High Assembling Costs of Holographic Display Devices
Manufacturing and fabrication of holographic devices involves high cost, which might prove cost-intensive for smaller companies. Owing to such a factor, it is anticipated that product prices might seem expensive for consumers across underdeveloped nations, thus acting as a barrier to the growth of the holographic display market during the forecast period.
The holographic display market is observing vibrant growth on account of increasing use of holographic displays in medical imaging, coupled with rising demand for holographic projections at events, fashion shows, conferences, product launch ceremonies and others. All of these factors are expected to boost the growth of the holographic display market.
The market is anticipated to record a CAGR of around 28.48% throughout the forecast period, i.e. 2019-2027. The holographic display market is segmented by end user into consumer electronics, commercial, aerospace and defense, medical and industrial, out of which, the commercial segment is anticipated to hold largest market share on account of growing direct spending from commercial business events held worldwide. According to Events Industry Council, which is a non-profit federation of more than thirty U.S. and international organizations, stated that business events generated more than $1.07 trillion USD of direct spending in the year 2017.
Increasing Investments in 3D technology
Various technology giants have been instrumental in aiding the emergence of holographic devices. Various real holographic reconstruction application places objects where they belong in the real world and not near a display screen. Increasing investments in 3D technology by enterprises coupled with focus of enterprises towards projection of holographic 3D (H3D) into space using tailored micro displays for HMD and HUD applications and others, is anticipated to support the growth of the holographic display market.CLICK TO DOWNLOAD SAMPLE REPORT
Growing advancements in screen-less displays owing to shortfall of space, on screen based displays, is increasing the scope for holographic displays. Factors such as augmented reality is also adding up to the demand for screen-less displays. One such type of screen-less display is known as the visual image, which acknowledges any type of image or thing with the help of human eye. Holographic displays display the three dimensional images by using elements such as helium neon laser.
Growing Demand For Incorporating Holographic Display Technologies in Medical Applications
The global medical holography is anticipated to record a CAGR of around 30.4% during the forecast period. Increasing applications of medical holography for various processes in the healthcare industry, such as X-Ray, endoscopic, and others are expected to drive the holographic display market. Additionally, growing R&D activities for technological advancements in medical devices, coupled with other medical applications such as holographic light-in-flight recording methods, diffractive bifocal intraocular lens for geriatric population and others, all of these factors are anticipated to support the growth of the holographic display market throughout the forecast period.
Our in-depth analysis of the holographic display market includes the following segments:
By End User
On the basis of regional analysis, the holographic display market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia-Pacific is expected to have largest market share on the back of presence of key players in the consumer electronics industry. Furthermore, presence of economies, such as China, Taiwan, South Korea and others, in the region, are also known for their expertise in technological advancements of consumer electronics, which is anticipated to support the growth of the market in the region.
Additionally, North America is expected to gain significant market share on the back of expanding medical requirements in medical devices and instruments. Furthermore, growing healthcare industry in the region is also anticipated to support the growth of the market in the region.
The zero waste packaging market is further classified on the basis of region as follows:
Light Field Lab, a display technology startup, have announced that it has raised $28 US million in funding in order to build large holographic displays.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.