Holographic displays function on the principle of light diffraction for creating 3D images. They are distinct from other 3D displays by being visible to the naked eye without the assistance of 3D glasses. Market Research Future’s (MRFR) report on the holographic display market sheds light on new applications as well as developments in diffraction and refraction. The report focuses on estimations on production and value chain for the market during the forecast period (2020-2027) while assessing the impact of the COVID-19 pandemic.
Market Scope
The global touchable holographic display market size can showcase 19% CAGR over the forecast period. It can face huge demand from automotive and medical sectors as holograms are used in providing precise measurement of components, objects, and specimens. Holographic display has been used in conducting quality assurance tests and eliminated compressor bond failures. Demand for holographic projections at weddings, events, and product marketing events can create interest among customers. Market leaders across industries have utilized holographic displays owing to rise of digital signage modules and holographic kiosks.
The COVID-19 pandemic has slowed down the industry due to lack of access to research materials and simulation models for testing the latest products. Holographic displays are likely to witness huge demand and bolster the market growth over the forecast period. This is supported by the research conducted by the Radiological Society of North America with chest CT scans being able to detect the presence of the COVID-19 virus in patients in comparison with RT-PCR images.
But high costs of holographic products as well as exorbitant prices of objective lenses and digital imaging devices can hamper its growth.
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Segmentation
On the basis of the technology, the market is segmented into laser, semitransparent, touchable, and piston. The semitransparent technology is bound to capture a significant market share owing to its use in medical scanners. Medical students have been able to enhance their knowledge through holographic displays and make strides in surgeries. On the other hand, the touchable technology can exhibit a swift growth rate over the forecast period owing to success in research labs and reputed universities. Interaction with holograms can drive the segment growth.
By product type, the holographic displays market is segmented into kiosks, camera, digital signage, medical imaging equipment, smart TVs, and others. Smart TVs are likely to dominate the market owing to advances in holographic technology and use of haptic controls for controlling the device.
Major market applications are real-time non-destructive testing, 3D image projection, image storage, scanning &detecting of scattered light, and image replication.
On the basis of the end-users, the market is classified into automobile, manufacturing, healthcare, defense and aerospace, media and entertainment, educational sector, and others. The healthcare sector is estimated to be one of the biggest contributors of the market owing to medical imaging becoming highly relevant for accurate diagnosis of diseases. Adoption of holography for improving medical outcomes and awareness of benefits among the medical community can bode well for the market.
Regional Analysis
North America, Asia Pacific (APAC), South America, Europe, and the Middle East & Africa (MEA) are major regions analyzed for measuring the growth of the global holographic display market.
North America is pegged to be the leading region in the market owing to applications of holograms in industrial, commercial, consumer, and healthcare. Heavy investments in research and development, affluence of customers, and competitiveness of similar products can drive the market growth over the forecast period.
APAC is likely to evoke a huge demand in the holographic display market owing to a large customer and industrial clientele.
Competitive Scope
AV Concepts, Konica Minolta Inc., Provision Holdings Inc., Realview Imaging Ltd., Holoxica, Qualcomm, ViewSonic Corp., Eon Reality Inc., Zebra Imaging, and Musion Das Hologram Ltd. are notable players of the global holographic display market.
Industry News
The Ricoh Company launched a prototype of a 3D display, Warpe, capable of projecting holographic displays from all angles. It aims to commercially launch the product by 2022.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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