Volumetric display allows the viewer to perceive 3D imagery without glasses or head gear and is experiencing growth by latest advancements in light field technologies. Volumetric display creates moving 3D images by manipulating particles or modulating lasers within a contained space and has applications in various industries like gaming, medical visualization and military. The products allow more immersive and realistic 3D projections and can precisely display holograms and spatial data.
The Global Volumetric Display Market is estimated to be valued at US$ 360.3 million 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. The products offered by these companies allow more immersive 3D projections without requiring additional gear. There is growing demand from industries like medical, defense and entertainment for applications like complex surgeries, mission simulations, architectural modeling and gaming. Many companies are also expanding globally to tap the opportunities in developing countries.
Market Key Trends
One of the key trends witnessing in the volumetric display market is the adoption of light field technology which is enhancing the 3D projection capabilities. The light field displays recreate the true volumetric perception of 3D objects by emitting arrays of light rays that can be seen simultaneously from different perspectives and angles without the need for glasses. This has increased the immersive experience and applications in design modeling, medical training, defense mapping etc. The advancements in this technology is expected to boost the demand for volumetric displays over the forecast period.
Porter’s Analysis
Threat of new entrants: High capital requirement acts as a barrier for new companies to enter this niche market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute technologies like OLED and LCD.
Bargaining power of suppliers: Suppliers have high bargaining power due to their differentiated and proprietary technologies required for volumetric displays.
Threat of new substitutes: Emerging holographic and augmented reality technologies pose potential threat to volumetric displays in future.
Competitive rivalry: Intense competition exists among existing players to develop improved and affordable volumetric display solutions.
Geographical Regions
North America currently holds the largest share of the volumetric display market in terms of value due to high adoption of advanced display technologies by industries in the US and Canada.
Asia Pacific is expected to be the fastest growing regional market during the forecast period owing to technology advancements and government initiatives to promote R&D activities in countries like China, Japan, South Korea and India. Chinese companies are aggressively investing in volumetric display startups to gain foothold in this emerging technology.
