Light Field Market will reach USD 5.98 billion by 2032, at a CAGR of 15.00% during the forecast period 2023-2032.
Market Analysis
The global light field market will touch USD 5.98 billion at a 15.00% CAGR by 2032 as per the latest Market Research Future report.
Key Players
Key players profiled in the global light field market report include.
• Raytrix GmbH
• FoVI 3D, Inc.
• Avegant Corp.
• Lumii Inc.
• Holografika
• OTOY Inc.
• Google LLC.
• NVIDIA Corporation
• Leia Inc.
• Samsung Display Co., Ltd.
• Light Field Lab, Inc.
• Panasonic Corporation
• Ricoh Innovations Corporation
• TOSHIBA CORPORATION
• Apple Inc.
• Sony Corporation
• Pelican Imaging Corporation
• Lytro, Inc.
• Japan Display Inc.
• LG Display Co., Ltd.
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Drivers
Increasing Use in Media and Entertainment to Boost Market Growth
The increasing use of light field in media and entertainment will boost market growth over the forecast period. It is widely used in various application areas like amusement parks theatres, and gaming. The manufacturers that are engaged in the gaming industry are improving the experience of the customers via integrating VR into the games. Various players are creating AR-based gaming and entertainment goods. Besides, the technology adoption in other entertainment application like museums, amusement parks, & other fun zones is in fact being witnessed that will go up in the years ahead thus fuelling market growth.
Opportunities
Growing Need for HD Picture Quality to offer Robust Opportunities
The growing need for HD picture quality will offer lucrative opportunities for this market in the forecast period. HD improves the viewing experience & interactivity of users with display screen. The consumers in fact are shifting focus to HD from traditional video or image qualities for the enhanced features & resolution of scenes.
Restraints and Challenges
High Cost of R&D Proficiencies to act as Market Restraint
The high cost of R&D proficiencies, privacy concerns, increasing software corruption, and limited technical knowledge may act as market restraints over the forecast period.
Market Segmentation
The global light field market is bifurcated based on verticals and technology.
By technology, hardware will lead the market over the forecast period.
By verticals, media and entertainment will domineer the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic brought a lot of uncertainties across industries. This has impacted the market growth for light field badly. This is chiefly on account of the cinemas getting closed for the spontaneous COVID-19 spread. Besides, the countless postponements and delays in release of events along with production chaos have also dropped the camera manufacturing’s worth thus impacting market growth.
Regional Analysis
North America to Head Light Field Market
North America will head the market over the forecast period. Companies are spending heavily on 3D imaging for the technological advances that is fuelling market growth. The US had the utmost market share followed by Canada.
Europe to Have Admirable Growth in Light Field Market
Europe will have admirable growth in the market over the forecast period for the growth of the next-generation technology in VR, personalized marketing, creation of visual effects in video games and movies, and growing need for prototypes.
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