Increase in demand for 3D technology in the gaming and entertainment industries is observed to be one of the prominent factors opening up avenues for the 3D display market. Owing to the increasing number of 3D films, the number of cinema screens facilitating 3D display are on a rise. The gaming industry has been witness to many advancements in terms of technology, gaming experience and graphics. The penetration of 3D technology into the thriving gaming industry is stimulating the 3D display market growth. The global 3D display market was valued at $46.73 billion in 2018, and it is estimated to grow at a CAGR of 25.94% in the forecast period 2018 to 2023.
The IndustryARC report titled, “3D Display Market: By Technology (Volumetric, Stereoscopic, Head Mounted Displays & Others) Type(DLP, Plasma Display Panel, Organic LED, LED & Others) By Application (Automotive, Aerospace & Defense, Gaming, Retail, Others)-Forecast(2018-2023)”, contains insights pertaining to the market in different regions along with the forces and trends that are disrupting market growth and creating future opportunities.
3D Display Market: Leading Segments
North America is leading the 3D display market with a share of 37.48% in the total market demand. Increase in adoption of 3D technology in various applications across industries such as medical, defense, automotive and education is driving demand for 3D displays. Penetration of 3D technology into consumer electronic products including TVs, smartphones, tablets, and computers have led to North America holding the majority market share.
On the basis of application, the 3D display market is segmented into automotive, aerospace and defense, gaming, and retail. Automotive is found to be the major application segment, estimated to be growing at a CAGR of 34.27% through to 2023. Increasing adoption of 3D technology and the booming automotive industry are driving growth of the 3D display market.
3D Display Market Disruptive Trends
· Glasses-free 3D Displays:
Auto-stereoscopic 3D screens or glasses-free 3D displays eliminate the need for eyewear to view images in 3D, and are thus more user-friendly. Since the 3D images can be viewed by the naked-eye, it leads to a more enhanced user experience and thereby allures more customers. This technology is used multifarious applications such as corporate events, trade shows, exhibitions, seminars, POS, shop fronts, to dramatically enhance consumer engagement. Thus the increasing popularity of glasses-free 3D displays among customers is disrupting the 3D display market.
· 3D Holograms:
3D holograms are gaining traction in the advertising sector, as they are an innovative way of exhibiting products and making retail displays more attracting. This technology is also being adopted in various applications at hotels, supermarkets, airports, restaurants, and hospitals.
3D Display Market: Competitive Landscape
Some of the key companies identified in the 3D display market report that are striving for the major market share are LG Electronics Inc., Samsung, Panasonic Corporation, Sony Corporation, AU Optronics, Fujifilm Holdings Corporation, Toshiba Corporation, Sharp Corporation, Coretec Group, Innolux Corporation, Japan Display Inc., BOE Group, and China Star Optoelectronics Technology Co., Ltd.
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