A 3D display technology is an enhanced display device capable of transmission depth awareness to the viewer using stereopsis for binocular vision. The global 3D display technology is witnessing a surge in home entertainment, owing to decline in the cost of electronics applications. Moreover, three-dimensional visualization solution is designed to use volumetric multi-view, holographic, and stereoscopic projection solution to display pictures in three-dimensions, owing to which entertainment sector fuels the demand for 3D holographic display solution.
According to a new report published by Allied Market Research, titled, “3D display Market by Format Type, Technology, Access Method, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the 3D display market size was valued at $76.50 billion in 2020, and is projected to reach at $378.56 billion by 2030, growing at a CAGR of 17.6% from 2021 to 2030.
The 3D display market key players profiled in the report include Sony Corp., Panasonic Corp., LG Electronics Inc., Samsung Electronics Corp., Toshiba Corp., Sharp Corp., 3D Fusion, 3DIcon, Fujifilm Corp. and Mitsubishi Electric Corp. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the 3D display industry.
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The growth of the global 3D display market revenue is majorly driven by rise in demand for 3D display solution paired with sense of depth perception. Moreover, high adoption of 3D display solution in entertainment and gaming sectors is anticipated to drive the 3D display market growth. However, high cost of installation of 3D display solutions and rise in health-related issues are acting as a prime restraint of the global market growth. On the contrary, rise in penetration of Internet of Things paired with surge in market of TV, monitor, smart-phone and tablets is anticipated to provide lucrative opportunities for the 3D display industry during the forecast period.
According to 3D display market analysis, the LED segment was the highest contributor to the market in 2020. The stereoscopic and volumetric segments collectively accounted for around 91.0% market share in 2020. Surge in adoption of digital gaming solution on as led the growth of the stereoscopic and volumetric segment; thereby, enhancing the 3D display market growth.
The outbreak of the COVID-19 has significantly impacted the growth of the light field display. Decline in demand for 3D display-based applications such as projectors has significantly impacted the demand for 3D display solutions during the pandemic. Further, lack of availability of a professional workforce due to partial and complete lockdown implemented by governments across the globe has restrained the growth of the market during the pandemic. However, rise in demand for VR and digital application-based gaming solution has led to the growth of three-dimensional display solutions and is expected to drive the growth of the 3D display market post pandemic.
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Region-wise, Asia-Pacific holds a significant share in the global 3D display market revenue, owing to presence of prime players in this region. Further, China holds a dominating position in market, owing to rise in investment by prime players and government agencies to develop next generation 3D display solution. The adoption of digital or smart LED solution across residential sectors is expected to propel the growth of the 3D display market trends in this region.
Key Findings Of The Study
• By technology, the LED segment accounted for maximum revenue in 2020, and is projected to grow at a notable CAGR of 17.0% during the forecast period.
• By application, the TV and smartphone segments together accounted for around 73.2% of the 3D display market share in 2020.
• By type, the stereoscopic segment is projected to witness growth at a CAGR of 16.6% during the forecast period.
• By region, Asia-Pacific contributed a major share in the 3D display market, accounting for more than 41.8% share in 2020.
