April 20, 2024
Volumetric Display Market

Volumetric Display Market is Estimated to Witness High Growth Owing to Advancements in Holographic Technologies

Volumetric display refers to a device capable of producing a visual representation of data in three physical dimensions, as opposed to the traditional flat, two-dimensional plane. Volumetric displays have several advantages over traditional displays like ability to render graphics in true 3D format without needing glasses, increase comprehension of highly detailed and complex data visualization and improve depth perception for medical imaging. The increasing need for high-resolution 3D visualization of data in industries like medical, defense, engineering has fueled adoption of volumetric display technology.

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 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. Coretec Group Inc. is a leading player focusing on developing and commercializing Silicon Carbide based 3D light field displays.

The rising demand for advanced visualization of complex 3D datasets in industries is opening up new opportunities for volumetric displays. Adoption is expected to grow in medical imaging for surgical planning and defense sector for combat simulation. 3D holographic displays are finding increasing usage in advertising and entertainment industries to enhance viewer engagement.

Technological advancements like digital light processing based volumetric displays, improved resolution LED based displays and electro holographic displays offering full parallax are expected to provide new use cases and drive adoptions across several verticals over the forecast period.

Market Drivers
Increasing demand for realistic 3D simulation and training across diverse industries like defense, manufacturing, medical is a key driver for volumetric display market. Growing applications of 3D holographic displays for advertising in retail and entertainment sectors is also fueling revenues. Rapid improvements in displays resolution and cost reduction through newer technologies is expanding addressable market for volumetric displays.rising focus on advanced medical imaging for surgeries and healthcare is further supporting market growth over coming years.

Current challenges in Volumetric Display Market:

The volumetric display market is relatively new and growing rapidly. However, there are a few challenges currently hampering faster growth and adoption of this technology. One major issue is the high costs associated with the development of accurate and advanced volumetric display systems. The components and integrated circuits required to produce high-quality 3D volumetric imagery without ghosting or shadowing effects are expensive. This makes volumetric displays prohibitive for widespread commercial and consumer applications currently. Another challenge is the limited resolution and image quality of existing volumetric display prototypes. Full-color, high definition 3D volumetric rendering with depth sensing over long distances is still not possible flawlessly. Technical issues regarding the scanning speed and refresh rates of rotating moving parts or acoustic modulated light also affect user experience negatively. Addressing these issues through continued R&D can help accelerate the commercialization process in the long run.

SWOT Analysis

Strengths: Volumetric displays provide true 360-degree 3D visualization without needing special glasses. This immersive visualization is a major strength as it can enable life-like holographic communication and meetings. The display technology is also interactive as the imagery responds to user touch and gestures.

Weaknesses: Currently, volumetric displays suffer from low resolution, limited color capabilities and small display volumes. Complex moving parts and acoustic wave projection methods also result in physical size constraints. High power consumption and costs of production pose significant challenges for mass adoption currently.

Opportunities: Growth opportunities exist in applications such as medical imaging, flight simulation, advertising & marketing, and entertainment. Holographic TVs and computers could be disruptive if costs reduce substantially. 5G networks and mobile augmented reality will further drive the need for multi-dimensional visualization. Continued R&D in photonic/acoustic components can make these systems compact and affordable in the long run.

Threats: Stiff competition exists from alternative 3D display technologies such as VR, AR and glasses-free 3D. Issues regarding data security, privacy and content piracy also threaten commercial proliferation. Regulatory uncertainty regarding health effects of high-frequency ultrasound waves may curb fast adoption.

Geographical regions:

North America currently accounts for the largest share of around 35% of the global volumetric display market in terms of value. This is due to considerable investments in the region from tech giants as well as governmentfunding towards R&D in the area of holographics and mixed reality systems. Europe is the second largest region with major players based in various countries. The Asia Pacific region is anticipated to be the fastest growing market during the forecast period. This is due to expanding manufacturing capabilities of components, growing electronics industry and adoption of AR/VR/3D visualization in industries across China, Japan and South Korea.

Geographical regions:

The Asia Pacific region, especially countries like China, is expected to witness the fastest growth in the volumetric display market over the forecast period from 2024 to 2031. This is attributed to increasing industrial and commercial applications of 3D visualization, growing demand for holograms in entertainment, and strong manufacturing base for electronic components in the region. China is at the forefront of innovation with holographic technologies and is anticipated to heavily invest in both development as well as adoption of new immersive display solutions. Other Asian countries like Japan, South Korea are also

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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it