Light Field Market

Light Field Market Research, 2031

The global light field market size was valued at $78.6 million in 2021, and is projected to reach $323 million by 2031, growing at a CAGR of 15.3% from 2022 to 2031. Light field is progressively replacing the term "image acquisition." Light field helps in capturing all the information about each light ray in the scene, which facilitates the user to freely focus on any plane. Light field maps the geometry of light rays with its corresponding pleiotropic attributes.

The COVID-19 pandemic has negatively impacted the light field market due to a temporary halt in the research & development activities related to the light field. As the light field is relatively new extensive research & development and investments are needed in this sector. The disrupted supply chain owing to the delay in the production of light field hardware has hampered the light field market growth during the pandemic.

The light field concept is gaining popularity in light field photography that has a number of unique qualities and advantages. The media and entertainment sectors will gradually adopt light field photography on a greater scale because of its exceptional potential for collecting 3D photos during motions and centering on a specific item. Hence, light field market is becoming highly popular across media and entertainment sector.

The main factor propelling the light field market is its ability to improve visual effects in video games and movies. In the media & entertainment sector, light field technology plays a major role in offering deep engagement and interactive experience. For cinematic purposes, Hollywood studios have a high demand for light field technology. They are able to create next-generation content for the viewers using light fields. The entertainment industry is quickly embracing visual effects (VFX). The use of light field technology is crucial for all of these processes. VFX is used by filmmakers, animators, and game designers to create engaging content for viewers. These 3D animations can be used to create a live video such as in movies or games. The market for light fields is experiencing tremendous demand as a result of the growing use in VFX.

The threat of piracy to the animation sector is ongoing. There is a sizable market for software that sells counterfeit versions. This makes the industry vulnerable to losses in money. The market's privacy concerns are a major restraint. The illegal downloading of content is managed by a monitoring system. These are unnecessary costs for the market that disrupt the rates of revenue. Numerous steps are being taken by the government to address privacy concerns. Numerous nations, including India, are developing anti-piracy awareness campaigns. High-level initiatives are being taken to prevent piracy. Even so, this restriction may have an impact on the market for light fields as a whole.

The rising demand for high-definition (HD) content with the growing adoption of augmented reality (AR) and virtual reality (VR) is anticipated to boost the light field market opportunity in the coming years. One of the most trending 3D technologies currently available is light field imaging. A natural viewing experience might be provided by this imaging device. It is a technology that enhances user experience and content quality. HD content is widely available thanks to the 3D technology.

Top tech companies use light fields to use camera arrays for augmented reality. It will make other applications, such as video conferencing and live displays, possible. These tech behemoths should utilize the 3D light field more to foster exceptional growth opportunities. The advantages of technology include improving viewers' attention, emotional response, and visual experience.

The key players profiled in this report include Japan Display, Fathom Holografika, Light Field Lab, K-Lens, CREAL, AYE3D, Photonic Crystal, Looking Glass Factory, Dimenco, and Wooptix.

The global light field market is segmented on the basis of technology, industry vertical, and region. By technology, the market is sub-segmented into hardware and software. By industry vertical, the market is classified into media & entertainment, healthcare, architecture & real estate, industrial, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The light field market is segmented into Technology and Industry Vertical.

By technology, the hardware sub-segment dominated the market in 2021. The hardware segment of the light field market accounted for the highest market size in 2021. Hardware components such as cameras, sensors, and displays are crucial for capturing, processing, and displaying light field data. The growth of more sophisticated sensors and processors that can manage the massive amounts of data produced by light field cameras is what makes up the hardware segment of the light field market. In order to handle and analyze light field data, advanced processing capabilities are frequently needed. As a result, the development of stronger sensors and processors is crucial for enhancing the usability and accessibility of light field technology for a variety of applications. These are predicted to be the major factors having a positive impact on the light field market outlook in the coming years. 

By industry vertical, the media & entertainment sub-segment dominated the global light field market share in 2021. The media & entertainment sector uses light field technology for creating new types of content, such as holographic displays and interactive installations. Light field technology allows for the creation of highly realistic 3D images and video, which can be used to create lifelike holographic displays and installations that allow users to interact with virtual objects and environments in real-time. Due to these advantages, the hardware used in light field technology helps in capturing complete information regarding light field including light intensity, color, direction, as well as location. Additionally, advancements in light field hardware such as cameras, sensors, and displays are anticipated to boost the growth of the hardware sub-segment during the analysis timeframe.

By region, North America dominated the global market in 2021 and is projected to be the fastest-growing sub-segment during the forecast period. North America countries namely U.S. and Canada are a home to a large number of light field manufacturers. Also, the U.S. has a robust and technologically advanced market for media and entertainment, which is a major application area for light field technology. The U.S. is one of the world's leading countries in terms of virtual and augmented reality technology usage, which is a major application area for light field technology. As a result, the growing need for immersive and realistic media experiences is propelling the North American light field market forward. North America has a huge and mature media and entertainment business that is increasingly demanding high-quality content supplied via innovative technologies like light field.

Impact of COVID-19 on the Global Light Field Industry

• The COVID-19 pandemic had a moderate and indirect impact on the light field industry impacting the research & development related activities in the area of light field technology. As the concept of light field is relatively new, extensive research, investments, and technology adoption is required
• However, the economic uncertainties caused by the pandemic, have led to reduced investments in this sector thereby impacting the light field market opportunities to some extent
• The companies involved in the production of light field hardware such as cameras, sensors, and others have faced disrupted supply chain challenges owing to which the businesses had to temporarily scale back or shutdown their operations.
• Due to this, the emerging companies in light field market have faced setbacks in terms of investments, partnerships, and collaborations with industries such as media & entertainment, and others
• However, post-pandemic the benefits of light field and its emerging applications in media, entertainment, events, automotive, and other sectors have gained significant popularity

Key Benefits For Stakeholders

• The report provides exclusive and comprehensive analysis of the global light field market trends along with the light field market forecast
• The report elucidates the light field market opportunity along with key drivers, and restraints of the market. It is a compilation of detailed information, inputs from industry participants and industry experts across the value chain, and quantitative and qualitative assessment by industry analysts
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the market for strategy building
• The report entailing the light field market analysis maps the qualitative sway of various industry factors on market segments as well as geographies
• The data in this report aims on Light Field Market Opportunity covering the market dynamics, trends, and developments affecting the light field market growth

 Light Field Market Report Highlights