Torrance, California, USA -As per MarkWide Research’s latest study, Holographic Display Market is anticipated to expand at a compound annual growth rate (CAGR) of 28.3% from 2022 to 2030.
A holographic display is becoming increasingly common in the home and the office. In a 3D format, they enable users to see what is happening around them in a more detailed manner.
In the market, holographic displays are becoming more and more popular as they become more sophisticated. There are many benefits associated with them, including the ability to easily display information on a screen that is difficult to see on a normal screen. With the use of holographic displays, users can experience a better user experience, increased interaction and security, and reduced costs.
Currently, holographic displays can be used in many practical applications in many sectors, such as engineering, medical technology, pharmaceuticals, food and beverages, telecommunications, automotive, and entertainment, among others. Undoubtedly, these displays would be highly beneficial for products, processes, and procedures that require a lot of explanation and innovation for them to be profitable.
Market growth for Holographic displays
As technology advances, there is no doubt that holographic displays will become more prevalent in almost every product and service in the future. It is still in the early stages of development, but technology is already impacting society and businesses, even though it is still in its infancy. One of the main reasons behind this phenomenon is that keyword growth is one of the main reasons.
It is believed that the surge in demand for holographic displays for medical applications, such as endoscopy and X-ray, will drive the growth of the holographic display industry over the forecast period due to the growth in demand for these displays. Additionally, due to the high adoption rate of holographic displays for advertising and events, the holographic display market is expected to grow rapidly over the next few years. Additionally, holographic displays can be customized according to industry-specific needs, which is an opportunity for the market to grow in the future. It is estimated that in the future, the market will experience gradual growth due to these factors.
In the forecast period, holographic displays in high-end cars are expected to offer a lucrative growth opportunity for the market for holographic displays. Nevertheless, the high cost of displays and the lack of awareness about the benefits of holographic displays act as major restraints on market growth.
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Holographic display market segment overview
Various segments make up the holographic display market, including components, technologies, dimensions, end uses, industry verticals, and regions. Depending on the component, it can be divided into the light modulator, the scanner, the lens, the digital micrometer, and the monitor. There is no doubt that the lens segment will continue to dominate the market for the next few years, based on revenue figures in 2020 and throughout the forecast period. The market’s electro-holographic, touchable, laser, and piston segments can be separated based on their technology. During the forecast period, a significant share of the market is expected to be captured by the electro-holographic segment, which dominated the market in terms of revenue in 2020.
In terms of dimension, the market can be divided into three categories: 2D, 3D, and 4D. It is expected that the market share for the 3D segment will grow at a high CAGR from 2021 to 2030, with its market share being the highest in 2020. Several types of end users make up the market. These include a camera, digital signage, medical imaging, smart TV, laptops, and others. Among the sub-segments within the medical imaging segment, CT (computed tomography) & MRI (magnetic resonance imaging), and UT (ultrasound testing) are the most well-known. CT & MRI accounted for a large share of the market in 2020, while UT accounted for a large share from 2021 to 2030, and this segment is expected to grow at a high CAGR from 2021 to 2030. The market is classified according to its industry vertical into consumer electronics, retail, medical, industrial, defense, and others.
Factors affecting the growth of the holographic display market
Several factors are involved in this, including a surge in demand for holographic displays in the medical industry and a higher adoption rate for holographic displays in advertising and events. Despite this, the high costs of displays and a lack of awareness regarding holographic displays are hindering the market’s growth. It has been predicted that holographic displays will have lucrative opportunities in the automotive industry during the forecast period.
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Holographic Display Market Major Players Covered:
- HoloTech Switzerland AG (Switzerland)
- Holoxica Ltd (U.K.)
- HYPERVSN (U.K.)
- Leia Display System (Poland)
- MDH Hologram Ltd. (U.K.)
- Provision Holdings Inc. (U.S.)
- Qualcomm (U.S.)
- Real fiction (Sweden)
- Real view Imaging Ltd. (Israel)
- ViewSonic Corporation (U.S.)
Holographic Display Market Segmentation Analysis:
- Light Modulator
- Digital Micrometer
- Digital Signage
- Medical Imaging
- CT & MRI
- Smart T.V.
By Industry Vertical
- Consumer Electronics
Holographic Display Market Geographical Segmentation Includes:
- North America
- Asia Pacific
- South America
- The Middle East & Africa
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