New York, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The Holographic Display Market is expected to reach $13.0 billion by 2032, showing a significant growth rate of 21.4% from 2022 to 2032, surpassing a value of approximately $1.9 billion in 2022.
Holograms are widely used in business, especially in the emerging area of targeted marketing, allowing companies to connect with customers in a more personalized way and expand their customer base.
With various applications in industries like automotive, medical imaging, and healthcare research, the holographic display market is projected to grow rapidly by 2032. The demand for holographic displays is primarily coming from the media, automotive, and healthcare sectors, with potential acceleration in entertainment, academia, domestic, and defence mapping.
Holographic displays are utilized in billboards, kiosks, point-of-sale machines, digital signage, venues, and events, contributing significantly to market expansion.
To make the most of customer data, both big and growing businesses are adopting innovative online sign boards with machine learning and artificial intelligence, particularly in the retail industry. Advances in technology have led to new solutions in the market, allowing for unique visual interactions with the use of 3D holographic displays. These holograms have the ability to attract attention in busy settings, whether in a business, at an exhibition, or in public spaces, creating impactful visual experiences.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 1.9 Bn | |
| Estimated Revenue 2030 | US$ 13.0 Bn | |
| Growth Rate - CAGR | 21.4% | |
| Forecast Period | 2023-2032 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | By Component, Technology, Dimension, End Use, Industrial Vertical and Region | |
| Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa | |
| Key Companies Profiled |
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Holographic Display Market Analysis: 2017-2021 vs. 2022-2032 Forecast
The healthcare sector has been actively incorporating holographic display technology, especially in areas like endoscopy, X-rays, and other medical equipment. The increasing prevalence of chronic illnesses and improved access to medical facilities are driving the demand for holographic screens.
The entertainment sector is booming, contributing to the market growth with a rising need for digital signage at amusement sites. The use of holographic displays in digital point-of-sale (POS) devices is also on the rise due to the growing popularity of online shopping. The market is further boosted by the fast-paced shift to digital methods and the increasing preference for out-of-home (OOH) advertising options compared to traditional marketing.
The global demand for holographic screens is positively influenced by businesses aiming to reach a broader audience. The automotive industry is adopting holographic screens in entertainment systems, responding to changing customer preferences for luxury vehicles. Leading industry players are introducing holographic-powered devices to enhance in-vehicle experiences, incorporating advanced driver-assistance systems (ADAS) features like lane departure and forward collision alerts, which is expected to positively impact the market.
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Holographic Display Trends in the Automotive Industry
The use of entertainment screens in cars is growing, making the automotive sector a top user of display technology. Holographic technology is advancing quickly, prompting suppliers and manufacturers to explore innovative uses in cars. Several companies are working on creating materials for future applications, helping shift from prototypes to actual production. For example, displays are now placed on the car's front dashboard to integrate the smartphone interface into the entertainment system.
Moreover, there is a significant rise in demand for display space in many popular cars. In the past, the car industry has been slow to adopt new technology. However, it is expected that mid-range and lower-end cars will become the main users of holographic displays in the near future, replacing high-end vehicles.
Additionally, the proposed phase-only holographic display technology is becoming a strong alternative to LED/TFT displays for head-up display applications. For instance, Range Rover used holographic HUD for the Evoque due to its versatile design and low power usage.
Market Segmentation:
The Holographic Display Market, driven by semi-transparent or electro-holographic displays, is poised to grow at 21.4% CAGR from 2022 to 2032. Touchable holographic displays are gaining popularity, especially in gaming, retail, education, and healthcare, contributing to rapid market expansion.
Computed tomography leads in product applications, playing a critical role in medical imaging, while cameras are expected to grow significantly, capturing real-time 3D content for user-generated holographic experiences.
In terms of components, lenses dominate the market, accounting for 70% of revenue, while digital micrometers are projected to grow rapidly, crucial for advanced holographic projection technologies.
The medical sector holds the largest market share in applications, benefiting from holographic technologies in imaging, surgical planning, training, and patient education. Defense applications are expected to grow rapidly, driven by increased adoption for simulations, training, and strategic planning.
Regional Insights:
The APAC region is set to have the largest share, making up 34% of the Holographic Display Market in 2021. This growth is boosted by increased sales of gadgets, diverse uses in various industries, and the presence of rapidly growing major economies like China, South Korea, and Taiwan.
In the APAC region, the use of holographic display technologies by car companies is also a significant factor. This helps create an immersive experience for consumers and improves driver safety by not diverting their attention from the road to access necessary information. In countries like India, where public consumption plays a big role, the adoption of these technologies for advertising, along with decreasing costs of display technologies like 4K, LCD, LED, and OLED, is expanding the market rapidly. These advancements are expected to have a positive impact on the market's growth.
Competitive Intelligence and Business Strategy
Leading holographic display makers are reaching into new markets and areas by forming partnerships, opening new offices, and creating distribution channels. They're also developing software and platforms to help customers easily make and showcase holographic content, like holographic content management systems.
A few recent developments in the holographic display market are:
In January 2023, Realfiction's development team announced the completion of the first version of an ECHO exhibit with AmTRAN. This 17-inch full-HD screen can show different 3D and 2D content to two viewers simultaneously. The company can potentially make larger ECHO screens with better resolutions in the future.
In January 2022, Realfiction and AmTRAN formed a strategic partnership to create ECHO holographic projection devices. They will work together to develop specific LCD models using ECHO technology, utilizing AmTRAN's production facilities. If successful, both companies will have permission to market these products.
Key Questions Answered in the Report:
- What are the contributing factors to the market's growth trends?
- What is the current market size, and how is it expected to change in the upcoming years?
- What are the key elements exerting influence on the market?
- How is the Holographic Display market segmented, considering types, applications, fuels, or other relevant factors?
- Who are the major participants in the Holographic Display market?
- What strategies are these players employing to establish a competitive edge?
- What factors are propelling the expansion of the Holographic Display market?
- Which regions are anticipated to witness notable growth, and what are the driving factors behind it?
- What recent technological advancements are impacting the Holographic Display industry?
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