs to develop next-gen display technologies with applications in combat coordination, training simulation etc. Several key players are also based in the US contributing to regional concentration of value. Asia Pacific is another major market led by countries like China, Japan and South Korea. Significant focus on innovation and availability of skilled workforce has boosted adoption. Many new startups are commercializing advanced solutions for medical visualization and telepresence. Rising defense budgets can further spur opportunities. Europe is also a notable market driven by major industry players and focus on R&D programs for applications in automotive and healthcare visualization.

Fastest growing regional market for Volumetric Display

The Asia Pacific region is expected to witness the highest growth in the volumetric display market during the forecast period. This is mainly due to increasing investments by government organizations as well as private players across industries such as defense, healthcare, and education in countries such as China, India, South Korea, and Japan. The rising disposable income, growing population, and increasing focus on technological innovation are also fueling the adoption of advanced visualization solutions across industries. Many startups are emerging and collaborating with research organizations to develop diverse applications. In addition, favorable regulations around new technologies are encouraging global players to expand operations to tap the growth potential.

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