According to data from the market research firm FMI, the volumetric display market is expected to reach US$ 284.5 million by 2023 and US$ 2 billion by 2033 growing at a CAGR of 21.4%. A continuous stream of technological advancements and innovative solutions will continue to drive market growth during the forecast period, resulting in improved resolutions and features in 3D display technologies.
Growing demand for 3D visualization and increased adoption of holographic displays are major drivers of market revenue growth. As medical imaging, entertainment, learning, and advertising applications continue to develop, the market’s revenue is expected to grow.
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A new generation of volumetric displays has been developed through advances in lasers, optics, and electronics, allowing the same image to be viewed simultaneously by multiple viewers without the need for special glasses. A group of researchers from Utsunomiya University’s Kumagai Yukinobu campus presented an application that utilized bubbles in a transparent liquid to create 3D stereoscopic images.
Volumetric displays have grown in popularity due to their expanding range of applications. 3D visualization displays have become increasingly popular as more industries recognize their potential in the market. With volumetric displays, medical imaging, in particular, can be better understood and manipulated, providing advanced anatomical information.
Key Takeaways
- According to estimates, the static-volume display market is expected to accelerate at a CAGR of 21.2% between 2023 and 2033.
- Japan’s demand for volumetric display innovations is expected to grow at a CAGR of 20.8% by 2033.
- By 2033, the volumetric display market is projected to expand at a CAGR of 20.1% in the United States.
- In South Korea, volumetric display sales are projected to grow at a CAGR of 21.9% by 2033.
- According to industry forecasts, the medical sector will experience a CAGR of 21% in the next few years.
“Growing popularity of holographic content and demand for entertainment and gaming technologies is expected to grow demand in the market. The rise of commercialization challenges and the influx of investments are expected to propel the growth of the market.,”, says an FMI analyst.
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Competitive Landscape
Numerous key players offer a wide range of products to compete for market share in the volumetric display market. A number of aspects influence these companies’ competition, including product innovation, quality, pricing, design options, sustainability, and customer service.
Research and development is a frequent investment for them as a means of keeping up with changing customer needs, introducing new designs, and enhancing performance. Expanding a company’s market presence often involves strategic partnerships, mergers, and acquisitions.
Market Developments Include:
- In 2023, CES continues, with more impressive announcements, including Sony’s entry into the metaverse with a portable volumetric capture device, along with the usual new TV sets. Using its Spatial Reality Display, people can see into a 3D world without glasses or headsets, using it to actually see into a 3D world. A 27″ prototype version of the display will be demonstrated. By being able to view 3D objects without any special equipment, visualization, and prototyping become much easier.
- In February 2023, FYR Medical secured $2.6 million in Series A funding to create an operating room magnifier that uses XR technology. As described by the manufacturer, the augmented reality-capable digital magnifier is similar to a traditional surgical magnifier in terms of size, shape, and weight. As a major advantage, FYR Medical’s volumetric light field displays are based on Light Field technology. In contrast to two-dimensional displays, progressive lenses allow the eye to focus on objects of differing distances.
Volumetric Display Market by Category
By Display Type:
- Static-volume Display
- Swept-volume Display
By End-Use:
- Medical
- Aerospace & Defense
- Automotive
- Media, Communication, & Entertainment
- Education & Training
- Others (Oil & Gas, Mining, etc)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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