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IC23028604 |
Pages: 250 |
Feb 2023 |
The significant growth in the holographic AR display market share is primarily attributed to the rise in the adoption of holographic displays in automotive applications. Holographic AR displays offer an excellent projection system field of view compared to conventional head-up displays (HUDs). Also, they can be customized for any car model including commercial vehicles, trucks, economic cars, and self-driving cars. Holographic AR displays in vehicles increase road safety and in-vehicle experience by offering passengers as well as drivers various essential information including routes, ADAS info, traffic warning, speed limit, stoplight, pedestrian alerts, and others. The integration of AR technology into holographic displays has great potential for the future of connected vehicles.
The high cost of holographic AR displays is projected to hinder the market growth during the forecast period. Holographic AR display is an emerging technology, hence, there is less awareness in developing countries. The holographic AR display has improved dramatically in recent years, but there are still limitations on power sources and materials. This, in turn, is expected to hinder the holographic AR display market expansion. Apart from the automotive sector, holographic AR displays have great potential in other sectors including education, telecommunication, infrastructure, construction, and healthcare. AR integrates digital information with the real physical world using sensors and cameras as well as displays and efficiently transform the physical world with holographic images. With the continued advancement in holographic displays, they are anticipated to be used more in dentistry, medicine, and education in health sciences. Holographic AR displays represent an excellent opportunity to enhance the education process during dental studies. The utilization of holographic AR displays in the healthcare sector is a relatively new technique. Hence its widespread acceptance and utilization may take a few more years. All these factors are anticipated to create several growth opportunities for the key players operating in the holographic AR display market during the forecast period.
According to regional analysis, the North America holographic AR Display market accounted for the highest market share in 2021 and is projected to maintain its dominance during the forecast period, owing to continued R&D in AR and holographic display technology and the presence of major market players.
A holographic display uses light diffraction phenomena to form a virtual 3D image. By utilizing the power of neuromarketing, the holographic display helps brands to create an immersive visual experience. A holographic display works without the aid of any support equipment and produces digital content through glass with a special coating. Continued R&D activities are ongoing in holographic AR display technology and potential challenges such as high cost are expected to be solved in the upcoming years.
The COVID-19 outbreak has adversely affected the holographic AR display market growth. Strict lockdown measures all over the globe and business operations slowdowns restricted the manufacturing of displays. The first two quarters of 2020 witnessed the shutdown of several manufacturing plants due to labor shortages. Holographic AR displays generally have high demands from the automotive sector. However, the automotive sector was among those that experienced the most substantial impacts. The drastic drop in vehicle sales led to losses in revenue and disruption in cash flow. This, in turn, impacted the holographic AR display market growth.
In the last few years, the use of cutting-edge technologies such as holographic AR displays for advertising and branding purposes increased in the professional media markets. Brands often utilize holographic displays for advertising to showcase their products in a 3D view. Holographic AR display makes a significant visual effect in the eyes of the consumers. However, the coronavirus pandemic dropped the advertising budgets of several brands all over the world. As consumers remained indoors due to lockdown and social distancing norms, brands mostly connected with consumers through online channels such as social media platforms. Due to all these factors, the demand for holographic displays reduced drastically during the pandemic.
Customers are increasingly inclined toward safety and an advanced in-car experience, owing to which there is a significant surge in the adoption of advanced technologies such as holographic AR displays in vehicles. Holographic displays flawlessly offer visual information and vehicle data to the driver within the limit of the driver's judgment. These displays allow the driver to focus only on the road to attain road information. Due to all these factors, the adoption of holographic AR displays is anticipated to accelerate in the upcoming years. In addition, the surge in customer expenditure on premium car services for comfort and safety is expected to further supplement the demand for holographic AR displays in the automotive sector.
To know more about global holographic AR display market drivers, get in touch with our analysts here.
Despite the wide range of applications of holographic technology in numerous industries, its drawbacks such as its high price and less awareness are expected to hinder the market growth. Holographic displays are largely equipped only in the luxury cars segment due to their high price. In addition, the high cost of producing holographic display devices is a major cause of concern since it restricts new vendors from entering the market and, as a result, slows the expansion of the holographic display market. These factors are also anticipated to be a limitation to the holographic AR display market size growth during the forecast period.
Holographic AR displays have a promising future in numerous industries including infrastructure, education, telecommunication, healthcare, and others. Holographic AR display offers heavy machinery operators a comprehensive view of their surroundings, thus, avoiding distractions and reducing accidents. In medical applications, holographic displays can be used for X-rays and endoscopies. In recent times, there has been a significant surge in the use of holographic displays for advertising purposes. This technology can be used in digital signs, billboards, point-of-sale terminals, and others. The increase in the adoption of holographic AR displays in all of these sectors is expected to offer excellent growth opportunities for the major market players during the forecast period.
To know more about global holographic AR display market opportunities, get in touch with our analysts here.
Based on component, the market is further divided into electronic component and optical component. Among these, the electronic component sub-segment held the largest market share in 2021 and is anticipated to witness the fastest CAGR during the forecast period.
Source: Research Dive Analysis
The electronic component sub-segment dominated the global holographic AR display market in 2021 and is anticipated to witness the fastest CAGR during the forecast period. Holography and digital computational technologies were fundamentally merged to create the new technical field of electronic component holography. Holography displays use optical wavefronts to capture and replicate 3-D pictures. The captured interference pattern modifies an illumination beam in order to create an image. The wavefront that was scattered from the object scene is diffracted by the modulated light, and it is then recreated into three components. Optical wavefront reconstruction gives the appearance that the image is tangible and present.
Based on application, the global holographic AR display market has been divided into automotive, transportation and heavy machinery, infrastructure, healthcare and surgery, education, telecommunication, and others. Among these, the automotive sub-segment is anticipated to show the fastest CAGR during the forecast period.
Source: Research Dive Analysis
The automotive sub-segment dominated the market in 2021 and is expected to have the fastest growth during the forecast period. According to World Health Organization, approximately 1.3 million people die each year on account of road traffic crashes. Human negligence is a main contributing factor in most of these crashes. Drivers are often exposed to a large amount of audio as well as visual information while driving a car. Moreover, many drivers operate smartphones while driving irrespective of strict warnings by road authorities. Numerous countries worldwide have passed legislation to prohibit the use of digital gadgets while driving a vehicle. The integration of holographic AR displays in the cars helps to lower the sight shift of the driver from the road. In addition, holographic AR displays improve driver comfort along with an increase in road safety.
The holographic AR display market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The North America region dominated the global holographic AR display market in 2021. Major aspects attributed to the significant growth of the holographic AR display market across North America are the presence of major players, increase in R&D activities, increase in disposable income, and increase in demand for luxury vehicles. Another significant factor that is propelling the growth of the market in this region is the surge in the adoption of holographic AR display systems by automotive companies to offer an immersive experience to their consumers as well as increase the safety of drivers.
Joint ventures, investment, merger & acquisition, product development, and technological development are the common strategies followed by major holographic AR display market players. For instance, in 2021, WayRay AG and Karma Automotive announced a collaboration to integrate AR Head-Up Display (HUD) technology in a future Karma vehicle.
Some of the leading players in the holographic AR display market are WayRay AG., Continental AG, Visteon Corporation, Sygic, DigiLens Inc., Indiegogo, Inc., Futurus Group, and Avegant Corp.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast timeline for Market Projection | 2022-2031 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Component
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| Segmentation by Application |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global Holographic AR Display market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on Holographic AR Display market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Holographic AR Display Market Analysis, by Component
5.1.Overview
5.2.Electronic Component
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region
5.2.3.Market share analysis, by country
5.3.Optical Component
5.3.1.Diffractive Optical Element (DOE)
5.3.1.1.Definition, key trends, growth factors, and opportunities
5.3.1.2.Market size analysis, by region
5.3.1.3.Market share analysis, by country
5.3.2.Holographic Optical Element (HOE)
5.3.2.1.Definition, key trends, growth factors, and opportunities
5.3.2.2.Market size analysis, by region
5.3.2.3.Market share analysis, by country
5.4.Research Dive Exclusive Insights
5.4.1.Market attractiveness
5.4.2.Competition heatmap
6.Holographic AR Display Market Analysis, by Application
6.1.Automotive
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region
6.1.3.Market share analysis, by country
6.2.Transportation and Heavy Machinery
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region
6.2.3.Market share analysis, by country
6.3.Infrastructure
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region
6.3.3.Market share analysis, by country
6.4.Healthcare and Surgery
6.4.1.Definition, key trends, growth factors, and opportunities
6.4.2.Market size analysis, by region
6.4.3.Market share analysis, by country
6.5.Education
6.5.1.Definition, key trends, growth factors, and opportunities
6.5.2.Market size analysis, by region
6.5.3.Market share analysis, by country
6.6.Telecommunication
6.6.1.Definition, key trends, growth factors, and opportunities
6.6.2.Market size analysis, by region
6.6.3.Market share analysis, by country
6.7.Others
6.7.1.Definition, key trends, growth factors, and opportunities
6.7.2.Market size analysis, by region
6.7.3.Market share analysis, by country
6.8.Research Dive Exclusive Insights
6.8.1.Market attractiveness
6.8.2.Competition heatmap
7.Holographic AR Display Market, by Region
7.1.North America
7.1.1.U.S.
7.1.1.1.Market size analysis, by Component
7.1.1.2.Market size analysis, by Application
7.1.2.Canada
7.1.2.1.Market size analysis, by Component
7.1.2.2.Market size analysis, by Application
7.1.3.Mexico
7.1.3.1.Market size analysis, by Component
7.1.3.2.Market size analysis, by Application
7.1.4.Research Dive Exclusive Insights
7.1.4.1.Market attractiveness
7.1.4.2.Competition heatmap
7.2.Europe
7.2.1.Germany
7.2.1.1.Market size analysis, by Component
7.2.1.2.Market size analysis, by Application
7.2.2.UK
7.2.2.1.Market size analysis, by Component
7.2.2.2.Market size analysis, by Application
7.2.3.France
7.2.3.1.Market size analysis, by Component
7.2.3.2.Market size analysis, by Application
7.2.4.Switzerland
7.2.4.1.Market size analysis, by Component
7.2.4.2.Market size analysis, by Application
7.2.5.Italy
7.2.5.1.Market size analysis, by Component
7.2.5.2.Market size analysis, by Application
7.2.6.Russia
7.2.6.1.Market size analysis, by Component
7.2.6.2.Market size analysis, by Application
7.2.7.Rest of Europe
7.2.7.1.Market size analysis, by Component
7.2.7.2.Market size analysis, by Application
7.2.8.Research Dive Exclusive Insights
7.2.8.1.Market attractiveness
7.2.8.2.Competition heatmap
7.3.Asia-Pacific
7.3.1.China
7.3.1.1.Market size analysis, by Component
7.3.1.2.Market size analysis, by Application
7.3.2.Japan
7.3.2.1.Market size analysis, by Component
7.3.2.2.Market size analysis, by Application
7.3.3.India
7.3.3.1.Market size analysis, by Component
7.3.3.2.Market size analysis, by Application
7.3.4.Australia
7.3.4.1.Market size analysis, by Component
7.3.4.2.Market size analysis, by Application
7.3.5.South Korea
7.3.5.1.Market size analysis, by Component
7.3.5.2.Market size analysis, by Application
7.3.6.Rest of Asia-Pacific
7.3.6.1.Market size analysis, by Component
7.3.6.2.Market size analysis, by Application
7.3.7.Research Dive Exclusive Insights
7.3.7.1.Market attractiveness
7.3.7.2.Competition heatmap
7.4.LAMEA
7.4.1.Brazil
7.4.1.1.Market size analysis, by Component
7.4.1.2.Market size analysis, by Application
7.4.2.Saudi Arabia
7.4.2.1.Market size analysis, by Component
7.4.2.2.Market size analysis, by Application
7.4.3.UAE
7.4.3.1.Market size analysis, by Component
7.4.3.2.Market size analysis, by Application
7.4.4.South Africa
7.4.4.1.Market size analysis, by Component
7.4.4.2.Market size analysis, by Application
7.4.5.Rest of LAMEA
7.4.5.1.Market size analysis, by Component
7.4.5.2.Market size analysis, by Application
7.4.6.Research Dive Exclusive Insights
7.4.6.1.Market attractiveness
7.4.6.2.Competition heatmap
8.Competitive Landscape
8.1.Top winning strategies, 2021
8.1.1.By strategy
8.1.2.By year
8.2.Strategic overview
8.3.Market share analysis, 2021
9.Company Profiles
9.1.WayRay AG
9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.2.Continental AG
9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.3.Visteon Corporation
9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.4.Sygic
9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.5.DigiLens Inc.
9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.6.Indiegogo, Inc.
9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.7.Futurus Group
9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.8.Avegant Corp.
9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
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