PUNE, India, January 24, 2018 /PRNewswire/ --
According to the new market research report "Light Field Market by Technology (Imaging Solution, Display), Vertical (Healthcare and Medical, Defense and Security, Media and Entertainment, Architecture and Engineering, Industrial), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market was valued at USD 924.7 Million in 2018 and is expected to reach USD 1,822.3 Million by 2023, at a CAGR of 14.5% between 2018 and 2023. The increasing demand for light field technology in visual effects technology in movies, just-in-time marketing, rising need of prototyping, and emerging 4D & 5D technologies are the key driving factors for the light field market.
Browse 17 market data Tables and 38 Figures spread through 97 Pages and in-depth TOC on "Light Field Market - Global Forecast to 2023"
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Rising demand of high-definition viewing experience and evolvement of virtual & artificial technologies offers enormous opportunities in the light field market
Light field imaging is one of the most researched 3D imaging technologies because of its potential to create a natural viewing environment. After the evolution of the 3D technology, developments can be witnessed in terms of enhancing the content quality and improving the user-viewing experience. The availability of 3D technology now has started providing high-definition (HD) content to enhance viewing experience through advanced 3D-enabled devices such as 3D display units and VR devices. Light field technology is used to capture real-world objects and scenes and digitizing them with realistic results. Virtual reality (VR) technology generates realistic images, sounds, and other perceptions that replicate a real environment or create an imaginary scenery. 3D animation using VR can simulate a user's physical presence in the virtual environment. It mainly simulates the realistic and immersive replication of a 3D-360-degree virtual environment, which offers interactive and real-time simulation or experience controlled by body movements. VR in coordination with 3D animation is mainly used in video games, which have an ability to transmit vibrations and other sensations to a user through the game controller.
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Media and entertainment is expected to drive the light field market during the forecast period
Light field is an emerging concept for representing rich 3D visual information, which is able to capture real-world phenomena with unparalleled image quality. The healthcare and medical vertical is likely to continue to hold the largest size of the light field market during 2018-2023. The light field market is expected to register the highest growth in media and entertainment vertical with high focus on auto stereoscopy.
North America is expected to hold the largest market share, whereas APAC is expected to witness the highest CAGR between 2017 and 2023
North America held the largest share in the global light field market in 2017; however, Asia-Pacific is the most promising region for the light field market and is expected to grow at the highest CAGR during the forecast period. North America has been a predominately receptive market toward the adoption of light field-based 3D imaging. There has been an expansive usage of light field and 3D imaging technologies and solutions in this region. Moreover, in this region, organizations are mainly investing in light field and 3D imaging for technological advancements to fuel the market growth. This region has been amenable toward adopting light field and 3D imaging within the companies for enhancing visualization and augmented customer experience.
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Major players in the light field market include Lytro (US), Avegant (US), FoVI 3D (US), Japan Display Inc. (JDI) (Japan), and OTOY (US). Other major players in the Light field market include Light Field Lab (US), Holografika (Hungary) Lumii (US), Raytrix (Germany), Leia (US), NVIDIA (US), Toshiba (Japan), and Ricoh Innovations (US).
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