New York, USA, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global light field market. According to the report, the global market is projected to surpass $860.7 million and grow with a CAGR of 19.3% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the light field market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
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Impact of COVID-19 Pandemic on the Light field Market
The outbreak of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global light field market. The implementation of lockdown restrictions greatly impacted the arts and entertainment industry, thus plummeting the demand for photography and imaging. This greatly hindered the growth of the light field market during the pandemic. However, initiatives taken by market players, such as novel developments and strategic collaborations, to recuperate the market from losses are likely to unlock lucrative opportunities for the market in the upcoming years.
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Factors Impacting the Light Field Market Growth
The key factor boosting the growth of the global light field market is a significant rise in advancements in visual effects technology in customized marketing, movies, and video games, and an increase in the applications of light field imaging and display in defense, media & entertainment, healthcare, and other industries. In addition, the increasing integration of light field technology in consumer electronics products like cameras, smartphones, televisions, and others is estimated to unlock lucrative opportunities for the market’s growth in the forecast period. However, low penetration of light field technology in developing countries is anticipated to deter the market’s growth.
The report segments the global light field market into component, end user, and region.
Hardware (imaging solutions and light field displays) Sub-Segment to Grab a Foremost Share of the Market
The hardware (imaging solutions and light field displays) sub-segment of the component segment is foreseen to grow massively by garnering $627.4 million in the forecast period. This growth is mainly owed to the increasing demand for hardware components used in light field technology is rising owing to the increasing uses of this technology in imaging applications like 3D modelling, 3D scanning, layout & animation, 3D rendering, and image reconstruction.
Healthcare Sub-Segment to Grow Remarkably
The healthcare sub-segment of the end user segment is expected to hit $257.4 million in the forecast period. This is primarily due to the growing demand for medical imaging has fortified the use of 3D technology, which has fueled the growth of the light field market.
Asia-Pacific Light field Market to Perceive Maximum Growth
The report analyzes the global light field market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to hit $256.7 million in the estimated period. This growth is mostly due to the growing contribution of major countries including China, India, Japan, and the rest of the APAC in the development of 3D displays and 3D image sensors in the 3D imaging industry.
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Top Players of the Global Light Field Market
The report states some of the foremost players operating in the global light field market including
- FoVI3D
- Avegant Corp
- OTOY Inc.
- Light Field Lab, Inc.
- Google Inc.
- WOOPTIX S.L.
- Japan Display Inc.
- Toshiba Corporation
- Fathom Optics
- Raytrix GmbH, and others.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market. – Inquire Here to Get the Full Report
For instance, in December 2021, K|Lens, a German start-up, in cooperation with Carl Zeiss cooperation, a foremost technology enterprise operating in the fields of optics and optoelectronics, launched the world’s first light field lens that is compatible with any full-frame camera.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Light Field Market:
- Why is the Demand for Light Field Imaging Technique on Rise?
- Light Field Photography: Enabling to Experience the Best with Innovation and Technology
