Global Holographic AR Display Market to Experience Massive Growth by 2031 with the Increasing Adoption of Holographic AR Displays in Various Application Areas

Augmented reality (AR) provides additional information to the user by placing a virtual image in the real world. There are numerous ways to implement AR. Holographic display is one of the probable methods of using AR, owing to its flawless 3D demonstration. Holographic displays can provide in-depth information to the virtual 3D object. An AR system with a real 3D scene can be created by combining holographic displays. Holographic displays promise to offer a significantly improved AR experience in a variety of useful applications.

A holographic display offers three-dimensional images on a screen or in space by using coherent light produced by a laser. It is widely utilized in virtual reality (VR) and augmented reality (AR) applications. Holographic displays that incorporate laser plasma technology may create images out of thin air without the use of a screen or other external refraction medium, creating a hanging light that astounds viewers and leaves a lasting impression. Holographic displays are the most popular because they can transfer recorded image data via an electromagnetic resonator, giving them a particular edge in security-related applications. The global holographic AR display market is expanding at a rapid pace due to the rise of entertainment displays in vehicles.

Newest Insights in the Holographic AR Display Market

The increasing applications of holographic displays in the automotive, healthcare, education, media and entertainment, military mapping, and residential sectors have boosted the demand for holographic displays. As per a report by Research Dive, the global holographic AR display market is expected to surpass a revenue of $2,586.4 million in the 2022–2031 timeframe. The North America holographic AR display market is expected to perceive foremost and dominant growth in the years to come. This is because the region has a gigantic demand for holographic AR display systems from the automotive industry to provide a more immersive experience to their customers and boost driving safety in the region.

How are Market Players Responding to the Rising Demand for Holographic AR Display?

Market players are massively investing in innovative research and inventions to cater for the rising demand for holographic displays for events, promotions, and advertising. Some of the foremost players in the holographic AR display market are Continental AG, WayRay AG., Sygic, DigiLens Inc., Visteon Corporation, Indiegogo, Inc., Avegant Corp., Futurus Group, and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a notable position in the global market. For instance:

• In April 2022, HYPERVSN, a British company that offers 3D holographic solutions, launched HYPERVSN SmartV, a next-generation platform that gives customers smart 3D graphics, higher brightness, and greater resolution, and can also be used as part of any traditional digital signage installation.
   
• In June 2022, Looking Glass Factory, a group of engineers, innovators, and artists dedicated to developing a hologram-powered future for 3D creators everywhere, launched a revolutionary 65-inch 8K display, the largest, highest resolution holographic display ever made. The new display is a unique product, which is 50 times larger than any other group-viewable holographic display that has ever been commercially available and 5 times larger than any other 3D holographic display that has ever been tested in a lab by another company.
   
• In January 2023, ThirdEye, a leader in artificial intelligence and augmented reality solutions, announced the release of a completely integrated hardware and software healthcare package that offers solutions for AR holographic displays, AR telehealth, artificial intelligence remote surgery, vision impairment, Alzheimer's assistance, and thermal display.

COVID-19 Impact on the Global Holographic AR Display Market

The unpredicted rise of the coronavirus pandemic in 2020 adversely impacted the global holographic AR display market. During the pandemic period, implementation of strict lockdown precautions and slowdown business of operations across the world greatly hampered display manufacturing. Several manufacturing plants were forced to close in the first two quarters of 2020 owing to labor shortages. Holographic AR displays are mainly in great demand in the automotive industry. However, the automotive industry was among those that suffered the most due to the pandemic crisis. The sharp decline in vehicle sales resulted in revenue losses and disruptions to cash flow. This, in turn, impacted the growth of the holographic AR display market. However, the market is expected to recover soon in the post-pandemic period.