Light Field Market Size and Growth Analysis by 2024 - Panasonic, Lytro, NVIDIA, Toshiba, Apple, Samsung Display and Sony

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.

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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.

Key players operating in light field market include, Leia Inc., FoVI3D, Japan Display Inc., Panasonic,OTOY, Inc., Light Field Lab, Inc., Holografika, LUMII, Raytrix GmbH, Avegant, Lytro, NVIDIA, Ricoh Innovations Corporation, Toshiba, Apple, Samsung Display, Pelican Imaging and Sony. 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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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.

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.

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Asia Pacific is expected to witness a high growth in the light field market with the growing application of the devices and imaging solutions in several industries. Ongoing advancements in technologies in countries including China, India, and South Korea are encouraging the manufacturers to develop and adopt innovative technologies that would benefit the customers and satisfy their requirements. Manufacturers in the region are targeting several industries where the applications of the technology are growing in industrial, automotive, and aerospace sectors. Manufacturers are majorly investing in light 3D imaging for technological developments to increase the light field market growth.

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