Volumetric Display Market Size, Share & Trends Analysis Report By Display Type (Static Volume, Swept Volume), By End Use (Medical, Aerospace & Defense, Automotive), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global volumetric display market size was valued at USD 135.5 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 28.5% from 2019 to 2025. Continued innovation and technological advancements to deliver enhanced resolutions and features in 3D display technologies are anticipated to drive the market growth over the forecast period. Ongoing developments in lasers, optics, and electronics have led to the emergence of volumetric displays, enabling multiple viewers to look at the image at the same time from different perspectives without any need for special eyewear gadgets.

Demand for this technology is rising in the defense industry across developed countries such as U.S., U.K., and Japan, due to its wide adoption in creating awareness in education and battlefield monitoring applications. Governments of these countries are significantly investing in advanced technologies in order to strengthen their defense capabilities. For instance, the U.S. government has proposed a budget of nearly USD 738.0 billion for the defense sector for 2020, which is around 3.0% more than from 2019. Thus, substantial growth in defense budgets across key countries is estimated to spur demand over the forecast period.

Consumers across the globe are changing preference from traditional 3D displays to volumetric 3D displays. This shift is due to the inherent advanced features of the latter, such as visualization of holographic aerial images in free space, 360° spherical viewing angle, autostereoscopic capabilities, and motion-based depth cues. Volumetric displays provide better resolution, improved user viewing experience through a number of visual effects, and real-time 3D experience, which in turn is expected to boost market growth over the forecast period. Several industries, including military and defense, aerospace, healthcare, and media and entertainment, have upped the adoption of volumetric display in various applications such as patient surgery, research and development, and media marketing, another factor that will drive the market.

In recent years, the demand for enhanced gaming experience has gained immense traction among enthusiasts across the globe. Volumetric displays deliver a 360° view of 3D gaming without any device on the gamer’s body. Moreover, key market players such as Voxon Photonics are aggressively focused on introducing innovative 3D displays for gaming purposes across several countries. Thus, increasing consumer demand and massive investments by key market players in manufacturing are anticipated to bolster market growth.

The volumetric display is a complex assembly of components such as motor, projector, sensors, and laser systems. This, in addition to high costs, is expected to hinder market growth over the forecast period. Volumetric display relies on rotating parts or scanning mechanisms, which create limitations for manufacturers to produce large-screen units. High costs incurred during the manufacturing process result in an increase in the overall cost of the product.

Display Type Insights

Based on the display type, the market has been segmented into swept-volume and static volume. The static-volume segment held the largest market share of more than 50.0% in 2018 and is anticipated to expand at a significant CAGR over the forecast period. Static volumetric displays are highly preferred among customers due to their ease of availability in various categories. This category includes types based on gas medium upconversion, solid-state upconversion, and crystal cube static displays. These help in quick security checks at airports and also provide enhanced visibility during medical surgeries.

The swept volume segment is expected to exhibit a CAGR of 29.9% over the forecast period. The growth is attributed to the significant focus on developing advanced swept volume displays by prominent market players globally. For instance, in June 2019, Voxon Photonics introduced ‘Z3D’, the world’s first 3D Arcade Machine based on swept volume technology, which delivers enhanced gaming experience with ultra-high digital projection device. The technology also helps support multi-user interaction for gaming and many other applications such as video calling.

End-use Insights

In 2018, the medical segment captured over 30.0% share in the global volumetric display market and is expected to expand at the highest CAGR among the end-use segments from 2019 to 2025. The volumetric display has gained momentum in the field of medical imaging applications owing to its significant use during surgeries. It creates a unique hyper-realistic experience for visualization of medical images during surgeries. Additionally, it builds a 3D image from stored MRI data in the systems and helps doctors view a part of anatomy from any angle with zooming features.

Moreover, volumetric displays deliver a remarkable visual impact during product advertisement and media marketing of a product by engaging customers for a long time. With the emergence of 5G technology, the media, communication, and entertainment industry is also expected to witness remarkable growth in the coming years due to significant demand for the product for video calling and virtual meeting purposes. Besides this, rising adoption of high graphics gaming technologies among millennials is anticipated to bolster the segment growth over the next six years.

Regional Insights

In 2018, the North America market attained a market share of more than 35.0% in the global market and is anticipated to register a CAGR of 30.4% over the forecast period. Rapid penetration of 3D volumetric displays in the oil and gas industry for visualization of 3D fluid flow in real-time is the key factor influencing the market growth. Increasing adoption of new technologies such as autostereoscopic display in healthcare is propelling the demand for volumetric display for medical imaging applications. Furthermore, a rapid rise in the U.S. defense spending to deploy advanced technologies for military simulation and training applications is estimated to boost the North America market during the forecast period.

The Asia Pacific market is estimated to showcase notable growth during the forecast period. This is due to changing consumer preferences toward high-tech gaming in countries such as Japan, China, and Australia. Additionally, rapidly growing consumer electronics industry due to significant Foreign Direct Investments (FDI) in the region is anticipated to increase the production and adoption of volumetric displays. Furthermore, countries such as China and Japan are estimated to capture a significant market share on account of mass manufacturing facilities and low cost of production.

Key Companies & Market Share Insights

Industry players have been focusing on organic growth strategies such as R&D investments, collaborations, and value-added features to expand their overall product portfolios and gain a larger share in the market. For instance, in November 2018, Voxon Photonics tested a successful video call on volumetric display by using a 5G network at the Mobile World Congress Americas in Los Angeles. This strategy is aimed at helping Voxon Photonics enhance its product sales across the globe after the commercialization of 5G services in 2020.

Moreover, the market is presently at its infancy, which allows existing players to fortify their market presence while presenting an opportunity for new entrants to foray into the industry. Additionally, key players are focusing on establishing partnerships and agreements with investors in order to raise funding to expand their market presence. For instance, in Dec 2018, LightSpace Technologies raised USD 5.5 million from ASHansaMatrix, backed by the European Investment Bank (EIB). The major purpose of the investment is to support R&D activities of real-time volumetric display technology, along with the development of industrialization and fabrication process of photonics elements. Some of the prominent players in the volumetric display market include:

• Lightspace Technologies Inc.

• Voxon Photonics Pty Ltd.

• The Coretec Group Inc.

• Holoxica Ltd.

Volumetric Display Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global volumetric display market report based on display type, end-use, and region:

•  Display Type Outlook (Revenue, USD Million, 2015 - 2025)

  • Static-volume display

  • Swept-volume display

• End-use Outlook (Revenue, USD Million, 2015 - 2025)

  • Medical

  • Aerospace & Defense

  • Automotive

  • Media, Communication, & Entertainment

  • Education & Training

  • Others (Oil & Gas, Mining, etc.)

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Rest of the World