Holographic Display Market - Forecasts from 2023 to 2028

The holographic display market is expected to grow at a CAGR of 27.09%, from US$3.179 billion in 2021 to US$17.025 billion in 2028.

A holographic display works with the help of a high-definition or 4K screen, which reflects the digital content through glass with the use of special glass optics. A holographic display differs from other forms of display because they do not require any special glasses or equipment like 3D glasses to experience the display content. This product can be used in multiple industries, such as medical technology, engineering, automotive, entertainment, etc., to communicate complex or technical information engagingly. The holographic display market can be classified in the following ways: by component, by technology, by dimension, by end-use, and by geographic region. The major drivers for the growth of this market include increased demand in several booming industries, such as advertising and healthcare.

The surge in the adoption of holographic displays by industries like healthcare and advertising is positively impacting market growth.

A key driver impacting the growth of the holographic display market is the surge in demand for the product for medical applications, such as X-ray and microscopic applications. Digital holography allows for more precise measurements of objects. This technology finds multiple uses in medical applications with an important need for accurate quantitative measurements for diagnostic or surgical purposes. Furthermore, the same principle applies to other technical industries, such as engineering, where this holographic display technology can recreate the geometries of critical processes to examine them further.

Holographic displays are also increasingly used for advertising and marketing purposes because they communicate complex or lengthy stories to viewers engagingly and clearly. Thus, holography display technology is used in billboard advertising, point-of-purchase machines, kiosks, and the hospitality sector to promote events and venues. Technological advancements in the holographic display market are also helping by making display solutions available for commercial and personal uses. Key businesses in the holographic display market have experienced a rise in income over the past few years because of such efforts. For instance, according to their yearly reports, Realfiction, which is involved in the business of manufacturing and selling holographic display products, had an increase in revenue of over 13% from 2021 to 2022 and produced total revenues of roughly TSEK 14,209 in 2022.

High costs of holographic displays are expected to restrain the industry's expansion.

A significant challenge faced by this industry relates to the high capital investment required for holographic display products, which hinders the industry's growth as it negatively impacts profitability. The large initial investment needed to buy holographic display products is a deterrent in the purchasing decision, especially for consumers in developing countries and small businesses. In addition, the usage of holographic displays requires large amounts of computing power and storage, which further adds to the overall cost of the product and makes it undesirable for a large segment of the market. This hinders the growth of the holographic display market.

Market Developments:

• In August 2020, PORTL announced the launch of its at-home holographic device aimed to transform the remote working setting during pandemic lockdowns by letting users interact with life-sized holograms of others instead of online video calls. The device also enables interactions with recorded holograms.
• In June 2022, New York-based hologram company, Looking Glass Factory announced the launch of a new 65-inch 3D holographic display screen. The large design suits wide-scale marketing campaigns, engineering and design processes, and private group-viewing uses.
• In February 2022, HYPERVSN announced the launch of its new line of 3D holographic displays called SmartV. This product is capable of running 2D and 3D content from external sources. Also, it provides other connectivity options to the users, such as HDMI connection which makes it a substitute for standard display televisions.

The North American region is expected to account for a significant share of the holographic display market.

North America is expected to constitute a significant market share, and similar trends will be followed in the forecast period. This market share is owed to the growth in research and development activities in different industries in the region's major economies, such as the United States and Canada. In the United States, the demand is growing due to applications in several industries such as medical, engineering, and automotive. Furthermore, the European markets will experience modest growth. At the same time, the Asia-Pacific region is expected to see a surge in demand due to an increase in industrial operations in the electronics, medical, and engineering sectors and increased investment in technical research and development efforts.

MARKET SEGMENTATION:

BY COMPONENT

• Light Modulator
• Scanner
• Lens
• Others

BY TECHNOLOGY

• Electro-holographic
• Touch-based
• Laser
• Piston

BY DIMENSION

• 2D
• 3D
• 4D

BY INDUSTRY VERTICAL

• Consumer Electronics
• Media and Advertising
• Healthcare
• Others

BY GEOGRAPHY

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East And Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others