Volumetric Display Market by Display Types (Static-volume and Swept-volume), End Uses (Medical, Aerospace & Defense, Entertainment, Automotive, Education & Training, and Media, Communication, & Entertainment), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
The Global Volumetric Display Market size was valued at USD 618.17 Million in 2022 and is expected to surpass USD 8.2 Billion by 2031, expanding at a CAGR of 33.28% during the forecast period, 2023–2031. The growth of the market is attributed to the technological advancements in three dimensions (3D) display technology that delivers enhanced display resolutions and features.
Volumetric display is a graphic display device that forms a visual representation of an object in 3D. The display offers unique properties such as 360-degree viewing, converge agreement and accommodation cues, and their inherent 3D format that enable the user to experience advanced interface techniques. The first volumetric display device was developed in 1912 and was successfully commercialized in 1990s. With the recent technological advancements and rising production of innovative products, the volumetric display device are increasingly adopted across many commercial sectors such as medical, aerospace & defense, automotive, and industrial.
Recent innovation and technological development in laser, optics, and electronics that are adopted widely in the manufacturing of volumetric displays plays an important for boosting the product demand. This technological development enables multiple users to look at the image or object from different perspectives at the same time without any special eyewear gadgets.
Advanced features of volumetric 3D display such as visualization of holographic aerial images in free space, 360° viewing angle, and autostereoscopic capabilities are encouraging the adoption of these devices. Additionally, growing consumers’ preference for enhanced gaming experience has led to rising adoption of volumetric displays that deliver a 360° view of 3D gaming without wearing any device or equipment on gamer’s body. Furthermore, key market players such as Voxon Photonics are focusing on introduction of innovative 3D displays.
Volumetric Display Market Drivers, Restraints, Trends, and Opportunities
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Growing investments by key market players to produce innovative displays owing to the rapid increase in demand from a large consumer base globally are expected to boost the market growth during the forecast period.
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Increasing adoption of the display technology in various sectors especially the defense industry for various combat awareness and battlefield monitoring applications is expected to spur the market growth.
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Factors such as better resolution, enhanced viewing experience through real-time 3D experience, and number of visual effects are key aspects for wide adoption in the gaming industry. The factor is projected to boost the market growth during the forecast period.
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Growing adoption of volumetric display across industries including aerospace, healthcare, and entertainment for various applications such as research and development, media marketing, and patient surgery are projected to boost the product demand.
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High-cost price of devices and complex assembly of components such as projector, motor, sensor, and laser systems are key challenges expected to hamper the market growth during the forecast period.
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COVID-19 pandemic has adversely affected the manufacturing industries that impacted to restrict the production of volumetric display. This is projected to hinder the market expansion.
Scope of Volumetric Display Market Report
The report on the global volumetric display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Volumetric Display Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Display Types (Static-volume and Swept-volume) and End Uses (Medical, Aerospace & Defense, Entertainment, Automotive, Education & Training, and Media, Communication, & Entertainment) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Lightspace Technologies Inc., Voxon Photonics Pty Ltd., The Coretec Group Inc. and Holoxica Ltd. |
Global Volumetric Display Market Segment Insights
Static-volume segment expected to represent a considerable share
On the basis of display types, the market is bifurcated into static-volume and swept-volume. The static volume segment is expected to represent a market share of more than 45% during the forecast period. Rising demand for the display type owing to the availability of various categories of products such as gas medium up-conversion, solid-state up-conversion, and crystal cube static displays. This provides enhanced visibility during medical surgeries and also helps in quick security checks at airports.
On the other hand, the swept volume segment is expected to expand at a CAGR of over 29% during the forecast period. The significant focus of market players on developing advanced swept volume displays is anticipated to drive the segment growth. For instance, in June 2019, Voxon Photonics announced the launch ‘Z3D’, an innovative 3D Arcade Machine based on swept volume technology that delivers enhanced gaming experience with ultra-high digital projection device. Moreover, it also supports multi-user interaction for gaming and many other applications such as video calling.
Medical segment is projected to constitute a large market share
Based on end uses, the market is divided into medical, aerospace & defense, entertainment, automotive, education & training, and media, communication, & entertainment. The medical segment is projected to constitute a market share of more than 25% during the forecast period. Wide adoption of the volumetric display for medical imaging applications owing to its visual enhancement sensors during surgeries is a key driving factor for the segment growth. It generates a hyper-realistic experience for visualization of medical images during surgeries.
Moreover, it is designed to build a 3D image from stored MRI data in the system, which helps doctors to view complete anatomy from any angle with zooming features. However, the entertainment segment is projected to expand at a healthy CAGR during the forecast period. Increasing demand for the product for video calling and virtual meeting purpose are expected to boost the segment growth during the forecast period. Additionally, rising adoption of high graphics gaming technologies among youngsters is projected to spur the segment growth during the forecast period.
North America to account for a significant market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a significant market share of more than 30% during the forecast period. Increasing penetration of 3D volumetric displays in the oil and gas industry for visualization of 3D fluid flow in real-time is the primary factors driving the market growth in this region.
Increasing adoption of innovative technology such as auto-stereoscopic display in the healthcare sector in the region is another key driving factor for the regional market growth. Moreover, a rapid increase in the U.S. defense spending to deploy advanced technologies for military simulation and training applications is projected to influence the market growth in the region. For instance, U.S government planned a budget of USD 737.5 billion for the defense sector in the year 2020.
On the other hand, the market in Asia Pacific is projected to expand at an impressive CAGR during the forecast period. Growing consumer inclination towards high-tech gaming solutions in countries such as Japan, China, and Australia are driving the market growth in this region. Furthermore, rapidly growing consumer electronics industry owing to rise in foreign direct investments (FDI) in the region is a key aspect for regional market growth. Low cost of production and mass manufacturing facilities in countries such as China, India, and Japan are expected to boost the growth of the regional market.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Volumetric Display Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Volumetric Display Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Volumetric Display Market - Supply Chain
4.5. Global Volumetric Display Market Forecast
4.5.1. Volumetric Display Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Volumetric Display Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Volumetric Display Market Absolute $ Opportunity
5. Global Volumetric Display Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Volumetric Display Market Size and Volume Forecast by End Users
5.3.1. Medical
5.3.2. Aerospace & Defense
5.3.3. Entertainment
5.3.4. Automotive
5.3.5. Education & Training
5.3.6. Media, Communication, & Entertainment
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Volumetric Display Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Volumetric Display Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Volumetric Display Demand Share Forecast, 2019-2026
7. North America Volumetric Display Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Volumetric Display Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Volumetric Display Market Size and Volume Forecast by End Users
7.4.1. Medical
7.4.2. Aerospace & Defense
7.4.3. Entertainment
7.4.4. Automotive
7.4.5. Education & Training
7.4.6. Media, Communication, & Entertainment
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Volumetric Display Demand Share Forecast, 2019-2026
8. Latin America Volumetric Display Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Volumetric Display Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Volumetric Display Market Size and Volume Forecast by End Users
8.4.1. Medical
8.4.2. Aerospace & Defense
8.4.3. Entertainment
8.4.4. Automotive
8.4.5. Education & Training
8.4.6. Media, Communication, & Entertainment
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Volumetric Display Demand Share Forecast, 2019-2026
9. Europe Volumetric Display Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Volumetric Display Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Volumetric Display Market Size and Volume Forecast by End Users
9.4.1. Medical
9.4.2. Aerospace & Defense
9.4.3. Entertainment
9.4.4. Automotive
9.4.5. Education & Training
9.4.6. Media, Communication, & Entertainment
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Volumetric Display Demand Share Forecast, 2019-2026
10. Asia Pacific Volumetric Display Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Volumetric Display Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Volumetric Display Market Size and Volume Forecast by End Users
10.4.1. Medical
10.4.2. Aerospace & Defense
10.4.3. Entertainment
10.4.4. Automotive
10.4.5. Education & Training
10.4.6. Media, Communication, & Entertainment
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Volumetric Display Demand Share Forecast, 2019-2026
11. Middle East & Africa Volumetric Display Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Volumetric Display Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Volumetric Display Market Size and Volume Forecast by End Users
11.4.1. Medical
11.4.2. Aerospace & Defense
11.4.3. Entertainment
11.4.4. Automotive
11.4.5. Education & Training
11.4.6. Media, Communication, & Entertainment
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Volumetric Display Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Volumetric Display Market: Market Share Analysis
12.2. Volumetric Display Distributors and Customers
12.3. Volumetric Display Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Lightspace Technologies Inc.
12.4.2. Voxon Photonics Pty Ltd.
12.4.3. The Coretec Group Inc.
12.4.4. Holoxica Ltd.