HOLOGRAPHIC DISPLAY MARKET KEY INSIGHTS:

The Holographic Display Market Size was valued at USD 2.85 Billion in 2023 and is expected to reach USD 17.71 Billion by 2032 and grow at a CAGR of 22.55% over the forecast period 2024-2032.

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The Holographic Display Market had been seeing much momentum lately due to technological innovations and increased interest in the sector worldwide. Increasingly, the technology found applications across industries in the healthcare, automotive, and consumer electronics industries. Japan and China certainly emerged as great players in developing and adopting holographic technology, backed by strong tech ecosystems. In the US, the growth continued to be strong with huge investments in research and applications in medical imaging and augmented reality. In the region, France and Germany primarily took the lead in advancing market expansion through government-driven initiatives in advanced display technologies. It can be seen that this country has enormously upped the demand for holographic displays - both in education and medical imaging - primarily due to increasing growth in its tech industry and, of course, support from the government for advancements in digital technology.

Holographic displays are constantly being rewritten with advancing technology. For example, researchers at Princeton University and Meta have developed a miniature optical device that provides magnification for the hologram while clearing out details. This device, small enough to hang on a pair of spectacles, could change immersion in virtual reality. Besides this, 3D projection with lasers and full colour laser holography have provided unprecedented levels of visual fidelity in displays and depth perception: in 2023-2024 high-definition holographic medical imaging monitoring has been launched, aiming to improve the accuracy for diagnosis and surgical planning. A Norwegian health-tech start up, HoloCare is scaling the commercial footprint across the UK and Europe as it has obtained the UKCA and CE Certification. This mixed reality and AI-powered platform will first be launched in five hospitals and used for pre-surgical planning support. The software creates interactive 3D Holograms of an individual patient's organ, enabling surgeons to precisely plan and personalize surgeries according to their unique anatomy.

The future is bright for the holographic display market, especially in automotive applications, where heads-up displays enhance safety and navigation. Other areas are equally crucial, such as medical, where holographic imaging enhances visualization of complex surgeries and results in better patient outcomes. Studies show this potential, especially with Society 5.0 in Japan and the integration of advanced holography into China's technological growth. These trends then form a perfect foundation for continued growth through 2024 and beyond.

Holographic Display Market Dynamics

KEY DRIVERS:  

• Retail and automotive sectors have increasingly resorted to holographic displays to render immersive experiences and interactivity.

In 2023, most of high-end automotive showrooms worldwide embraced holographic technology to enhance visualization. This trend is fuelled by the fact that it can display highly detailed three-dimensional views of products, increasing higher consumer interest and engagement. Retailers can profit from product presentation in dynamic form because of improvements in conversion rates. Innovation programs run by the government and industry push it even further, displaying the potential that holographic displays can provide in changing the customer experience.

• Advancements in medical imaging are driving adoption in healthcare; already more than half of the hospitals used them in 2023.

One of the strong adopters of holographic display technology is in the healthcare industry; its utilization rate in major hospitals is more than 50% by 2023. Holographic imaging has significant benefits for complex medical diagnostics, surgical planning, and training. In Japan, several AI-based medical applications have been developed and commercialized to improve diagnostics and patient care. For instance, an advanced visualization and analysis software for medical imaging is offered by Japanese firm Ziosoft. Their solution includes advanced visualization in 3D, 4D, and 5D for CT, MRI, and modalities allows for enhanced visualization and quantification of anatomical structures. In contrast to other conventional 2D imaging, holograms provide a view of 3D which allows anatomical structures to be better assessed by medical professionals. The push for precision medicine and the continued emphasis on improving patient outcomes will further boost demand for holographic displays in 2024. Clear support from government health departments advocating for cutting-edge imaging solutions reinforces the demand for healthcare policies that look to advance technology-driven measures.

RESTRAIN:

• High production and operational costs limit wider adoption of holographic displays.

The holographic display technology solely relies on sophisticated components such as light modulators, lenses, and digital micrometers which only require specialized manufacturing processes, making the technology very costly. As a result, it is a very costly investment for industries to take on holographic displays, especially for SMEs. Apart from this, the updating and maintenance also involve training and technical expertise that enhances the operation cost.

However, such advanced technology can only be deployed by more prominent organizations such as automobile and healthcare companies, but other smaller players may not be able to justify the installation cost. Government funding and industry partnerships will assist in these expenses but probably be justified only if fully implemented with additional developments that make the overall production cost cheaper.

Holographic Display Market Segmentation Analysis

BY DIMENSION

In 2023, the majority were 3D display applications accounting for 76%. Three-dimensional dominance is because 3D technology is very commonly used in various fields, such as advertising, entertainment, and medical imaging, where three-dimensional visualizations provide a better depth of view and interactive capabilities. The point of 3D is that it creates lifelike, immersive experiences, which find great applications in enhanced visualization-based requirements.

However, growth for 4D display including time and motion is expected to skyrocket at the highest CAGR of 25.81% during 2024-2032. That is because higher immersive experience is expected in virtual and augmented reality applications with 4D, as it interacts more and engages more compared to 3D.

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BY COMPONENT

In 2023, the component with the highest market share was the Lens with 76% because it is used as a medium for focusing and focusing the light to form sharp and high-quality holographic images. These involve smaller sizes that are to be used either in large displays or consumer electronic devices, necessitating the utilization of lenses in the overall application of the device, thus making it very extensive.

Digital Micrometers shall lead in growth with 23.83% CAGR from 2024 to 2032 due to further innovations in microfabrication and precision engineering, with the improvements observed to make holographic displays better at resolution and quality. The integration of digital micrometers enables finer control over the output of the display for supporting high-resolution medical imaging and other high-precision applications.

Holographic Display Market Regional Outlook

North America held the highest share of 34% in the holographic display market in 2023. This can be explained by the strong infrastructure in terms of technology in the region, a high adoption rate in sectors such as healthcare and entertainment, and continuous investments in research and development. In addition, the presence of leading companies and research institutions further supported the growth in this market.

The Asia Pacific region would grow at the fastest rate, during the forecast period of 2024 to 2032, at a CAGR of around 23.30%. Support for the growth is obtained through rapid development in technology, strong support through innovation from the government, and increases in demands for advanced display technology in countries such as China, Japan, and India. Such national policies in these countries to support immersive technologies include offering incentives for the adoption of technology and investments in R&D.

Major Players in the Holographic Display Market are:

• Holoxica Ltd (Holographic medical displays, Holographic 3D maps)

• RealView Imaging Ltd (Holographic imaging system, Surgical holography solutions)

• Musion 3D Ltd (Holographic stage performances, 3D projection systems)

• Looking Glass Factory Inc. (Holographic desktop displays, 3D visualization software)

• Provision Interactive Technologies Inc. (Holographic kiosks, 3D advertising displays)

• HYPERVSN (Holographic display units, 3D projection hardware)

• Leia Inc. (Holographic smartphone screens, Lightfield displays)

• Zebra Imaging Inc. (3D holographic prints, Holographic mapping solutions)

• AV Concepts (Event holography, Holographic projection services)

• Microsoft Corporation (HoloLens, Mixed reality headsets)

• Sony Corporation (Holographic displays, 3D visualization tools)

• Samsung Electronics Co., Ltd. (Holographic display panels, Advanced display technology)

• Voxon Photonics (3D volumetric displays, Holographic video systems)

• Ostendo Technologies, Inc. (Holographic display technology, Quantum photonics)

• Realfiction Holdings AB (Mixed reality displays, Holographic storytelling solutions)

• MDH Hologram (Holographic event technology, Digital holographic projection)

• LitiHolo (DIY holography kits, Educational holographic products)

• Dynavision Corporation (Holographic advertising displays, 3D projection solutions)

• Qualcomm Technologies, Inc. (Holographic processors, 5G-integrated holographic components)

• VividQ Ltd (Holographic display software, Holographic visual solutions)

MAJOR SUPPLIERS (Components, Technologies)

• Corning Incorporated (Optical glass, Advanced display materials)

• 3M Company (Reflective films, Light management solutions)

• Dow Inc. (Adhesives, Coating materials)

• Merck KGaA (Liquid crystals, Display materials)

• Sumitomo Chemical Co., Ltd. (Optoelectronic materials, Specialty chemicals)

• Nitto Denko Corporation (Polarizing films, Display components)

• Shin-Etsu Chemical Co., Ltd. (Silicon products, Display-grade chemicals)

• Asahi Glass Co., Ltd. (AGC Inc.) (Glass substrates, Display materials)

• LG Chem Ltd. (Display films, Optical materials)

• JNC Corporation (Liquid crystal materials, Electronic components)

MAJOR CLIENTS

• Medical centers and hospitals (e.g., Mayo Clinic, Cleveland Clinic)

• Automotive manufacturers (e.g., Tesla, BMW)

• Tech giants (e.g., Apple, Google)

• Retailers (e.g., Walmart, Target)

• Event and entertainment companies (e.g., Live Nation, Cirque du Soleil)

• Defense and military contractors (e.g., Raytheon, Lockheed Martin)

• Educational institutions (e.g., Harvard University, MIT)

• Advertising agencies (e.g., WPP, Publicis Groupe)

• Research organizations (e.g., Fraunhofer Institute, R&D labs)

• Architectural firms (e.g., Foster + Partners, Gensler)

RECENT TRENDS

• September 2024: Hyudai Mobis is reportedly going to replace the screens in your car with holographic projections on the windshield. For this to happen, Hyundai will be in close collaboration with Zeiss, and this may go into mass production from early 2027. This will involve a high-tech projector and a thin film that would be applied to the windshield.

• August 2024: Developer in the field of computational Holography Display Technology, VividQ, has completed another USD 7.5 million in Series A funding. The funding rounds bring the company's total amount raised to over USD 30 million. The funding will support the opening of the U.S., which will be operated as an office, as well as the company's product development roadmap, including expanding the availability of the technology to existing and new global business partners.