New York, USA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The Covid-19 pandemic has negatively affected the volumetric display market due to a decline in the demand of the product. According to a report published by Research Dive, the global volumetric display market is predicted to garner revenue of $975.1 million by 2026, from a substantial market size of $132.5 million in 2018. The market is accounted to rise considerably with a CAGR of 28.0% in the estimated forecast period. Despite the coronavirus pandemic, the market is predicted to recover by Q1/Q2 of 2022.

The report encompasses in-depth perceptions of the current and future growth of the market worldwide. These predictions are put forth by analyzing important aspects such as major drivers, size and scope, limitations, advances, newest trends, and the status of regional markets during the pandemic phase.

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Factors Affecting the CAGR Figures in Pre and Post Covid-19 Scenario

The CAGR of volumetric display market is predicted to be at 28.0% during the Covid-19 outbreak, however this market was anticipated to be at 29.0% before the coronavirus crises overtook the world. Certain guidelines regarding lockdown initiated by the World Health Organization (WHO) to curb the spread of the coronavirus disease is accounted for the market decline in 2020. Furthermore, about 70.0% of industries went under partial lockdown due to which the volumetric display market has experienced a major downfall. These factors are responsible for the negative growth of the market during the pandemic phase.

Factors Affecting the Market Size in Pre and Post Covid-19 Situation

The volumetric display market was expected to generate significant revenue of $226.5 million before the Covid-19 outbreak. However, the current market figures have slipped drastically due to the pandemic and the new market size is predicted to be at $178.5 million in 2020.

Volumetric display is utilized for several medical applications such as diagnosis purpose, 3D printing, and imaging. Despite the use of volumetric displays in medical sector, the market is facing a downfall as healthcare facilities are striving to treat patients during the pandemic. Furthermore, according to a survey carried out by Conceptual MindWorks, the usage of telemedicine has enhanced but the patient’s size remains low during the pandemic. This is another factor that is responsible for the market decline during the pandemic.

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Post Covid-19 Situation of the Market

The volumetric display market is anticipated to grow after the coronavirus situation is brought under control. The market will grow in the forthcoming years due to the rising demand for the 3D holographic displays and opting for commercialization of volumetric displays. Moreover, several key market players are focusing on novel technologies and product developments, for instance, a startup named VividQ, has created a real time holographic display platform that is a combination of applications utilized in several industries.

Some of the prominent volumetric display market players are -

  1. ALISCOPY
  2. Zebraimaging
  3. LightSpace Technologies
  4. Leia Inc.
  5. Holografika
  6. The Coretec Group Inc.
  7. SEEKWAY
  8. VOXON PHOTONICS
  9. Holoxica Ltd
  10. Bruton Snowboards

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Related Link-

Innovations In The 3D Displays During COVID-19 Pandemic Will Fuel The Growth Of Global Volumetric Display Market

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