Light Field Market Analysis Report, Trends, and Forecast from 2018 to 2024
Light Field Market size is expected to grow substantially over the coming years with the rise in adoption of the technology in several devices such as smartphones and cameras. Growing demand for high quality and advanced features in the devices is increasing rapidly. Several advantages offered by these devices include clear images, 3D image from single lens, and advanced focusing options that enable the user to focus the picture after taking the photograph. For instance, NG’s Lytro is a digital camera that captures live images that can be refocused after the capture. This feature of the camera provides users the benefit of editing their photographs and thereby driving the light field market growth.
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Moreover, the light field market is witnessing a growing demand from the entertainment industry for 3D experience in movies and cinematographic effects. Applications of this technology in the entertainment industry have revolutionized the cinematic experience for the audience thereby providing substantial opportunities for the directors and creators to sustain in the industry. For instance, Cinema that was introduced by Lytro for targeting the film industry is aimed at capturing the need and requirement of movie makers. It is a high performance, high- resolution video capturing, and editing system that uses the technology for generating 3D versions of 2D scenes. The advantages offered by this device include refocus, synthetic combinations, varying depth of field, shutter angle, and output frame rate, which drive the need and requirement of technology in the light field market.
Growing use of Augmented Reality (AR) and Virtual Reality (VR) devices is expected to drive the light field market over the coming years. In these devices, the technology helps in creating accurate images and sound that imitate the real environment to create an imaginary scene. It mainly helps in imitating realistic and immersive replication of 3D 360-degree virtual environment that provides interactive and real-time simulation. The developers are focusing on designing the devices by integrating the technology to provide its customers a reality-based experience. For instance, in October 2017, Avegant Corporation announced that it is developing display kits based on this technology and they can be utilized by manufacturers in AR/VR devices. This will allow the devices to provide a realistic appearance of virtual objects by generating multiple focal planes. In addition, the growing demand for these devices in gaming, defense & military, medical, and other entertainment sectors is driving the light field market.
The lack of infrastructure support to implement the technology in advanced devices is restricting the light field market growth. Poorly reconstructed depth quality, large data storage, and low spatial resolution are negatively impacting the technology demand. Moreover, the lack of human interaction with 4D technology owing to the limited availability of the devices and the several issues that need to be enhanced is restraining the industry growth. Several manufacturers in light field market are developing technologies to integrate this technology and provide enhanced experience to their customers. For instance, in 2018, Magic Leap announced release of its AR goggles that work on this technology. The device captures all the information related to the light rays in a room and dictate how the objects appear virtually in given space.
Growing demand for the AR/VR based products in military & defense sector is projected to impel the light field market growth. The sector is witnessing a growing importance of these products for training the soldiers by providing simulation-based training during combat and other dangerous situations. Several training areas are implementing and using these devices during flight simulation, battlefield simulation, medic training, virtual boot camp, virtual reality war, virtual reality army exercises, and vehicle simulation. These training processes are carried out by using Head Mounted Displays (HMD) with inbuilt tracking system thereby driving the growth of light field market.
Imaging solutions accounted for a high industry share in the light field market. These solutions are widely used in several industries for carrying out the important and careful investigation of the processes. The processes include molecular structure examination, infrared & thermal imaging, and several medical process examinations & analysis. The complex structures and techniques can be carefully examined by the application of these technologies. Growing demand for these techniques in several industries such as chemical industry, robotics, automobile, and healthcare is anticipated to propel light field market growth. Moreover, these development kits consist of software, hardware, and other support services that allow companies and businesses to develop innovative mixed reality products.
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Growing demand for the imaging solutions in the healthcare sector is expected to drive the light field market. Increasing need and requirement of careful investigation of several organs, tissues, nerves, and bones in the human body is growing the demand for the devices and solution, which can provide detailed analysis and health reports. Several imaging solutions in this sector include X-rays, CT scan, MRI, ultrasound, nuclear medicine imaging, and positron emission tomography. These examinations include machines, which use this technology for providing 3D or 4D view of the internal systems and organs. The applications of these machines are growing rapidly with the increase in the criticality of the diseases and defects in the human body, thereby providing an impetus to the light field market growth.
Key players operating in light field market include, Leia, Inc, Fovi 3D, Japan Display, Panasonic Corporation, Otoy, Light Field Lab, Holografika, Lumii, Raytrix, Avegant, Lytro, NVIDIA, Ricoh Innovations Corporation, Toshiba, Apple, Inc., Samsung Display, Pelican Imaging Corporation, and Sony Corporation, among others. These players are competing based on the customer need and requirement for the applications of the technology in several processes. They are adopting several strategies to cater to the demand of the customers in the light field market such as new product development and product differentiation. Companies, such as Apple, Google, and Facebook, are developing cameras based on the light field for immersive augmented reality. In October 2017, Facebook and OTOY announced the launch of the 360-degree VR video technique.
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