Report : 3D Display Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Stereoscopic 3D Display and Autostereoscopic 3D Display), Technology (Digital Light Processing, Organic Light Emitting Diode, and Light Emitting Diode), and Application (Consumer Electronics, Automotive, Medical, Advertising, Retail, Military and Defense, and Others), and Geography
According to the new research report, titled “3D Display Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Stereoscopic 3D Display and Autostereoscopic 3D Display), Technology (Digital Light Processing, Organic Light Emitting Diode, and Light Emitting Diode), and Application (Consumer Electronics, Automotive, Medical, Advertising, Retail, Military and Defense, and Others)” published by The Insight Partners, the market is expected to reach US$ 2,253.23 million by 2027, registering a CAGR of 22.6% from 2020 to 2027.
In 2020, the COVID-19 outbreak restrained the growth of the global 3D display market to some extent due to business shutdowns and decline in demand from end-customers—especially in retail and advertising sectors. The cancellation of events, exhibitions, and restrictions on mass gathering events are among the factors that hindered the demand for 3D displays worldwide. Thus, there was a decline in y-o-y growth in 2020. The uncertainty around the outbreak and government restrictions on various aspects may impact the growth to some extent in the near future also. However, the growth is expected to normalize from 2021 onwards and the market is projected to grow at an impressive pace in the coming years.
3D Display Market in APAC to Grow at Highest CAGR during 2020–2027
The 3D Display market in APAC has been analyzed based on historical, current, and future trends in the countries across the region. The 3D Display market in APAC is further segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. There is an increase in adoption of applications, such as public display advertisement and digital photo frame, in the region. Hence, 3D display applications are anticipated to grow substantially in the region. As the region continues to innovate in technology, 3D displays installed in South Korea and China are blowing people’s minds away. For instance, in January 2021, in China, a 90-degree curved LED digital public installation was set in a commercial hub captivating people with its spectacular 3D effect video. A 3D video of a lion growling, chasing, and breaking out from the screen has been broadcasted in China. Besides, a 3D video of Star Trek-like spaceships emerging from behind a wall, to the screen to flying to space in front of it and another is of a flying saucer has also broadcasted on 3D display screen. These videos can be seen without putting 3D glasses on. As per the Arirang News, a magnificent digital wave, developed by Samsung, was displayed on a 3D display screen in Seoul and it is considered as the largest digital billboard in South Korea.
In South Korea, media & entertainment is one of the biggest industries, popularly known as Korean pop (K-pop) and is attracting viewers by implementing cutting edge technology. For instance, in December 2020, members of Bangtan Sonyeondan (BTS), who are globalizing K-pop, impressed their audience at the Mnet Asian Music Awards with a virtual stage and content based on advanced technologies, such as 3D visual effects and extended reality (XR). During the award show, one of the members appeared on a stage with bright hologram version—which is a photographic recording of a lightfield used to display a 3D image of the holographic subject. Innovative technologies have been used for numerous online concerts by various K-pop bands during the COVID-19 pandemic. Thus, due to rising popularity of 3D technology, the demand for 3D displays is likely to fuel in the near future.
In 2011, LG Electronics introduced its LG Optimus 3D smartphone after the 3D film “Avatar” gained popularity across the world, including Asia, stimulating a rush of 3D films and interest in the technology. However, due to the lack of content for 3D phones, especially based on games for Android and lack of adoption across high-volume Android handset vendors the 3D phones failed in the market. Carrier and handset representatives declared that the 3D content ecosystem was not robust enough to aid continued development of 3D smartphones. As per the LG Electronics, the acceptance of 3D phones is still some years away. The demand for 3D smartphones would gain traction in the market in the coming years, which would fuel the market growth during the forecast period.
Key Findings of Study:
The present 3D display market is in its nascent stages of growth cycle, and companies operating in the market are investing heavily in research and development to bring successful 3D display systems to the commercial market. The key application areas of current 3D displays is in marketing and advertising sectors. Medical, automotive, and defense are expected to be a few of the largest growth potential areas for the global 3D displays market during the forecast period. The prospective application areas of 3D display technologies could be unprecedented in number depending on the positive growth and technology development in the market.
3D display technology and system developers along with end-use industries are taking several initiatives, such as partnerships and investments. A few of the key developments in this regard are listed below:
• In 2020, Continental announced the launch of its volume-production display featuring an autostereoscopic 3D technology in its HMC Genesis GV80 variant. In addition, the company is developing a new 3D display based on 3D Lightfield Technology from Leia Inc. to ensure an immersive 3D experience for front and back passenger in cars.
• In 2019, Volkswagen acquired a minority stake in the leading holographic display technology company SeeReal Technologies. Holographic display technology offers a huge potential for future automotive applications and interaction solutions for drivers and passenger in cars.
• In 2019, Light Field Lab, a holographic display technology company raised US$ 28 million for building of huge holographic displays. Bosch Venture Capital, Taiwania Capital, Hella Ventures, Samsung, Verizon Ventures, Liberty Global Ventures, Comcast, Acme Capital, NTT Docomo Ventures, and R7 Partners are among the key investors in the company.
• In 2017, RED (a renowned camera making company) partnered with Leia Inc. (a developer of light field holographic display) to develop its RED Hydrogen One phone with a holographic screen. The product was launched but discontinued later due to lack of response from customer side during that time. However, this partnership showed the potential of holographic displays in future smartphones.
Hence, the growing number of investments and partnerships for the development of 3D display technologies are anticipated to offer lucrative opportunities for the global 3D display market during the forecast period.