The Global Light Field Market size is expected to reach $167 Million by 2027, rising at a market growth of 14.6% CAGR during the forecast period. The light field helps to estimate the magnitude and intensity of light that travels in every direction over each point in space. The light field market is likely to witness bright growth prospects due to the constant technological advancements and massive utilization of 3D imaging technologies. Factors such as the growing demand for imaging devices and emerging 4D & 5D technologies are responsible for the growth & demand for light field technology in the global market.
Factors such as huge demand for 3D high-speed video capture, visual effect technology for entertainment purposes, utilization of sophisticated and latest 4G & 5G technologies, and just-in-time marketing are playing pivotal roles in boosting the growth & demand for light field technology in the market. Moreover, increasing demand for the adoption of prototyping, artificial technologies, and medical imaging with computational abilities would create lucrative growth opportunities for the light field market.
Additionally, the entertainment & media industry can deploy this technology in museums, theaters, apps with the help of virtual reality headsets in order to appeal to end-users. This assists in obtaining real-time content with the help of micro-lens and enables the maximum fidelity of models, lighting, texture, and reflection in the case of computer graphics. The global light field market would witness bright growth prospects due to the constant innovations and massive utilization of 3D imaging.
The outbreak of the COVID-19 pandemic had an adverse impact on the growth & demand for light field technologies, thus creating disruption in the overall market. Due to this, the growth of the market witnessed a drastic decline during the first half of 2020. On the other hand, this trend would change in the latter half of the year as the demand is anticipated to fuel because of the increase in demand from the media & entertainment sector.
The value & supply chain of the light field market has significantly been impacted by the outbreak of the COVID-19 pandemic. Some of the major manufacturers of the light field are the US, Japan, and China and these nations were hit hard by the global pandemic. For this reason, the supply chain of the technology was disrupted, thus hindering the market growth during the pandemic. Currently, the industrial, healthcare, and architecture have low demand for the technology which would continue for some more time because of the global pandemic.
Light field technology is in high demand among Hollywood studios and VR companies for the purpose of cinematic and next-gen content. The entertainment sector is witnessing massive adoption of VFX that is generally called visual effects for developing visually improved imagery using computer graphics and animation. Presently, 3D animation software is helpful in such situations, in which still images are obtained and processed with the help of different kinds of 3D animation tools.
In the last couple of years, there has been extensive research in light field imaging due to its capacity to develop a natural viewing environment. Content quality and user-viewing experience have improved significantly after the advent of 3D technology. With the help of 3D technology, it is possible to offer high-definition (HD) content in order to improve the viewing experience using advanced 3D-integrated devices like VR and 3D display units.
In order to gain technical knowledge in developing light-field, it requires a long time and is a challenging task. The technicians who offer light-field imaging and develop light field displays should have the required skills and experience in 3D project development. As per the Media & Entertainment Skills Council (MESC), installing light field technology in animation is a tedious process as various animators do not have the necessary skills. Thus, it is a must to put investment in enhancing workforce skills and fulfilling the regulations of the animation industry.
Based on Technology, the market is segmented into Hardware and Software. Hardware segment is further segmented into Imaging Solutions and Light Field Displays. The hardware segment procured the maximum revenue share of the light field sensor market in 2020. The segment is likely to show a similar kind of trend even during the forecasting period. Factor such as a surge in the research for designing light field displays like VR headsets and light field screens is responsible for the growth of this segment.
Based on Vertical, the market is segmented into Media & Entertainment, Architecture, Defense, Healthcare, Industrial, and Others. VR and AR systems are the main applications of auto stereoscopy. AR technology is extremely helpful in enhancing the perception of reality among viewers on screens or glasses. Likewise, VR technology also changes the real world with a simulated one on screen and glasses. Support devices, hardware, and software are included in the light field display development kit and they allow the companies to develop industry-leading mixed-reality products.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 60.4 Million |
| Market size forecast in 2027 | USD 167 Million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 14.6% from 2021 to 2027 |
| Number of Pages | 222 |
| Number of Tables | 361 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Technology, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC is expected to exhibit the highest growth rate during the forecasting period. Asia pacific has massive potential as it is an emerging region that has massive opportunities for the media and entertainment industry. China is the prominent country of the APAC region due to the huge media & entertainment and healthcare sectors.
Free Valuable Insights: Global Light Field Market size to reach USD 167 Million by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Google, Inc. are the forerunners in the Light Field Market. Companies such as NVIDIA Corporation, Dimenco, Sony Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, Apple, Inc., Sony Corporation, Google, Inc., NVIDIA Corporation, Dimenco, Raytrix GmbH, Holografika, Fathom Optics, Inc. and Looking Glass Factory, Inc.
By Technology
By Vertical
By Geography
The light field market size is projected to reach USD 167 million by 2027.
HD viewing is witnessing a massive demand are driving the market in coming years, however, low availability of proficient workforce limited the growth of the market.
Toshiba Corporation, Apple, Inc., Sony Corporation, Google, Inc., NVIDIA Corporation, Dimenco, Raytrix GmbH, Holografika, Fathom Optics, Inc. and Looking Glass Factory, Inc.
The expected CAGR of the light field market is 14.6% from 2021 to 2027.
The software segment would display the highest growth rate during the forecast period.
The North America emerged as the dominating region by obtaining the maximum revenue share of the light field market.
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