Holographic Display Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The holographic display market is expected to grow at a CAGR of 27.3% over the forecast period (2021 - 2026). The holographic display market may witness a sharp increase over the next few years, especially in developed nations such as the United States, with help from various industry players to augment the regional demand subject to the extensive product applications in automotive, healthcare research, and medical imaging.

• While the healthcare, automotive, and media industries drive the demand for holographic displays, applications across media and entertainment, education, residential (living rooms), military mapping are expected to act as a catalyst for the market studied
• Additionally, holographic displays are being used in digital signages, billboards, point-of-sale terminals, kiosks, at places, and in events. The awareness regarding the use of holographic displays across all these applications may also significantly drive market growth. For instance, the retail sector has been substantially adopting digital signage solutions, with the significant and upcoming businesses opting for advanced digital signages featuring AI and machine learning to gain the most out of consumer analytics.
• Technological innovations have been a critical factor driving the new solutions being introduced in the market. In addition to this, in the United States, places like Las Vegas, are transitioning from traditional billboards. Three - dimensional, slightly hypnotic holograms may soon replace two -dimensional signs and ads. Several companies with this technology claim that 3 - D holograms may revolutionize the way businesses and brands talk to potential customers, as per Kino-mo.
• Further, trend aiding the adoption of holograms in this sector is the growing field of proximity marketing, to connect and drive their customer base by aligning themselves to engage their customers with a more tailored approach. An early instance of this is ARHT partnering with the Canadian retail chain, Harry Rosen, to display a human hologram named “Vincent,” the retailer’s first-ever human hologram, with the ability to count, confirm, and analyze a crowd to gauge the level of interest and deliver the correct value proposition
• However, the high cost of assembling holographic display devices are restraining market growth. The process involves manufacturing and fabrication of new technologies, which might prove cost-intensive for smaller companies. Furthermore, the pricing might seem expensive for consumers across underdeveloped nations, limiting the market’s growth therein.