According to our new research study on “3D Display Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Stereoscopic 3D Display and Autostereoscopic 3D Display), Technology (Digital Light Processing, Organic Light Emitting Diode, and Light Emitting Diode), and Application (Consumer Electronics, Automotive, Medical, Advertising, Retail, Military and Defense, and Others)”, published by The Insight Partners.
The 3D display market was valued at 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.
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3D Display Market: Competitive Landscape and Key Developments
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 key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global 3D display market and its ecosystem.
In April 2021, AUO launched a 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.
There is a heavy adoption of holographic 3D displays in the media and entertainment field. The holographic display was first used in 2012 at the Coachella Valley Music & Arts Festival, where a hologram of Tupac Shakur—an American rapper—was projected on the stage for a 3D music performance. Later, holograms of Michael Jackson, BTS Suga, and several other artists were recreated in musical concerts. Thus, due to the heavy adoption of holographic displays across the world, the 3D display market is likely to accelerate in the coming years. Moreover, an increase in the demand for 3D visualization in the entertainment, gaming, defense, and medical industries drives market growth. The rapid development of smartphone models with a curved display, the proliferation of gaming industry worldwide, and incorporation of AR/VR in consumer electronics products are anticipated to bring commercial opportunities to 3D augmented reality (AR) head-mounted displays in the coming years. Besides, the mounting investments in advanced technologies in automotive to provide better efficiency and safety are also likely to surge the adoption of 3D displays.
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In 2020, the COVID-19 outbreak negatively impacted the growth rate of the global 3D display market due to business shutdowns and a decline in demand from end-users, especially in the retail and advertising sectors. The cancellation of events, exhibitions, and restrictions on mass gathering events are among the factors that affected the demand for 3D displays worldwide. The increase in the number of COVID-19 confirmed cases and rising reported deaths in the country have affected manufacturing and sales of materials associated with 3D displays. The factory and business shutdowns across the US, Canada, and Mexico negatively impacted the adoption of 3D displays. The world is expecting market recovery and economic improvement with COVID-19 vaccination drives. However, companies are prone to risks with the market uncertainties from the tough business environment associated with the unfavorable foreign exchange rates, raw material price, and logistics costs.
Growing Number of Industry Partnerships to Propel Market Growth:
The present 3D display market is in its nascent stages of a growth cycle, and companies operating in this market are investing heavily in R&D to bring successful 3D display systems to the commercial market. The current key application areas of 3D displays are the marketing and advertising sectors. Medical, automotive, and defense are expected to be some of the largest growth potential areas for 3D displays. The prospective application areas of 3D display technologies could be unprecedented depending on the positive growth and technology development in the market. For instance, in 2020, Continental announced the launch of its volume-production display featuring an autostereoscopic 3D technology in its HMC Genesis GV80 variant.
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3D Display Market: Holographic 3D Display Systems to Drive Market Growth
Holographic display technology generates arbitrary wavefronts that can be considered as an ultimate 3D experience for end-users. In comparison to 2D image-based stereoscopic displays that are used to create 3D perception, which can create issues such as headache, visual discomfort, eyestrain, and fatigue in some users, the holographic 3D displays are quite comfortable for users who want to experience realistic 3D. However, the requirement of high volume for these displays makes them difficult to use in many potential applications. Thus, holographic 3D displays that use a 2D surface by exploiting the wave nature of light to develop 3D images are considered a more viable option for potential 3D display applications in fields such as marketing, advertising, medical, automotive, education, entertainment, gaming, retail, hospitality, events, sports, and digital signage.
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