The holographic display market may witness a sharp increase over the next few years, especially in developed nations such as the United States, with help from various industry players to augment the regional demand subject to the extensive product applications in automotive, healthcare research, and medical imaging.
New York, July 02, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Holographic Display Market - Growth, Trends, and Forecasts (2020-2025)" - https://www.reportlinker.com/p05917974/?utm_source=GNW
- While the healthcare, automotive, and media industries drive the demand for holographic displays, applications across media and entertainment, education, residential (living rooms), military mapping are expected to act as a catalyst for the market studied
- Additionally, holographic displays are being used in digital signages, billboards, point-of-sale terminals, kiosks, at places, and in events. The awareness regarding the use of holographic displays across all these applications may also significantly drive market growth. For instance, the retail sector has been substantially adopting digital signage solutions, with the significant and upcoming businesses opting for advanced digital signages featuring AI and machine learning to gain the most out of consumer analytics.
- Technological innovations have been a critical factor driving the new solutions being introduced in the market. In addition to this, in the United States, places like Las Vegas, are transitioning from traditional billboards. Three - dimensional, slightly hypnotic holograms may soon replace two -dimensional signs and ads. Several companies with this technology claim that 3 - D holograms may revolutionize the way businesses and brands talk to potential customers, as per Kino-mo.
- Further, trend aiding the adoption of holograms in this sector is the growing field of proximity marketing, to connect and drive their customer base by aligning themselves to engage their customers with a more tailored approach. An early instance of this is ARHT partnering with the Canadian retail chain, Harry Rosen, to display a human hologram named “Vincent,” the retailer’s first-ever human hologram, with the ability to count, confirm, and analyze a crowd to gauge the level of interest and deliver the correct value proposition
- However, the high cost of assembling holographic display devices are restraining market growth. The process involves manufacturing and fabrication of new technologies, which might prove cost-intensive for smaller companies. Furthermore, the pricing might seem expensive for consumers across underdeveloped nations, limiting the market’s growth therein.
Key Market Trends
Automotive Segment is Expected to Witness Significant Growth
- The automotive industry is a primary adopter of the display technologies, mainly attributing to the rise of the entertainment displays in vehicles. Initially, displays screens attached to the front seats for the entertainment of the rear passengers were aftermarket solutions that quickly became standard features in high-end cars. With the integration of the smartphone interface into the car entertainment system, screens are being installed in the front dashboard.
- Further, the market is witnessing a dramatic increase in demand in the display area used by .several major automobiles. Traditionally the automotive market space was slow to adopt new technologies. However, the adoption of holographic displays is anticipated to evolve from high-end cars to mid and lower range vehicles in the foreseen period.
- A UK-based company, Ceres Holographics demonstrated at CES2020, its digital windscreen cluster with holographic display, illuminated by a TI DLP Auto projector. The technology features a DLP5534-Q1 chipset that processes and projects the light onto the CERES holographic film. The company boasts that this is the ideal design for transparent window display applications.
- Moreover, phase-only holographic display technology developed is a compelling alternative to LED/TFT displays for use in head-up display applications. For instance, Range Rover adopted the holographic HUD for use in the Evoque due to its low power consumption and design flexibility.
- Moreover, in Jan 2020, WayRay demonstrated its AR device at the CES 2020 in a proof of concept, announcing that the holographic powered glass will serve as a platform for new services and will also open up new in-vehicle experiences for future mobility. The navigation system from the company not just have navigation features but also incorporates advanced driver assistance systems (ADAS) features such as lane departure warnings and forward collision warnings.
Asia Pacific to Witness Significant Growth in The Market
- Asia-Pacific presents a very lucrative market for the holographic display market. This is due to the presence of developing economies as well as countries well advanced in the consumer electronics industries such as China, Taiwan, and South Korea.
- Japan and China have been pioneers in the automotive and consumer electronics sectors. Aligning their supply and demand and keeping up with the latest technologies, the markets in these regions have witnessed significant growth.
- The increasing sales of consumer electronics, growing demand for innovations in digital signage in retail, media, and advertising and rising demand for head-up holographic displays in the automotive segment have contributed to the growth of the Chinese holographic display market.
- In the commercial segment, this market is also growing effectively. Moove Media Singapore introduced its first-ever holographic display at Dhoby Ghaut Station on the North-East Line for the launch of Skechers DLT-A. The holographic display, a three-dimensional shoe is Skechers Singapore’s new footwear collection.
- While the market in India is at a very nascent stage, with a developing economy buoyed by a retail sector, increasing advertising expenditures, and improving public and private infrastructure in India, the demand for holographic displays is expected to grow over the forecast period.
- Further, the expansion of consumer electronics manufacturing capacities, especially in the South Central region of China, coupled with rising exports to neighboring countries in Southeast Asia and declining average selling prices of various display technologies such as 4K, LCD, LED and OLED is projected to increase the adoption of holographic display devices in the region.
The holographic display market appears to be moderately concentrated owing to the presence of multiple players in the market. The major market players are focusing on technological advancements. The players are adopting different strategies, namely acquisitions, partnerships, and joint ventures, by which only top players are gaining the market share. Some key players in the market are MDH Hologram Ltd, Looking Glass Factory Inc., Provision Holding Inc. among others.
- May 2020 - Looking Glass Factory announced that its display technology would support the UE4 plugin to enable the content creators to visualize designs using its holographic displays. The new feature is suitable to be used in a range of industries, like automotive, architecture, mapping/GIS, and medical imaging.
- Apr 2019 - RealView Imaging’s launched the HOLOSCOPE-i, which is the world’s first medical holographic system that provides realistic, spatially accurate 3D in-air holograms, and was used in a valve procedure in Toronto. Cardiologists and cardiac surgeons at Toronto General Hospital’s Peter Munk Cardiac Centre (PMCC) performed the first live medical procedure using real-time holographic imaging developed by the company.
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