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The light field market is likely to grow at a CAGR of 14.5% between 2018 and 2023
The light field market was valued at USD 924.7 million in 2018 and is expected to reach USD 1,822.3 million by 2023, at a CAGR of 14.5% during the forecast period. Major factors driving the growth of the light field market includes the increasing demand for light field technology in visual effects technology in movies, justintime marketing, rising need of prototyping, and emerging 4D 5D technologies. However, the lack of infrastructure support to implement light field imaging is hindering the growth of the market. The lack of availability of 3D content poses a crucial challenge for this market.
3D rendering is growing substantially among other imaging solutions
The complete range of 3D imaging solutions includes 3D modeling, 3D scanning, layout and animation, 3D rendering, and image reconstruction. The market for 3D rendering is expected to grow significantly owing to the increased demand from the media and entertainment industry for improved imaging. The increased emphasis on virtualization software is fostering the growth of the 3D rendering market.
Media and entertainment vertical is expected to register the highest growth rate between 2018 and 2023
In 2017, the healthcare and medical vertical held the highest market share, whereas the media and entertainment vertical is expected to register the highest growth rate during the forecast period. Light field market is expected to register the highest growth rate in media and entertainment vertical with high focus on auto stereoscopy. Auto stereoscopy is used for displaying stereoscopic pictures without wearing any glasses. This technology works with the help of motion parallax and wide viewing angle. It helps in providing viewers an illusion of 3D imaging. Presently, auto stereoscopy is used in augmented reality AR and virtual reality VR systems.
North America held the highest market share in the light field market in 2017
North America held the highest market share in the light field market in 2017. Organizations in North America are extensively investing in light field and 3D imaging for technological advancements to fuel the market growth. This region has been amenable toward adopting light field and 3D imaging within the companies for enhancing visualization and augmented customer experience.
APAC is emerging as the potential market for solutions based on the light field technology. This region is adopting light fieldbased 3D technology and its solutions significantly. Moreover, this region having high population, along with continuously increasing purchasing power and indepth knowledge of advance technologies, boosts the growth and implementation of the light field and 3D imaging technology.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:
By Company Type: Tier 1 = 50%, Tier 2 = 33%, and Tier 3 = 17%
By Designation: CLevel Executives = 50%, Directors = 33%, and Others = 17%
By Region: North America = 34%, Europe = 33%, and APAC = 33%
In 2017, the overall light field market was dominated by Lytro US, Avegant US, FoVI 3D US, Japan Display Inc. JDI Japan, and OTOY US. Other major players in the Light field market include Light Field Lab US, Holografika Hungary Lumii US, Raytrix Germany, Leia US, NVIDIA US, Toshiba Japan, and Ricoh Innovations US.
The report estimates the market size and future growth potential of the light field market across different segments such as technology, vertical, and geography. Moreover, the report includes the value chain, market dynamics, and competitive analysis of the key players in the market, along with their company profiles and recent developments.
Key Benefits of Buying the Report:
The report would help the market leaders/new entrants by providing them the closest approximations of the revenue numbers for the light field segments and subsegments. Moreover, this report would help stakeholders to understand the competitor landscape better and gain insights to strengthen their businesses and have suitable gotomarket strategies. Furthermore, this report helps the stakeholders to understand the pulse of the market, and provides them information on key market drivers, restraints, challenges, and opportunities.
Original Article: Light Field Market by Technology Imaging Solution, Display, Vertical Healthcare and Medical, Defense and Security, Media and Entertainment, Architecture and Engineering, Industrial, and Geography Global Forecast to 2023 [Report Updated: 24012018] PricesNEXT ARTICLE
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