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A31882 | Pages: 270 | Charts: 54 | Tables: 107 |
The global holographic ar display market was valued at USD 170.3 million in 2021, and is projected to reach USD 2.6 billion by 2031, growing at a CAGR of 31.5% from 2022 to 2031.
The surge in demand for holographic AR displays for medical applications such as endoscopy and X-ray drives the holographic display market growth during the forecast period. In addition, increase in the usage of holographic displays for advertising and events promotes the holographic display market rapid expansion. All these are the major factors anticipated to drive the market revenue growth in the upcoming years.
A holographic display is used to create realistic three-dimensional (3D) images. It uses light diffraction to generate a holographic effect. It is used in a variety of sectors as a successful marketing and advertising tool to generate brand awareness and boost sales. Several manufacturers are already developing advanced product variations that can display 3D pictures of aerial maps. They include micro pistons that act similarly to pixels on a computer display, helping to enhance overall image quality.
The high cost of manufacturing holographic display devices is limiting the market expansion. Manufacturing holographic devices is an expensive procedure, which may be prohibitively costly for small companies. As a consequence of this issue, it is anticipated that the final cost of the product would be expensive and not all customers in developing countries will be able to afford it. These factors are projected to restrain the growth of the holographic AR display market during the forecast period.
The holographic AR display offers immersive experience to the users where the users can interact with the digital elements in virtual environment. Holographic AR displays have great potential in other sectors including education, telecommunication, infrastructure, construction, and healthcare. AR sensors are used in cameras and screens to connect digital information with the real physical world and efficiently transform it with holographic visuals. Holographic displays are expected to be used more in dentistry, medical, and health science education. Holographic AR displays provide an excellent opportunity to enhance education especially medical studies. All these factors are anticipated to create growth opportunities for the key players operating in the market during the forecast period.
The key players profiled in this report include WayRay AG., Continental AG, Visteon Corporation, Sygic, DigiLens Inc., Indiegogo, Inc., Futurus Group, and Avegant Corp.
The global holographic AR display market is segmented on the basis of component, application, and region. By component, the market is divided into electronic component and optical component (diffractive optical element (DOE) and holographic optical element (HOE)). By application, the market is classified into automotive, transportation and heavy machinery, infrastructure, healthcare and surgery, education, telecommunication, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The holographic ar display market is segmented into Component and Application.
[COMPONENTGRAPH]
By component, the electronic component sub-segment dominated the market in 2021. Holography and digital computational technologies were substantially merged to create the new technological discipline of electronic component holography. Holography displays capture and replicate 3-D images by using optical wavefronts. In order to generate a picture, the collected interference pattern modifies an illumination beam. The dispersed wavefront from the object scene is diffracted by the modulated light and then reproduced in three components. These factors are projected to drive the sub-segment growth.
[APPLICATIONGRAPH]
By application, the automotive sub-segment dominated the market in 2021. Holographic AR displays are used in vehicles to lower the sight shift of the driver from the road. In addition, holographic AR displays increase the comfort of the driver which is expected to drive its adoption in the automotive sector. The use of holographic displays, however, is predicted to shift from high-end automobiles to mid-range and lower-range vehicles during the forecast period. These are predicted to be the major factors affecting the holographic AR display market size during the forecast period.
[REGIONGRAPH]
By region, North America dominated the global market in 2021. The U.S. dominates the holographic AR display industry due to the presence of large market players and a greater rate of technological adoption. In addition, a sizable expenditure for advertising from numerous businesses is projected to boost market expansion during the forecast period. Furthermore, the region is a growing market for hologram display players due to the profusion of many electronics and vehicle manufacturing companies.
Key Market Segments
Key Market Players