According to our latest market study on “3D Display Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Technology, Application, and Geography,” the market is expected to grow from US$ 575.09 million in 2021 to reach US$ 3,290.83 million by 2028; it is estimated to register a CAGR of 28.3% from 2021 to 2028.
The global 3D display market is segmented into five major regions – North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. In 2020, North America led the market with a substantial revenue share, followed by APAC and Europe. The trend of watching 3D movies without glasses is likely to drive the 3D display market in North America in the near future. Apart from movies and games, laptops and handhelds are also likely to be 3D-capable in North America during the forecast period. The autostereoscopic 3D display, which eradicates the need for glasses to view 3D images, is expected to have a substantial impact on the market. Moreover, the presence of large market players and increasing investment for product advancement in the region are among the factors driving the market growth. For instance, in September 2021, LG Electronics USA (LG) launched an immersive 3D multimedia series to commemorate the start of the school year, which debuted the company’s giant high-definition digital billboard above New York City’s historic Times Square.
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Consumer electronics, automotive, medical, military & defense, industrial, media & entertainment, gaming are among the potential markets for 3D displays. Additionally, growth in entertainment and gaming industries positively impacted the 3D display market as the number of cinema screens has increased significantly, i.e., ~125,000 in 2021 cinema screens have begun operating on a digital platform globally. Moreover, the rising adoption of augmented reality in various medical applications to improve the vision capabilities of surgeons, decrease operation time, and pre-operative planning is creating opportunities for the 3D display market.
For instance, in May 2020, Ocutrx Vision Technologies, LLC has announced the development of its new surgery visualization theater, “Ocutrx OR-Bot,” which is equipped with a 3D 8K display monitor to operate surgical tools. However, the continuous investments especially in autostereoscopic 3D display solutions and a growing number of partnerships between market players and end-users to develop advanced holographic and volumetric 3D display systems for a wide range of applications are among the factors driving the growth of the global 3D display market.
Impact of COVID-19 Pandemic on 3D Display Market
The COVID-19 crisis affected the industries worldwide and the global economy took the worst hit in 2020 and is likely to continue in 2021. The outbreak created significant disruptions in primary industries such as automotive, retail, and consumer electronics. The sharp decline in the electronics and manufacturing industries is impacting the growth of the global 3D display market. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. North America is home to a large number of manufacturing and technology companies, and thus the impact of the COVID-19 outbreak is anticipated to be quite severe till mid-2021. The region is expecting market recovery and economic improvement with the COVID-19 vaccination drives.
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The 3D display market is segmented into type, technology, application, and geography. Based on type, the market is segmented into the stereoscopic 3D display and autostereoscopic 3D display. In 2021, the autostereoscopic 3D display segment led the 3D display market and accounted for the largest market share. Based on technology, the market is categorized into digital light processing, organic light-emitting diode, and a light-emitting diode. In 2021, the digital light processing segment led the 3D display market and accounted for the largest market share. Based on application, the market is segmented into consumer electronics, automotive, medical, advertisement, retail, military & defense, and others. In 2021, the consumer electronics segment led the 3D display market and accounted for the largest market share.
Growing Number of Industry Partnerships to Boost Market Growth
The current key application areas of 3D displays are the marketing and advertising sectors. Medical, automotive, and defense are expected to be among the potential areas for 3D displays. The prospective application areas of 3D display technologies could be unprecedented in number depending on the positive growth and technology development in the market.
The List of Companies – 3D Display Market
AU OPTRONICS CORP.; Innolux Corporation; LG Electronics; Mitsubishi Electric Corporation; Panasonic Corporation; Samsung Group; Sharp Corporation; Looking Glass Factory Inc.; Light Field Lab, Inc.; Leia Inc.; Sony Corporation; Toshiba Corporation; and Fujifilm Corporation are among the major companies operating in the 3D display market.
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Players operating in the 3D display market are mainly focused on the development of advanced and efficient products.
In April 2021, AUO launched stunning series of ALED Displays at Touch Taiwan 2021 with world-leading micro-LED technology and applications on showcase.
In September 2021, Samsung’s stretchable display can turn 2D content into moving 3D scenes.
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