Holographic Display Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

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. The COVID-19 pandemic has negatively affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs and thus disrupting the supply chain. 

• 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.

Scope of the Report

Holographic displays essentially use the phenomenon of light diffraction to create a virtual three-dimensional image of an object. The advent of holographic technology is expected to have a colossal effect across various industry verticals, such as aerospace, defense, retail, and healthcare, owing to the profound potential that its applications hold. The report study offers a qualitative overview of light diffraction technologies used in holographic displays and market sizing and forecast for holographic displays across various end-user verticals across the geographical regions as depicted in the scope of the study.

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Key Market Trends

Automotive Segment is Expected to Witness Significant Growth

• The automotive industry is a primary adopter of the display technologies, mainly attributing to the rise of the entertainment displays in vehicles. Initially, displays screens attached to the front seats for the entertainment of the rear passengers were aftermarket solutions that quickly became standard features in high-end cars. With the integration of the smartphone interface into the car entertainment system, screens are being installed in the front dashboard.
• Further, the market is witnessing a dramatic increase in demand in the display area used by .several major automobiles. Traditionally the automotive market space was slow to adopt new technologies. However, the adoption of holographic displays is anticipated to evolve from high-end cars to mid and lower range vehicles in the foreseen period.
• A UK-based company, Ceres Holographics demonstrated at CES2020, its digital windscreen cluster with holographic display, illuminated by a TI DLP Auto projector. The technology features a DLP5534-Q1 chipset that processes and projects the light onto the CERES holographic film. The company boasts that this is the ideal design for transparent window display applications.
• Moreover, phase-only holographic display technology developed is a compelling alternative to LED/TFT displays for use in head-up display applications. For instance, Range Rover adopted the holographic HUD for use in the Evoque due to its low power consumption and design flexibility.
• Moreover, in Jan 2020, WayRay demonstrated its AR device at the CES 2020 in a proof of concept, announcing that the holographic powered glass will serve as a platform for new services and will also open up new in-vehicle experiences for future mobility. The navigation system from the company not just have navigation features but also incorporates advanced driver assistance systems (ADAS) features such as lane departure warnings and forward collision warnings.

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