Light Field Technology Market

Market Study on Light Field Technology: High Demand for HD Holographic Displays Driving Product Sales

Market Snapshot

As per a new study conducted by Persistence Market Research on the light field technology market, North America was among the top revenue contributors in 2020, accounting for nearly 36% of the total market. Overall, the global light field technology market is worth US$ 77.3 Mn at present, and is projected to balloon more than 5X by 2031.

Market Value in 2021

US$ 77.3 Mn

Market Value in 2031

US$ 382.6 Mn

CAGR% (2021-2031)

17.3%

Share of Top 5 Providers

Around 45%

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Companies

  • FoVI 3D, Inc.
  • Sony Corporation
  • Toshiba Corporation
  • Quidient
  • Fathom Optics
  • Raytrix GmbH
  • CREAL SA
  • Wooptix
  • Japan Display, Inc.
  • K-Lens
  • Avegant Corp.

Demand Analysis of Light Field Technology from 2016-2020 Vs Market Outlook for 2021-2031

From 2016-2020, the global market for light field technology expanded at a CAGR of 13.6%. Growth of the industry is mainly driven by improving visual effect technologies in movies and games and more reliable image information through light field cameras. Other trends driving growth include rising demand for HD viewing experience and escalated need for prototyping and medical imaging across the globe.

Major demanding regions of light field technology are North America, followed by Europe. In both these regions, demand is expected to surge owing to the fact that these regions have dominance over the media & entertainment industry.

The U.S. holds a market share of more than 85%, and Canada more than 10% in the North American market. France is a major market for light field technology in the European region.

The global market is expected to reach a valuation of US$ 382.6 Mn by 2031, surging at a CAGR of 17.3%.

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Will More Reliable Image Information through Light Field Cameras Drive Market Expansion?

Using light field technology, more information leads to better results. Light field cameras can be used as lens or camera arrays for providing more reliable image information.

  • For example, the LumiScanX sensor consists of 13 cameras for capturing an image scene from slightly different positions. Offsets and ambiguous are calculated by the software of the LumiScanX sensor. This effect can be noticed at the time of capturing shiny and metallic surfaces.

Further, object recognition, image segmentation, and 3D reconstruction benefit from light field technology. Therefore, more reliable image information is proliferating the need for light field technology and driving the global market.

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How Will Growing Trend of Light Field Display in Reality Applications Be an Opportunity for Light Field Technology Manufacturers?

Light field displays produce holographic 3D images. This is one of the reasons they find application in virtual reality (VR), augmented reality (AR), and mixed or extended reality (MR/XR). These displays are synthesizing sharp images of virtual objects within the natural range of sight of the viewer. Due to this, AR/VR technology start-up companies are working on head-mounted displays (HMDs), adopting light field technology.

  • For instance, a Swiss start-up company, CREAL, developed a near-eye display. High spatial resolution, continuous depth resolution, and continuous depth resolution are offered by the light-field solution of CREAL.

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How is Video Surveillance Providing Opportunities for Market of Light Field Technology?

Video surveillance footage is reviewed after an accident as it involves the act of observing scenes. Some of the common uses of video surveillance are observing public at the entry to train platforms, airports, sports events, and especially those that are directly bounded by community spaces.

Adoption of light field technology will revolutionize video surveillance and photography. There is an increase in demand for HD viewing experience.

With the help of light field technology, video surveillance systems can enhance content quality and improve user-viewing experience. Hence, video surveillance systems will provide an array of opportunities for light field technology over the coming years.

light-field-technology-market

Country-wise Insights

Why Does the U.S. Account for a Large Share in Light Field Technology in the North American Region?

The U.S. held the market share across the North American region and accounted for US$ 20.8 Mn in 2020. High growth is primarily attributed to light field manufacturers and solution providers who are more investing in light field and 3D imaging for technological advancements in the U.S.

Demand for light field-based 3D imaging in the North American region is increasing at a considerable rate, which provides new market growth opportunity for light field technology suppliers.

What’s Driving Demand for Light Field Technology in France?

Demand in France is expected to surge at nearly 21.1% CAGR over the forecast period (2021-2031). It has been observed that Germany, the U.K., Spain, BENELUX, Russia, and France hold a strong share in the European light field technology industry. France is projected to witness significant rate of deployment of light field and 3D imaging technology.

There are continuous advancements in new technology along with growing preference to enhance visualization and augmented customer experience, mainly in France, factors that are driving this regional market.

Which Country Leads the East Asia Market for Light Field Technology?

China holds a major share and is this market is expected to expand at a CAGR of around 20.1% for light field technology. There is continuous development and implementation of new technologies such as light field and 3D imaging technologies, which are creating potential growth opportunities for market players across East Asia.

Various organizations are adopting light field technology devices, software, and services to improve productivity. Also several light field and 3D imaging technological service providers in East Asia are collaborating/partnering with light field imaging platform providers and devices manufacturers to enhance and provide customized offerings as per the business requirements of local clients.

Moreover, governments are investing heavily in the research & development of light field imaging platforms, which is also estimated to fuel market growth in the region.

Category-wise Insights

Which Component of Light Field Technology is Most Demanded across the World?

Based on component, light field technology is available as devices, light field imaging platforms, and services. The devices sub-segment was valued US$ 48.3 Mn in 2020 and is also anticipated to register a high CAGR of 18% during the forecast period (2021-2031).

Light field devices offer various benefits such as developing light field displays, including VR headsets and light field screens, visual effect technology for entertainment purposes, and high resolution video capture. Manufacturers of augmented reality (AR) and virtual reality (VR) headsets are employing light field displays in units. This will provide more immersive capability to customers.

What’s the Impact of of 3D Movies & Entertainment Applications in Light Field Technology?

On the basis of application, light field technology is sub-segmented into industrial machine vision, autonomous robotic navigation, medical imaging, military & defense imaging, 3D movies & entertainment, and others.

3D movies & entertainment application had the highest market share in terms of value in 2020 and is set to experience a CAGR of 20.7% from 2021 to 2031.

High growth is attributed to increased focus on auto stereoscopy and improved visual effect technology in movies and games. Rapid developments in light field technology are allowing potential users to get a realistic feel and inclusive visualization experience.

COVID-19 Impact Analysis

Nowadays, video conferring is an important solution for conducting online meetings across the globe. This trend accelerated during COVID-19, making various applications, including Teams, Meet, WebEx, and Zoom essential tools for corporate teams and social personal interaction.

Even though each party can view the other on a flat panel display, it does not provide an immersive feeling of physical presence. Demand for light field technology, light filed imaging platforms, software development light field services, and light field radiometry has been increasing during lockdowns. This is fuelling demand for light field technology devices, software, and services.

During the outbreak, the light field technology market is expected to grow 2X in 2020-2021 and would see a surge in demand.

Competitive Landscape

Light field device manufacturers and solution providers focus on improving their existing products and on developing new products for existing as well as new markets. Moreover, market players intend to expand their service offerings with new features, functions, and increased security through their own developments and also through partnerships.

  • In October 2020, Japan Display Inc. (JDI) and NHK Media Technology, Inc. announced a joint development project from which they have developed a 5.5-inch "Light Field Display", which can realize natural-looking images in next-generation 3D videos.
  • In October 2020, Wooptix introduced a new light field camera technology. It enables an immersive experience that allows experiencing 3D depth and multi-views on live video conference meetings. The company has developed the first ever single lens light field camera capable of capturing light field video without the loss of resolution and rendering the video live on a light field display.

Light Field Technology Industry Report Scope

Attribute

Details

Forecast period

2021-2031

Historical data available for

2016-2020

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key countries covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Component
  • Application
  • Region

Key companies profiled

  • FoVI 3D, Inc.
  • Sony Corporation
  • Toshiba Corporation
  • Quidient
  • Fathom Optics
  • Raytrix GmbH
  • CREAL SA
  • Wooptix
  • Japan Display, Inc.
  • K-Lens
  • Avegant Corp.

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Light Field Technology Industry Research by Category

Component:

  • Devices
    • Light Field Cameras
    • Light Field Displays
  • Light Field Imaging Platforms
  • Services
    • Development services
    • Support & Maintenance

Application:

  • Industrial Machine Vision
  • Autonomous Robotic Navigation
  • Medical Imaging
  • Military & Defense Imaging
  • 3D Movies & Entertainment
  • Others

FAQs Answered in Market Study

  • How much is the global light field technology market valued at currently?

    The global light field technology market is currently valued at around US$ 77.3 Mn.

  • What are the main factors driving demand for light field technology?

    Rising usage among manufacturers of AR and VR headsets, utilization of light field imaging technology in neurosurgery, and adoption of light field video conferencing are factors diving market growth.

  • At what rate did demand for light field technology increase over the past 5 years?

    From 2016 to 2020, global demand for light field technology increased at a CAGR of 13.6%.

  • What will be the demand outlook for light field technology over the decade?

    Demand for light field technology is projected to surge at 17.3% CAGR and be valued at US$ 382.6 Mn by 2031.

  • What is the market share of the top 5 manufacturers of light field technology?

    Sony Corporation, Toshiba Corporation, Japan Display, Inc., Avegant Corp., and CREAL SA are the top 5 light field device manufacturers and technology providers, accounting for around 45% market share.

  • What is the North American market outlook for 2021 to 2031?

    The market for light field technology in North America is anticipated to be valued of US$ 88.3 Mn by the end of 2031.

  • Which are the top 5 countries driving most demand for light field technology?

    The U.S., Germany, France, India, and China are major demand countries for light field technology.

  • Which countries are key producers of light field technology?

    The U.S., Japan, Russia, India, and China are key producers of light field technology.

  • How is the light field technology market faring in China and India?

    The light field technology market in China and India is projected to create a total incremental $ opportunity of US$ 35.8 Mn and US$ 42.5 Mn, respectively, from 2021 to 2031.

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