The volumetric display Market is expected to grow at a CAGR of 30% over the forecast period (2020 - 2025). Volumetric displays create a luminous image point in space resembling a three-dimensional image of an object in thin air visible from any direction and angle.
- The technological advancements in the fields of 3D displays are one of the important factors contributing to the growth of the volumetric display market over the forecast period.
- For instance, the research team from Utsunomiya University’s Kumagai Yukinobu campus showed their volumetric display that created a 3D stereoscopic image by using bubbles in a transparent liquid that were then colored with laser light.
- By investing heavily in the research and development activities by the players in the market and by various educational institutions has allowed them to further augment as well as bring about innovations in the technology thereby driving the demand for such displays in the market.
- In January 2018, researchers from the University of Rochester created a small butterfly appearing to dance above a finger which can be seen no matter where the viewer is standing.
- However, high costs and complex manufacturing procedures are some of the factors that could hinder the growth of the volumetric displays market over the forecast period.
Scope of the Report
Volumetric displays allow the user to create a visual representation of an object into three physical dimensions providing the viewer with a 360-degree spherical viewing angle. This report segments the market by type, end-user industry, and geography.
Key Market Trends
Healthcare Sector is Expected to Hold a Significant Share
- The volumetric display has a potential opportunity to be exploited in the areas of medical imaging which is currently used on a large scale for the detection of fatal diseases such as cancer amongst others is expected to boost the market over the forecast period.
- 3D Volumetric displays could provide greater visibility during operations. With MRIs and CT scans being incredibly powerful diagnostic tools rich in 3D data, the 3D volumetric display can provide volume rendering of the surface and the interior of any human organ, thereby increasing the effectiveness of real-time imaging systems for doctors and surgeons. Therefore MRIs and CT scan are proving to be a great potential market for such displays.
- Some of the prominent players in the market are developing such displays that could help the doctors and the surgeons to interact with the images in real-time thereby fueling the growth for the volumetric displays over the forecast period.
- Voxon's 3D Volumetric technology allows the user to bring the content to life thereby enabling them to visualize, communicate and learn. It also the user or doctors to explore and manipulate any medical data (including MRI) in real-time, zooming for getting a closer look, displaying cross sections at any angle amongst others.
North America to Hold the Largest Market Share
- The volumetric display allows the user to view the object from any angle, it can be instrumental for the military to better understand the geography and plan the strategies accordingly.
- With the increased spending on the aerospace and defense sector by the government in the region is expected to further the growth of the volumetric display market over the forecast period.
- For instance, in 2017, in 2017, the United States military expenditure amounted to 3.15% of the total gross domestic product
- Some of the major players in the region coupled with the educational institutes through research and development activities are continually augmenting their efforts to further the technology. This is expected to boost the volumetric display market in the region over the forecast period.
- For instance, researchers from the Brigham Young University in Utah have developed a breakthrough by creating a free-space volumetric display. The display basically being a 3D printer, prints an object using particles in space resulting in floating 3D prints which can be viewed from any direction.
- Similarly, Cortec Group Inc. has developed Coretec CSpace a patented glasses-free 3D static volumetric display technology that will deliver 800 million voxels in a full-color desktop format having a 360-degree viewing angle.
The competitive rivalry between the players in the region remains high owing to the presence of some key players such as Voxon photonics, Looking Glass Factory amongst others. However, the market remains Fragmented. The ability of the players in the market to innovate their offerings has allowed them to gain a competitive advantage over others. Through strategic partnerships, mergers & acquisitions, and research and developments the companies in the market are able to gain a strong foothold.
- December 2018 - backed by European Investment Bank (EIB), SIA Lightspace an AS HansaMatrix associated company will receive USD 5.5 million financings from AS HansaMatrix with the purpose of acquiring technological equipment, research and development of Lightspace real-time volumetric 3D image display technology as well as further development of fabrication and industrialization process of key-enabling photonics elements.
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