New York, USA, June 25, 2020 (GLOBE NEWSWIRE) -- The COVID-19 or coronavirus sudden outbreak has had a significant effect on various industries and the Volumetric Display Market is one of the tremendously affected industries all over the world in recent months. Soon after the pandemic, the external boundaries of all countries have been closed to prevent intercepting persons affected by COVID-19. A number of countries are taking several steps to tackle this pandemic by banning social events and introducing different regulations. The WHO has revised organizational guidelines for the management of coronavirus spread due to the widespread use of coronavirus. As a result, about 70.0% of the world's industries are partly regulated under these directives. These factors will certainly influence the growth of volumetric displays, and market growth will undoubtedly decline. This is mostly because medical diagnostic procedures are complicated during a coronavirus epidemic to support patients.
The COVID-19 have created a negative impact in the growth rate of volumetric display market. Request report: https://www.researchdive.com/covid-19-insights/191/volumetric-display-market#myQueryForm
Our Report Includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
A new report by Research Dive states that the global volumetric display forecast by 2026 will exceed $975.1 million, from $132.5 million in 2018 up by 28% CAGR, according to a recent research report by Research Dive. The report delivers in-depth insights into opportunities, vital segments, restraints, drivers, and prominent players of the global market. Our analysts stated that the versatile applications in medicine, defence, cars, and other applications were the exclusive properties of volumetric display technology, including 360-degree photography, virtual image creation with a wide view angle, project images in 3D, and other features. One of the main contributors to the growth of the volumetric display market over the forecast period is technological progress in 3D volumetric displays. However, high costs and complex production processes can prevent the growth of the volumetric displays market over the forecast period. The global market is segmented based on display type, application, and region.
While there has previously been a significant increase in the volumetric display market, the global market will suffer an unexpected decline in 2020, as a result of the COVID-19 outbreak, as product demand will decline. This is partly because people are increasingly aware of the spread of the virus, as it can partly be transmitted through human contact. Due to the shutdown of several production units worldwide, the market may experience a decrease in product availability. During the COVID-19 outbreak, our analysts forecast and came to the following findings the performance of the volumetric displayed market.
The Static Volume Display Type Predicted to Garner a Significant Share in the Market
The global volumetric market is segmented based on display type into swept volume display, static volume display, and multi-planar volumetric display. Among these, static volume display type segment accounted for $66.3 million in 2018 and is projected to reach up to $482.7 million by 2026. There has been an increasing implementation of static volume displays for petroleum sector for visual representation of oil & gas flow, along with finding applications in airport security operations. These aspects are anticipated to surge the market size in the near future. Swept volume display type also accounted for a considerable global market share in 2018 and is likely to witness substantial growth in the coming years. The growth in the swept volume display type can be attributed to manufacturers focusing on development of novel displays for the design of auto stereoscopic swept volume displays based LED screens.
Medical End-Use Industry to Generate the Highest Revenue
Based on the end-use industry, the global market is segmented into medical, aerospace & defence, automotive, media, communication & entertainment, education & training, and others. The medical segment dominated the industry in terms of share in 2018 and is projected to grow at a CAGR of 28.8% during the forecast period. The increase in the use of volumetric displays in medical imaging applications is expected to encourage market growth to achieve real-time visualization when carrying out operations or surgeries. In addition to the medical industry, the aerospace and defence terminal industry is registered in the world market for second place and is forecast to earn $215 million by the end of 2026. Growing demand for aerospace and defence volumetric displays for enhanced efficiency, planning, and mission danger by providing a visual representation of surrounding ground, sea, air, and other knowledge & details. In the forecast period, this factor would affect the market size.
Asia-Pacific Region to be Lucrative
The global volumetric display market would expand dramatically in the area of Asia-Pacific with a 28.5% CAGR, and the global market is expected to deliver ample growth opportunities over the forecast period. The demand for volumetric display in Asia-Pacific regions is increasing in the electronics industry, which accelerates the market growth. Furthermore, as there are mass production facilities available, developing Asia-Pacific countries like China and India are expected to generate substantial investment opportunities that will boost the market growth in the period projected.
Who are Top 10 Key Players in Volumetric Display Market?
Some of the key players of the global volumetric display market include
- LightSpace Technologies
- Holografika
- Holoxica Ltd
- Leia Inc.
- ALISCOPY
- The Coretec Group Inc.
- VOXON PHOTONICS
- Zebraimaging
- Bruton Snowboards
- SEEKWAY.
Recent Developements in Volumetric Display Market
These players are adopting several strategies such as mergers & acquisitions and novel product developments to improve their company position in the global industry. Many industry participants depend on product innovation and the adoption of new technologies to become competitive. For example, VividQ, a 3D holographic technology software start-up, has developed a real time holographic display platform which can be used in a wide range of industries.