Holographic Display Market Report 2024 - Holographic Display Market Demand And Growth

"The Business Research Company recently released a comprehensive report on the Global Holographic Display Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The holographic display market size has grown exponentially in recent years. It will grow from $1.70 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to automotive HUDS (heads-up displays), decreasing cost of components, rising adoption in medical imaging, and growing demand in the entertainment industry.

The holographic display market size is expected to see exponential growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The growth in the forecast period can be attributed to increasing demand for 3D visualization, rising adoption in gaming and entertainment, growing advertising and marketing applications, increasing investments in smart glasses, and demand for portable and lightweight displays. Major trends in the forecast period include technological innovations, integration with IoT and smart home systems, the emergence of wearable holographic devices, advancements in medical imaging, and advancements in medical imaging.

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Market Drivers and Trends:
The expansion of the automotive industry is expected to boost the growth of the holographic display market going forward. The automotive industry encompasses all companies and activities involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. The automotive industry is expanding due to increasing demand for urban mobility, technological innovations, and government initiatives promoting sustainable transportation solutions. Holographic displays in the automotive industry enhance driver assistance systems and provide immersive experiences for navigation and entertainment. They are used in head-up display (HUD) systems to project essential driving information directly onto the windshield or a transparent screen in the driver's line of sight. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, global motor vehicle production in 2022 totaled 85.4 million units, marking a significant 5.7% rise compared to 2021. Therefore, the expansion of the automotive industry is driving the growth of the holographic display market.

Major companies operating in the holographic display market are focusing on the development of advanced products, such as portable holographic displays, to boost their revenues in the market. A portable holographic display refers to a compact device that generates three-dimensional (3D) holographic images or visual effects without the need for specialized glasses or viewing aids. It provides numerous benefits, such as space-saving design, improved communication, increased engagement, versatile applications, and enhanced mobility. For instance, in December 2023, Looking Glass Factory Inc., a US-based 3D design services company, launched Looking Glass Go, a holographic display that folds up into a pocket-sized device that is incredibly portable. This portable holographic display merges high-resolution holograms with the creative prowess of AI. Looking Glass Go, which shrinks the holographic experience down to the size of a cell phone, claims to make it easier and more accessible to convert 2D and 3D visuals, including ChatGPT characters, into vivid, lifelike holographic projections. Leveraging the technology of this equipment, several viewers can view holograms simultaneously in 3D without the use of headsets or head-tracking technology.

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Major Key Players of the Market:
Infinite Z Inc., Zebra Imaging Inc., Hypervsn, Magic Leap Inc., Holotech Switzerland AG, Ostendo Technologies Inc., Eon Reality Inc., WayRay AG, Base Hologram, Displair Inc., Kino-mo Ltd., Leia Inc., Portl Inc., Light Field Lab Inc., Provision Holding Inc., Voxon Photonics, Holografika Kft., Realfiction Holdings AB, Holoxica Ltd., Geola Digital Ltd., HOLOEYE Photonics AG, MDH Hologram Ltd., Lumii Inc., Realview Imaging Ltd., Looking Glass Factory Inc.

Holographic Display Market 2024 Key Insights:
• The holographic display market size is expected to see exponential growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%.
• Automotive Industry Expansion Propels The Holographic Display Market 
• Advancements In Portable Holographic Displays
• North America was the largest region in the holographic display market in 2023

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This release was published on openPR.