3D Display Market Worth $193.24 Billion by 2023 - Exclusive Report by Allied Market Research
PORTLAND, Oregon, October 8, 2018 /PRNewswire/ --
Increasing demand for 3D visualization in show business, gaming, medical, and defense sectors and advancements in OLED and LED technologies would boost the growth of the global 3D display market
Allied Market Research recently published a report, titled, 3D Display Market by Type (Volumetric Display, Stereoscopic Display, and HMD), Technology (Digital Light Processing (DLP), Plasma Display Panels (PDP), Organic LEDs (OLED), and Liquid Crystal Display (LCDs)), Access Method (Screen Based Display and MicroDisplay), and Application (TV, Smartphones, Monitor, Mobile Computing Devices, Movie Projectors, HMD, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2023. The report offers a comprehensive overview of the market, key benefits for stakeholders, market size and forecast, industry scope & trends, dynamic factors such as drivers, restraints, & opportunities, and top investment pockets. According to the report, the global 3D display market garnered $58.28 billion in 2017 and is expected to reach $193.24 billion by 2023, registering CAGR of 16.3% from 2017 to 2023.
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Developments in OLED and LED technologies to produce better picture quality and higher performance compared to traditional techniques and high demand for 3D visualization in show business, gaming, defense, and medical sectors drive the growth of the global 3D display market. However, high initial cost of 3D display and lack of 3D content impede the market. On the contrary, high demand for 3D display in TVs, smartphones, and tablets and increasing penetration of 3D content would provide lucrative opportunities for the market players in future.
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Stereoscopic 3D display to witness highest demand
The stereoscopic 3D display segment accounted for highest market revenue in 2017, contributing more than two-thirds share of the market. It is expected to continue its dominance throughout the market period. However, the HMD segment is expected to grow at the fastest CAGR of 31.5% during the study period. On the other hand, volumetric 3D display segment is expected to witness gradual demand by 2023.
OLED technology segment to gain traction through 2023
The OLED technology segment is expected to register the fastest CAGR of 34.5% through 2023, as it is recognized as a light and compact alternative to conventional LED and LCD systems. However, the LED technology segment would hold the largest market share, contributing 72.4% of the market revenue, as LED backlighting is more energy efficient than conventional display technologies such as plasma and DLP. Moreover, DLP and PDP are the other technologies analyzed in the report.
Microdisplay segment to manifest fastest growth
The microdisplay segment is expected to witness the fastest CAGR of 33.1% during the forecast period. However, in 2017, the conventional/screen-based access method segment held about 93.5% share of the market and is expected to continue its dominance through 2023.
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Major application areas of the 3D display market
On the basis of application, the global 3D display market report is categorized into TV, smartphone, monitors, mobile computing devices, movie projectors, HMD, and others. The TV segment would hold the largest market share by 2023, contributing about two-thirds share of the market. However, the smartphone segment would show the fastest CAGR of 40.8% through 2023.
Asia-Pacific to accrue the highest revenue by 2023
Asia-Pacific region accounted for more than one-third of the total market share in 2017, owing to the large consumer base and growing receptiveness toward this technology in developing countries such as India and China. However, Latin America, Middle East, and Africa (LAMEA) would manifest the fastest CAGR of 36.0% during the forecast period. The 3D display market in North America and Europe have also been extensively analyzed in the report.
Key market players
The major players profiled in the report are Sony Corp., LG Electronics Inc., Toshiba Corp., 3D fusion, Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Corp., Sharp Corp., 3DIcon, and Fujifilm Corp. These major market players have adopted different strategies including collaboration, partnership, R&D, product launch, and acquisition to increase their market share and expand their geographical presence.
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