The global holographic display market size is estimated to progress at a healthy CAGR of 29.8% during the forecast period 2020–2027.
Holographic displays use acoustic-optic materials and spatial light modulators (SLMs) to project computer-generated holographic (CGH) images by a system using lasers and mirrors. However, the quality of such 3D images is superior to other images generated by various techniques whose applicability is limited due to the complex algorithms of the hologram. Holographic displays have various applications primarily in media and entertainment as well as different research, and development programs are underway for applications like healthcare, marketing, and advertising, IT & telecom, and government & education. In 2015, a study was conducted in a university in South America for checking the limitations of holographic projections where 22 students participated. The result stated 81 percent of students felt the presence of a professor during the usage of a hologram for displaying teacher, while 95 percent of students accepted the temporary use of a holographic professor.
The up-gradation and improvement of digital cameras, network connection, data usage and speed, and implementation of artificial intelligence for rendering holograms in real-time are providing new opportunities for businesses regarding holographic displays. Intelligent holograms are bringing potential leading-edge technology. It has various characteristics such as portability and democratization, source capturing technology, sensor information streams, intelligent reconstruction, and processing power and connectivity. However, there are different technical challenges such as ergonomics, the field of view, and battery life that are required to overcome in the coming years. Holographic displays are also useful in military mapping, information storage, medical systems, fraud and security, and arts.
The market size of holographic display market was estimated at USD 2,771 Mn by the end of 2019, prominent manufacturers are making investments in research and development activities to develop holographic display solutions integrated with immersive technology, which has been observed as a considerable advancement for the market.
Though the holographic display is at a nascent stage, it is on the verge of achieving deeper penetration into the healthcare sector. Holographic imaging is likely to attain a steep growth during the forecast period 2018–2025, owing to its applications in medical academia, medical imaging, and healthcare research. Increased focus on developing holographic technologies for the medical sector by various companies has remarkably supported the market growth. For instance, in February 2016, Holoxica Limited secured a grant award of about USD 1.4 million from European Commission Horizon 2020 “SME Instrument” investment program to develop a 3D holographic video display specifically for medical scanners.
The main application of this system is to detect cancers and cardiovascular diseases. Additionally, it also can be adopted for medical teaching and training activities. In September 2016, Holoxica Limited launched a holographic 3D digital human anatomy atlas prototype that helps clinicians and medical experts in providing insight into the detection, diagnosis, and treatment of neurological disorders.
Gaining the attention of customers has become more difficult for brands since the use of social media for brand promotion has become a traditional strategy. Thus, the demand for new campaign solutions to attract the attention of customers and increase the sale of a particular brand or product is witnessing strong growth. However, 3D advertising commercials have evolved as an effective solution for effective product promotion with a better conversion rate.
Achieving the unparalleled visual effects of products is the primary advantage of adopting 3D advertising. 3D advertising uses animation to offer an appealing view of the product with great means of communication and display the most realistic picture of the product. 3D advertising commercials also could be applied across various mediums such as TV, social media outlets, and others. Adoption of 3D advertising on social media such as Facebook, YouTube, and others offer a higher chance of leads to the products. For instance, in September 2017, Apoel FC launched an interactive 3D ad to boost the online sale of their new T-shirt. The results of this approach were outstanding with 2700 interactions, 300% higher sales, and a high conversion rate of 35%.
Additionally, in August 2017, the Cocoa-Cola Company launched the world’s first robotic 3D sign advertising billboards that change images with transition effects such as the slow-wave of water to provide the audience with an appealing view. The billboard is designed with 1760 LED screens that can move independently with programmed choreography.
Holography display technology is a useful tool in many areas such as automobile, manufacturing, healthcare, media and entertainment, aerospace and defense, and others (education and transportation & logistics). However, holographic display technology is expected to offer significant opportunities in the automobile and healthcare sectors in the upcoming years.
A holographic display in an automobile provides a 3D experience to the driver. Holography’s transparent display exhibit information or data in a manner that does not mandate the driver to look away or lose focus on the task at hand. Heads-up displays (HUD) fulfill the safety, comfort, and entertainment needs of users. It is a compelling solution for the next generation of Head-Up Displays offering a larger, brighter display, lower power consumption, and ultimately 3D augmented reality.
Holography has emerged as one of the most promising tools for the healthcare industry. In addition to medical imaging and research, holographic display technology and digital holograms are extensively used in the education industry and hospital teaching. Several companies are producing hologram systems tailored to the medical sector. For example, Zebra Imaging has developed the ZScape Holographic Motion Display. The ZS cape is an alternative to the lack of cadavers for medical students to dissect. It allows students to shift through skin layers, muscles, the skeleton, and walk around the entire body. The company has also partnered with the Zygote Media Group intending to get this technology commercialized and deployed at notable medical schools across the United States.
According to our analysis, the market for Asia-Pacific is anticipated to exhibit a commendable share in the global market. North America is a leading region in the global holographic display market owing to advancing 3D holographic display technology, growing demand in medical imaging, and the strong presence of prominent players in the respective region. For instance, in January 2015, Microsoft Corporation revealed its new technology “Windows Holographic” with HoloLens headset that provides augmented reality experience like virtual reality (VR) goggles. Moreover, Microsoft Corporation collaborated with the National Aeronautics and Space Administration (NASA) for developing HoloLens for creating their holograms.
Asia-Pacific is expected to be one of the fastest-growing Holographic Display marketplaces during the forecast period, 2018–2025, due to its extensive adoption in the entertainment industry and increasing implementation in consumer electronics and commercial segments. In June 2015, the Digital Nature Group (DNG) of the University of Tsukuba, Japan, created a 3D interactive hologram system by using ultra-fast lasers in which users can touch and interact with the image.
According to a study published in “Nature Photonics” in January 2017, a research team led by Professor YongKeun Park of the Physics Department at the Korea Advanced Institute of Science and Technology (KAIST) has developed a 3D holographic display which is 2,600 times better than 3D holographic displays available in the market. In May 2014, 3D hologram technology of “MDH Hologram” was used extensively by prominent political parties to address several rallies throughout the country, which was the first time such technology has been used in a general election campaign.
According to our analysis, the market for Holographic Display can be categorized as a fairly fragmented market; however, many global market players also hold a considerable market share due to their established distribution channel and effective marketing strategy. Holoxica Ltd. held the largest share of the holographic display market in 2017 on account of its innovative range of products and market reach. Additionally, it has also introduced the world’s first holographic three-dimensional anatomy “Atlas” prototype. This development will provide a more realistic, detailed interpretation and perspective of the underlying anatomy.
MDH Hologram held the second-largest position in the holographic display market in 2017, owing to the rapid adoption of the 3D holographic display technologies which helped the company to offer novel visual events to their clients. For instance, in January 2018, MDH Hologram collaborated with Artrooms Fair London, an international contemporary art fair for independent artists, highlighting the worldwide art trends. MDH Hologram has also collaborated with the Indian Prime Minister Narendra Modi during his political campaign in 2014.
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