The global holographic AR display market is expected to witness striking growth by 2031, owing to the increasing adoption of holographic AR displays in the automotive sector. Regionally, the North America region is envisioned to dominate the market.
NEW YORK, March 13, 2023 /PRNewswire/ —
Global Holographic AR Display Market Forecast Analysis:
As per the report published by Research Dive, the global holographic AR display market is expected to generate a revenue of $2,586.4 million and rise at a healthy CAGR of 31.5% during the analysis timeframe from 2022 to 2031.
Segments of the Holographic AR Display Market
The report has divided the holographic AR display market into the following segments:
Component: electronic component and optical component
Application: automotive, transportation and heavy machinery, healthcare and surgery, education, telecommunication, and region
Region: North America, Europe, Asia-Pacific, and LAMEA.
Access to the Complete PDF Sample of the Holographic AR Display Market
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Segment |
Sub-Segment |
|
Component |
Electronic Component – To witness the fastest CAGR by 2031 |
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Growing use of optical wavefronts to capture and replicate 3D pictures which are tangible and present is expected to augment the growth of this sub-segment further. |
|
|
Application |
Automotive – Dominant market share in 2021 |
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Integration of holographic displays in cars to lower the sight shift of divers from the road and improve driver comfort along with enhanced road safety is expected to propel the sub-segment forward. |
|
|
Region |
North America – Highest market share in 2021 |
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Presence of leading market players, increasing disposable income among individuals, rising R&D activities, and growing demand for luxury vehicles in this region are the major factors expected to fuel the growth of the market in the forecast period.
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Dynamics of the Holographic AR Display Market
With the rising adoption of holographic AR displays in the automotive sector to provide optimum safety and improved in-car, the holographic AR display market is predicted to witness progressive growth during the analysis timeframe. Besides, the growing customer expenditure on premium car services for comfort and safety is further expected to foster the growth of the market throughout the estimated period. However, the high cost and less awareness of holographic technology may hinder the growth of the market over the forecast period.
The wider applicability of holographic AR displays in numerous industries such as education, telecommunication, healthcare, and many more, is expected to create expansive growth opportunities for the market during the analysis period. Moreover, the growing use of holographic technology in point-of-sale terminals, billboards, digital signs, and many others is predicted to boost the holographic AR display market forward in the coming period.
Covid-19 Impact on the Holographic AR Display Market
The outbreak of the covid-19 pandemic has had a negative impact on the holographic AR display market. The strict lockdown measures all across the globe and the slowdown of business operations have restricted the manufacturing of displays during the pandemic period. Moreover, the drastic drop in vehicle sales has also impacted the market over that period. In addition, the reduced advertising budgets of several brands all across the globe over the crisis have decreased the demand for holographic displays during the period of crisis.
Key Players of the Holographic AR Display Market
The major players of the market include
- DigiLens Inc.
- Sygic
- Indiegogo, Inc.
- Visteon Corporation
- Futurus Group,
- Continental AG
- Avegant Corp
- WayRay AG
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in January 2023, VividQ, a UK-based deep tech startup providing realistic and immersive visual experiences in next-generation digital displays announced its partnership with Dispelix, a designer and fabless manufacturer of mass-manufacturable diffractive waveguide displays. With this acquisition, the companies aimed to develop a new 3D holographic imagery technology toward mass production readiness.
What the Report Covers?
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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