Holographic Display Market Outlook 2031:
The global holographic display market size was valued at USD 1.88 Billion in 2022 and is projected to reach USD 18.73 Billion by 2031, expanding at a CAGR of 29.1% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing demand for holographic displays in advertisement, entertainment, events and exhibitions. Moreover, rapid growth of 3D imaging in healthcare sector is propelling the market growth.
The phenomenon of light diffraction to create a virtual 3D image of an object is called holographic display. Increasing adoption of this type of display in emerging applications of medical imaging is expected to propel the market growth. Rising demand for consumer electronics devices such as laptops, smartphones tablets and PCs is expected to drive the growth of market.
Growing demand for this display in various industrial applications such as advertisements, medical, defense, and space is positively influencing the market growth. The above-mentioned applications can create lucrative opportunities for the market in the coming years. According to the Display Week Organization, every second there is addition of 11 Internet users and it is projected to grow by 32% by 2022. Growing awareness of digital holographic displays has become possible due to the rise in the Internet usage.
Holographic Display Market Trends, Drivers, Restraints, and Opportunities:
- Increasing consumers’ spending on consumer electronic devices such as smartphones, PCs, laptops ,and tablets is anticipated to grow the sales of holographic displays during the forecast period.
- Increasing use of holographic displays in commercial applications can accelerate the market growth during the forecast period.
- High cost of assembly, technology and poor projection are factors that can restrain the market growth. However, the development in the manufacturing and rapid urbanization is anticipated to reduce the cost of assembling the holographic display devices.
- Rising demand for advanced medical imaging is projected to propel the market growth.
Scope of the Holographic Display Market Report
The report on the global holographic display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Holographic Display Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product (Digital Signage, Cameras, Smart Watches, Smart Glasses, Smartphones, Medical Imaging Scanners, Kiosks, Ultrasound, Smart TVs/holo-TVs, Computed Topography (CT), and Magnetic Resonance Imaging (MRI)), Technology (Electro-holographic/Semi-transparent Displays, Laser Displays, Touchable Displays, Piston-based Displays, and Touchable Displays), and Application (Commercial, Industrial, Consumer Electronics, Entertainment, Defense, Medical, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
EON Reality, Musion Das Hologram Ltd., Realfiction, AV Concepts, Konica Minolta Inc., Qualcomm, Holoxica Ltd., Zebra Imaging, Provision Interactive Technologies Inc., RealView Imaging Ltd., and ViewSonic Corp.
Holographic Display Market Segment Insights
Smart TVs/holo-Tvs segment to expand at high CAGR
On the basis of products, the market is divided into digital signage, cameras, smart watches, smart glasses, smartphones, medical imaging scanners, kiosks, ultrasound, smart TVs/holo-TVs, computed topography (CT), and magnetic resonance imaging (MRI).
In 2020, the Smart Tvs/holo-TVs segment accounted for a large market share and is anticipated to exhibit a high CAGR during the forecast period. Increasing penetration of Internet and over-the-top (OTT) streaming platforms are propelling the growth of the market segment. On the other hand, the digital signage segment is anticipated to grow at a steady rate owing to increasing usage of digital signage in the media and advertisement industry.
Electro-holographic/Semi-transparent segment to dominate the market
Based on technology, the global holographic display market is segregated into electro-holographic/semi-transparent displays, laser displays, touchable displays, piston-based displays, and touchable displays. In 2020, the electro-holographic/semi-transparent segment accounted for a significant market share and is anticipated to dominate during the forecast period.
Enhancing display of devices and advanced technologies are contributing to the growth of holographic display market. Electro-holography is utilized to reconstruct and record 3D images. This technology not only projects the hologram in video form but enables the addition of hologram frame in real-time.
The touchable displays segment is anticipated to grow at a robust rate during the forecast period. In December 2014, the department of computer science at Bristol University created a touchable holographic display by using ultrasound to feel and see 3D shapes. This technology helps to sense tumors using haptic feedback and analyzing CT scans, which can boost its penetration in the medical science.
Medical segment to hold a largest market share
In terms of applications, the global holographic display market is divided into commercial, industrial, consumer electronics, entertainment, defense, medical, and others. Growing requirement of precision in surgeries has increased the use of holographic displays in medical imaging.
Currently, both 3D and 4D technologies are used widely in medical imaging. High demand and technological advancements in medical equipment are expected to spur the growth of the market segment.
The market in Asia Pacific to exhibit a high CAGR
Based on regions, the market is classified as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The early adoption of latest technology such as Internet of Things (IoT) and artificial intelligence (AI) has resulted in the growth of the market in North America.
Rising use of holographic display technology in various applications such as medical, commercial, and industrial is fostering the regional market growth. On the other hand, the market in Asia Pacific is anticipated to exhibit a high CAGR owing to increasing technological advancements owing to the rising investment in R&D activities in emerging economies such as India and China.
The global holographic display market has been segmented on the basis of
- Digital Signage
- Smart Watches
- Smart Glasses
- Medical Imaging Scanners
- Smart TVs/holo-TVs
- Computed Topography (CT)
- Magnetic Resonance Imaging (MRI))
- Electro-holographic/Semi-transparent Displays
- Laser Displays
- Touchable Displays
- Piston-based Displays
- Consumer Electronics
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- EON Reality
- Musion Das Hologram Ltd
- AV Concepts
- Konica Minolta Inc.
- Holoxica Ltd
- Zebra Imaging
- Provision Interactive Technologies Inc.
- RealView Imaging Ltd.
- ViewSonic Corp.
Some major players competing in the global holographic display market include EON Reality, Musion Das Hologram Ltd., Realfiction, AV Concepts, Konica Minolta Inc., Qualcomm, Holoxica Ltd., Zebra Imaging, Provision Interactive Technologies Inc., RealView Imaging Ltd., and ViewSonic Corp.
The key market players are engaging in numerous strategies such as partnerships, joint ventures, mergers, and acquisitions.
In April 2019, RealView Imaging introduced world's first medical holographic system named HOLOSCOPE-I. The system was used for valve procedure, which was claimed to provide 3D holograms in air.