Holographic display technology has the capacity to provide convergence, accommodation, motion parallax and binocular disparity. The ability to provide these four eye mechanisms makes this technology a highly innovative and new age technology. Holography or hologram has become the buzzword for the players in the industry. Humongous rise in the innovative applications and technological advancements are expected to drive the holographic display market during the next few years to come. According to the experts, the market is poised to witness healthy growth during near future. Rapid rate of adoption and varied applications remain to be the key for the rapid growth of this market on global platform.
Segmentation in Holographic Display Technology Market
Researchers have categorized the holographic display market on the basis of the types of technologies. These technologies include touchable, electroholographic or semitransparent, pistons, plasma or laser, and such other technologies. Apart from that, researchers segment this market on the basis of the types of products, their applications and demand from industry verticals and geographic regions. The types of products include digital signage, cameras, medical scanners, kiosks, portable games, notebooks and others. Several other types of products in the market are sub-categorized into wearable devices, smart watches, smartphones, smart glasses and such other products. This technology finds applications across the industries such as aerospace and defense, medical, commercial, industrial and consumer goods.
Vital Drivers, Restraints and Growth Prospects
According to the experts, the holographic display technology market is mainly driven by impressive rise in demand from major application segments of the world. This strong rise in demand is driven by innovative applications. Industries like advertisement, events and healthcare industries are witnessing strong rise in demand in this market. Rapidly advancing technologies and demand for smartphones and other smart devices are also creating growth opportunities for this market. According to the experts, major restraining factors for the market include high costs and less effective projection under bright light (especially sunlight). However, strongly evolving technologies in the market are estimated to help this market witness impressive growth during next few years.
As per the latest research reports, the global holographic display market is expected to grow at a steady CAGR of over 30% from 2014 to 2020. At the estimated growth rate, the market is poised to reach past the overall worth of $3.57 billion by the end of the year 2020. During this span, North America is projected to acquire the biggest market share. In terms of growth rate, emerging markets like Asia Pacific are projected to witness impressive growth.
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