Holographic Imaging market size and growth

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Holographic imaging segments

Holographic Imaging Market - Global Outlook and Forecast 2024

Global holographic imaging market is likely to reach around $4.5 billion by 2024, growing at a CAGR of approximately 39% during 2018–2024.

CHICAGO, IL, UNITED STATES, July 3, 2019 /EINPresswire.com/ -- The holographic imaging market is likely to reach around $4.5 billion by 2024, growing at a CAGR of approximately 39% during 2018–2024.

The market is undergoing an enormous transformation. Opportunities such as the increasing use of holographic imaging in the healthcare industry, high demand from the fashion industry, growing investment in holographic technology, growing innovations in consumer electronics, and the increasing popularity of touchable holographic displays are expected to fuel the market in the coming years.

With constant research, hologram technology is witnessing massive demand from several domains. Advancements in digital cameras, display technology, high-speed internet connectivity, and the convergence of AI (artificial intelligence) technologies, reconstructing digital signals to furnish 3d hologram images in real-time have opened new business prospects for holographic imaging applications, which is further expected to propel the market during the forecast period. Also, developers and researchers are trying to introduce user-friendly and economical technology by enhancing features. Hence, the increasing smart devices penetration, high disposable incomes, and the demand for new technologies will drive the market in the coming years. The global holographic imaging market is likely to reach around $4.5 billion by 2024, growing at a CAGR of approximately 39% during 2018–2024.

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Touchable displays are witnessing increased application at marketing and promotional events

The holographic imaging market is witnessing a flurry of technological transformations. A touchable holographic display is the latest technological innovation in the market. This display enables the user to touch the projection mid-air and make changes according to its demand. These displays are highly popular in the healthcare sector, followed by the defense, consumer electronics, and other commercial sectors. Currently, the touchable display is also used in commercial applications at several events as well as marketing and promotional activities. Hence, the integration of consumer electronic products with touchable displays is likely to grow during the forecast period, thus affecting the overall holographic imaging market. The holographic displays are the latest introduction in the global display market and will face stiff competition from the LED signages and displays available in the market.

The market has given new dimensions to the travel and hospitality industry. The technology is widely used at hotels and airports for multiple purposes such as check-in counters, security checkpoints, concourses, baggage claim, gate hold, and at commercial places. For instance, in 2017, the Wellington developed a giant hologram Point Zero at Auckland International Airport. The airport authorities used the hologram for disseminating the useful message in public interest such as warning international travelers about the dangers of inadvertently bringing fruit flies into the country. Similarly, in China 2017, Guangzhou Baiyun International Airport introduced three holographic display solution as customer executives, guiding them to check their belongings.

The market research report includes detailed market segmentation by technology, end-user, application, display type, and geography.

Hybrid technology to be extensively used for holographic image solution by 2024

The holographic imaging market by technology can be segmented into reflection, transmission, and hybrid. The hybrid segment is expected to grow at a CAGR of around 42% during the forecast period. Hybrid technology is one of the most adopted techniques in the market. Vendors are constantly looking to improve the product quality by investing capital in R&D activities. However, many startups are also coming up with new simpler and cheaper technologies. It is expected that hybrid technology will be extensively used for holographic image solution by 2024.

The transmission segment captured around one-third of the holographic imaging market in 2018. This technology is gaining popularity, especially among healthcare, military, and commercial users. In terms of geography, North America dominated the market and captured nearly half of the market in 2018.

The reflection segment is expected to grow at a CAGR of around 34% during the forecast period. Reflection technology is expected to grow significantly in APAC due to the growing healthcare and commercial market.

Tourism is the fastest growing end-user and is expected to grow at a CAGR of around 45%

The holographic imaging market by end-user can be segmented into healthcare, commercial, defense and aerospace, education, corporates, tourism, and others. The healthcare segment has captured more than half of the market and is expected to grow at a CAGR of around 37% during the forecast period. Some of the major innovations in the healthcare industry includes Next-generation sequencing (NGS), 3D-printing, Immunotherapy, Artificial Intelligence (AI), Point-of-care diagnostics (POC), Virtual Reality (VR) and Augmented Reality (AR), biosensors and trackers, convenient care, telehealth, and the use of social media for enhanced consumer experience. Hence, hologram technology will help to make treatment and diagnosis easier, more accurate, and efficient, which is likely to benefit the holographic imaging market significantly.

Tourism is the fastest growing end-user and is expected to grow at a CAGR of around 45%. The usage of 3d hologram imaging technique can be used to attract more tourists and generate revenues by showcasing the precious treasure and hidden chambers, which are not open to the public due to safety, damage, and faith issues.

The commercial segment is one of the major end-users, which is expected to add significant revenue to the market by 2024. The market is likely to witness high demand from the advertising industry, musical events, and fashion shows. The market will be highly driven by the growing number of commercial activities, the booming infrastructure and exhibition market, a growing number of airports across the globe, and changing the advertising industry.

Holographic imaging solutions are economical and effective data storage options

The holographic imaging market by the application can be segmented into image production, 3D replication, information storage, scanning and detection of scattered lights, real-time non-destructive testing, and inspection. In 2018, the image production segment captured around one-third of the market and is expected to grow at a CAGR of around 34% during the forecast period. This technology is highly used in the healthcare industry and galleries.

3D replication helps the user to visualize 3D hologram images from every angle and illustrate the data that cannot be viewed in 2D. Physically, the hologram looks like a sheet of plastic where the 3D image pops out when the laser light is illuminated over it. Holoxica and Zebra Imaging are known players in the segment.

The information storage application is expected to overcome the data storage challenge. With the growing number tech-savvy population and unprecedented growth in data generation, the storage space is likely to be constrained and the threat of data loss is growing. Hence, holographic imaging provides data storage in an economical and effective way. Data can be stored in the form of optical holograms, which can be easily retrieved during contingencies.

Other segments such as scanning and detection of scattered light, and real-time non-destructive testing and inspection are also growing rapidly.

Touchable and holographic TV displays are likely to witness significant growth during the forecast period

The holographic imaging market by display type can be segmented into laser plasma, micromagnetic piston, touchable, and holographic TV display. In 2018, laser plasma captured three-fourth of the market and is expected to grow at a CAGR of around 36%. Micromagnetic piston displays are likely to grow, however, market growth is likely to be throttled high cost and susceptibility to mechanical failures. Touchable and TV displays will emerge a major trend in the market during the forecast period. These segments are expected to grow at significant CAGRs of 45% and 48%, respectively, during the forecast period.

APAC to emerge as a key region driving the market growth

The holographic imaging market by geography can be segmented into North America, APAC, Europe, MEA, and Latin America. North America is dominating the market and is expected to grow at a CAGR of around 36% during the forecast period. The growing demand for better medical equipment and accurate technology for diagnosis and surgery is driving the demand for hologram technology. The healthcare industry is one of the largest end-users and is witnessing an unprecedented demand for 3d hologram technology due to its wide application in medical research and education, medical imaging, and healthcare research. EchoPixel, RealView Imaging, and NanoLive are expected to lead the holographic imaging market in North America during the forecast period.

APAC captured around one-third of the market in 2018. The technology is widely used in the medical sector, followed by the defense, entertainment, marketing, and promotional events sectors. China, Japan, South Korea, Singapore, Australia, and India are key markets driving the growth of the technology in the region.

Europe is another prominent and dynamic holographic imaging market. Expanding advertising industry, increased demand for modern medical technologies and the growing demand for smart automobile technologies are expected to boost the demand in the European market. Further, governments in the region under the Horizon 2020, which is the EU’s largest Research and Innovation program, are likely to invest approximately $90 billion from 2014–2020, aiming at securing Europe's global competitiveness.

Key Countries Profiled:

US
Canada
UK
Germany
France
China
Japan
South Korea
UAE
South Africa
Brazil
Mexico

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Key Vendor Analysis

The holographic imaging market is witnessing the entry of new players as the market is niche commercially and offers high growth opportunities. Holographic display manufacturers are collaborating with major consumer electronics and healthcare manufacturers to enhance the sale of products. Meanwhile, online or traditional retail distribution channels are also playing a vital role in increasing the sale of technology. The holographic imaging market is growing at a significant rate with the demand for small holographic display is on the rise.

Prominent Vendors

Holotech Switzerland
LyncéeTec
EchoPixel
RealView Imaging
Nanolive SA
zSpace
LEIA INC
Jasper Display Corp.
Realfiction
Provision 3D Media
Holoxica

Other Prominent Vendors are Musion 3D (MDH), Trikona Technologies, Wayray, AV Concepts, 8i, Ovizio Imaging, Virtual On, Shenzhen SMX Display Technology Co Ltd, Avegant Corp, Kino-Mo Ltd, Looking Glass Factory, Displair Inc.

Key Market Insights

Offers market sizing and growth prospects of the holographic imaging market for the forecast period 2019–2024
Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market
Includes a detailed analysis of market growth drivers, challenges, and investment opportunities
Delivers a complete overview of market segments and the regional outlook of the market
Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market

Jessica
Arizton Advisory & Intelligence
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