Volumetric Display Market Analysis Report By Display Type, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global volumetric display market size was accounted for USD 135.5 million, in 2018 and is projected to grow at a CAGR of 28.5% over the forecasted period, 2019 to 2025. Technological advancement with continuous innovation with a focus on enhancing resolutions in 3D displays is expected to propel the demand for the product. Continuous development in optics, lasers are enabling users to view in a better way and without any eyewear gadgets.

Volumetric display technology has huge demand from the defense industry, especially in countries such as Japan, U.S., and U.K. Additionally, the government authorities in these countries invest heavily in advanced technologies to bolster defense capabilities. For example, in 2020, the U.S. has proposed a defense budget of around USD 738.0 billion, which is 3% higher than last year.

Moreover, the consumer is now shifting towards a volumetric display from 3D displays. Benefits such as 360° angle view, holographic aerial view, depth cue with motion, and autostereoscopic capabilities. In addition, volumetric displays offer an improved viewing experience and high resolution with visual effects. These factors are anticipated to positively impact the market growth in the coming few years. Furthermore, growing display application in the healthcare, aerospace & defense, and media industry is projected to proliferate the market growth.

In 3D gaming, these displays provide a 360° view without any additional device. Moreover, companies like Voxon Photonics focus on launching 3D displays specifically for the gaming experience. Thus, the rising consumer demand for these applications is expected to propel the growth of the market.

Volumetric displays are designed with components like sensors, projectors, and laser systems. Due to the complex integration, these sensors are expensive. This factor is anticipated to restrain the market growth.

Display Type Insights

Based on the type of display, the volumetric display market is divided into static volume and swept volume. In 2018, the static volume display segment held the highest share of over 50.0% in the overall market. Consumer prefers static volume displays owing to their easy availability. These displays help in tracking security measures at airports and medical surgery operations.

The Swept volume display type segment is projected to grow at a CAGR of around 29.9% from 2019 to 2025. This growth is constituted by the growing adoption of advanced technologies in sensor solutions. For instance, in 2019, Voxon Photonics has launched a 3D machine called Z3D using swept volume display technology for an improved gaming experience. It also enables applications like video calling for better gaming purposes.

End-use Insights

The medical segment has led the market with a market share of more than 30.0%, in 2018. It is projected to propel at the fastest CAGR over the forecasted period. These sensor solutions are highly used for medical imaging solutions, especially in surgeries. Moreover, it also helps the doctor by capturing 3D images using MRI data with features such as zoom with different angles.

In addition, these displays are widely used in media marketing and product advertisements for engaging with people. Moreover, the growing innovations such as 5G technology are projected to have a positive impact on the entertainment & media industry. The increasing product demand for virtual meetings and video calling is also supporting the market growth.

Regional Insights

In 2018, North America held the market with the highest market share of over 35.0% in the overall market. It is expected to grow at a CAGR of around 30.4% from 2019 to 2025. The growing adoption of 3D volumetric type displays especially in the oil & gas sector for better fluid flow tracking is a key factor proliferating the demand for the product. Similarly, autostereoscopic displays have high demand from the healthcare sector for medical application purposes. In addition, increasing spending by the U.S. government on the defense industry is also projected to support market growth.

Asia Pacific is projected to grow at a healthy CAGR over the forecasted period. Shifting consumer preference for better gaming experience across the countries such as China, Australia, and Japan. Moreover, the growing foreign investment by the global players in the region is spurring market growth. Furthermore, low production cost, and mass manufacturing units across Japan and China are also anticipated to bolster the demand for volumetric displays.

Impact of COVID-19

The spread of novel coronavirus is expected to limit the growth of 3D volumetric displays. However, several volumetric display manufacturers that use photonic technology, and infrared imaging & medical equipment manufacturers companies have foreseen an increase in their sales. This growth is contributed to the growing demand for testing equipment in thermal screening especially to fight against coronavirus and other medical applications.

However, major factors that are impacting the supply chain of volumetric display manufacturers include the closedown of international borders and shutdown in Chinese factories, wherein a large number of optical, laser components are manufactured.

Volumetric Display Market Share Insights

Leading players in the market include Voxon Photonics Pty Ltd.; Lightspace Technologies Inc.; HolografikaKft; Leia, Inc; Holoxica Ltd; and The Coretec Group Inc.

The companies in the market invest heavily in research and development, new product development, and collaborations to remain competent in the market. For example, Voxon Photonics has tested the volumetric display with video calls using a 5G network.

Similarly, in 2018, Lightspace Technologies has received funds from ASHansaMatrix to expand their new product developments through R & D activities.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global volumetric display market report based on display type, end-use, and region:

• Display Type Outlook (Revenue, USD Million, 2015 - 2025)
    • Static-volume display
    • Swept-volume display

• End-use Outlook (Revenue, USD Million, 2015 - 2025)
    • Medical
    • Aerospace & Defense
    • Automotive
    • Media, Communication, & Entertainment
    • Education & Training
    • Others (Oil & Gas, Mining, etc.)

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia
    • Rest of the World