3D Display Market to Garner US$ 3,290.83 million, Globally, By 2028 at 28.3% CAGR: The Insight Partners

The 3D Display Market was valued at US$ 575.09 million in 2021 to reach US$ 3,290.83 million by 2028; it is estimated to register a CAGR of 28.3% from 2021 to 2028. Consumer electronics, automotive, medical, military & defense, industrial, media & entertainment, gaming are among the potential markets for 3D displays. Additionally, growth in entertainment and gaming industries positively impacted the 3D display market as the number of cinema screens has increased significantly, i.e., ~125,000 in 2021 cinema screens have begun operating on a digital platform globally. Moreover, the rising adoption of augmented reality

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The advancements in Virtual reality and Augmented reality are emerging gradually. The future of AR and VR technologies based on holographic display would create growth opportunities for next-generation 3D display in the consumer electronics sector. For instance, in November 2020, a report was released on Google/Amazon's 3D AR products and WIMI's 5G + MR head-mounted display products. Google, Apple, Microsoft, and WIMI have entered the VR/AR market. Google has integrated the AR function on its search engine, where it offers 3D models of animals and celestial, including moons, spaceships, and planets. WIMI China offers hologram visual presentation, hologram AR advertising, and hologram face recognition. Its commercial application includes Lightfield Theater, home entertainment, commercial publishing system, and advertising display system. AR/VR can be experienced by the use of 3D displays. Hence, the above factors would lead to the growth of the global market.

Impact of COVID-19 Pandemic on 3D Display Market:
The US is a prominent market for 3D display owing to growing media and entertainment industry and rising focus on designing 3D enabled smartphones and TVs. The huge increase in the number of COVID-19 confirmed cases and the rise in reported deaths in the country are adversely affecting both manufacturing and sales of materials associated with 3D displays. The factory and business shutdowns across the US, Canada, and Mexico are hindering the adoption of 3D displays. North America is home to a large number of manufacturing and technology companies, and thus the impact of the COVID-19 outbreak is anticipated to be quite severe till mid-2021. The region is expecting market recovery and economic improvement with the start of the COVID-19 vaccination.

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Holographic 3D Display Systems to Drive the Future Growth-
Holographic display technology generates arbitrary wavefronts which can be considered as an ultimate 3D experience for end-user. In comparison to 2D image-based stereoscopic displays that are used to create 3D perception which can create issues such as headache, visual discomfort, eyestrain, and fatigue in some users, the holographic 3D displays are quite comfortable for users who want to experience realistic 3D. Another type of glassless 3D display technology includes volumetric displays, these displays use components distributed in a volume which scatter light in multiple directions, thus creating a realistic 3D experience. However, the requirement of high volume for these displays makes them difficult to use in many potential applications. Thus, holographic 3D displays which use a 2D surface by exploiting the wave nature of light to develop 3D images are considered a more viable option for potential 3D display applications in fields such as marketing, advertising, medical, automotive, education, entertainment, retail, hospitality, events, sports, and digital signage among many others.

3D Display Market: Technology-Based-
Based on technology, the 3D display market is segmented into digital light processing, organic light-emitting diode, and light-emitting diode. When it comes to performance, cost, and practicality, many of the most promising 3D display concepts are based on digital light processing technology. The digital light processing technology-based systems are used for both projecting the slice information of an image and creating virtual screens on which the slice information of the image is projected. Currently, the operating speed of digital light processing technology can generate images comprising millions of volumes of pixels without artifacts or flickers. Moreover, companies have developed their own proprietary holographic and volumetric projection technologies based on digital light processing; for instance, Digital Light Shaping technology developed by RealView Imaging Ltd, and HoloVizio technology developed by Holografika. Hence, in addition to DLP, the proprietary projection technologies developed and used by various companies in the global 3D display market are also included under this segment.

3D Display Market: Competitive Landscape and Key Developments:
AU Optronics Corp., Innolux Corporation, LG Electronics, Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Group, Sharp Corporation, Looking Glass Factory Inc., Light Field Lab, Inc., Leia Inc. are among the major companies in the 3D Display market.

The players operating in the 3D display market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market.

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