Digital Holography Market Expected to Reach $23.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Holography Market By Type (Hardware and Software), Application (Digital Holographic Microscopy, Digital Holographic Display and Holographic Telepresence), Vertical (Automotive, Aerospace and Defense, Healthcare, Consumer Electronics and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031". The digital holography market size was valued at $5 billion in 2021, and is estimated to reach $23.1 billion by 2031, growing at a CAGR of 16.7% from 2022 to 2031.

Some of the prime drivers of the digital holography industry are higher adoption rate of holographic displays for advertising and events and surge in demand for holographic microscopy for medical applications. These factors are estimated to accelerate market growth rapidly during the forecast period. However, the high cost of digital holography products and lack of awareness of holographic displays act as major barriers for the digital holography market growth. Contradictorily, the adoption of holographic displays in high-end cars creates lucrative opportunities for the market growth in automotive sector during the forecast period.Digital image technology breakthroughs that enable lifelike 3D holographic displays are what are driving the digital holography industry. Adoption is further boosted by the rising demand for augmented reality (AR) and virtual reality (VR) applications. The market is expected to expand as a result of its potential uses in data storage, scientific visualisation, and medical imaging.

The digital holographic display segment was the highest contributor to the market in 2021, owing to the benefits of enhanced viewing experience of customers. The digital holographic microscopy segment has a prominent share in the market in 2021, owing to its ability to display 3D reconstructed images with binocular, full-color, high resolution, and accurate depth presentation.The development of digital holography is further fueled by the rising demand for augmented reality (AR), virtual reality (VR), and mixed reality (MR) applications. These technologies hold the potential of revolutionising how we interact with digital material and bridging the gap between the real and virtual worlds. Additionally, the potential uses of digital holography for data storage, security, scientific visualisation, and medical imaging provide great incentives for further study and investment in this developing field, which will influence the direction of visual experience and communication in the future.

In addition, consumer electronics had significant digital holography market share in 2021, owing to emerging applications in offices for presentations, interactive kiosk and others. Moreover, the healthcare segment had significant market share in 2021, owing to the fact that it enables proper study of the medical condition of patients.

The outbreak of COVID-19 has significantly impacted the growth of the global digital holography sector in 2020, owing to significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally.The primary factors that encourage the advancement and implementation of holographic technology in numerous applications are referred to as digital holography drivers. These developments in digital photography and computational methods have made it possible to collect, recreate, and display three-dimensional holographic imagery, which is the source of these drives. Digital holography can now create lifelike and immersive holographic displays because to enhanced hardware capabilities, such as high-resolution sensors and potent computing units. Holographic data processing is now more accurate and efficient owing to advancements in software and algorithms, which have also increased its applicability to a larger number of sectors. 

Country wise, China holds a significant share in the global digital holography market, owing to the presence of prime players. Major organizations and government institutions in the country are intensely putting resources into this digital inline holography. These prime sectors have strengthened the growth of the global digital holography market trends in the region.

KEY FINDINGS OF THE STUDY

• In 2021, the digital holographic display segment accounted for maximum revenue, and is projected to grow at a notable CAGR during the forecast period.
• China contributed for the major share in the digital holography market, accounting for highest revenue share in 2021.

The key digital holography market leaders profiled in the report include Lyncee TEC SA, Holoxica Limited, EON Reality, Inc., Phase Holographic Imaging AB (PHI), Holotech Switzerland AG, Holmarc Opto-Mechatronics, Geola Digital Uab, Leia Inc., RealView Imaging and Ovizio imaging systems. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the digital holography market analysis during the forecast period.