Commercial Applications of Digital Holography Market: An Untapped Market


The Digital Holography Market is predicted to increase from USD 2.2 billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 19.8%, according to a recent market research study by MarketsandMarkets. According to the report, the main factors influencing this growth are increasing demand for digital holography in industrial and commercial applications, growing reliance on digital holography microscopy for accurate measurements, and expanding use of digital holography in the financial sector for security. The paper also emphasises latent prospects in the APAC area, particularly in China, Japan, and South Korea, as well as potential markets for digital holography, such as the demand for holographic displays for near-to-eye applications. The digital holography business is, however, significantly constrained by the high cost of holographic goods, computational challenges in hologram acquisition and reconstruction, and a general lack of technological awareness.

Lyncee Tec (Switzerland), Holoxica Limited (UK), RealView Imaging (Israel), HoloTech Switzerland AG (Switzerland), EON Reality (US), Geola Technologies (Lithuania), Holmarc Opto-Mechatronics (India), Ovizio Imaging Systems (Belgium), Leia (US), and Phase Holographic Imaging (Sweden) are a few of the leading players in this market. The other players operating in the digital holography market include MetroLaser (US), MDH Hologram (UK), Holotronica (UK), Light Logics Holography and Optics (India) Digitos Technologies (India), and Trimos (Switzerland). Whereas, Jasper Display Corp. (Taiwan), HOLOEYE Photonics (Germany), MIT Media Lab (US), and Fraunhofer IMP (Germany), are key innovators operating in this space. 

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Software offerings to grow at higher CAGR during forecast period

The expansion of software solutions in the digital holography market is anticipated to be fueled by the usage of software algorithms in the reconstruction of holographic pictures. In advanced systems, these algorithms may produce high-quality images with 3D visualisation in less time, making them increasingly popular in digital holographic displays and telepresence. The creation of software suites for imaging, reconstruction, and projection is anticipated to accelerate market expansion. Since software components are continuously improved to make image processing more efficient and precise in less time, their demand is anticipated to increase over the projected period because hardware components are one-time investments.

Digital holographic microscopy to register highest CAGR during forecast period

Digital holography is being used more and more in microscopy, displays, and telepresence applications, and the digital holographic microscopy (DHM) market is anticipated to grow at the fastest rate over the coming years. Applications for DHM include vibration analysis and holographic aperture ladar (HAL). Digital holographic microscopes are used in the medical and biomedical fields to provide real-time 3D views of living cells. In university and commercial labs, DHM is also utilised for material science research. Depending on the purpose, microscopes can be set up as transmission or reflection. DHM is becoming more and more popular in medical applications due to its advantages, which include a high acquisition rate, the capacity to track the physiological and pathological activity of cells and tissue culture, as well as non-contact, non-destructive, and marker-free in vivo imaging capabilities.

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Commercial vertical to hold largest size of digital holography market during forecast period

The medical, aerospace & defence, automotive, consumer, commercial, and other verticals are among the market segments for digital holography. Over the forecast period, the commercial sector is anticipated to account for the greatest share of the digital holography market. This vertical comprises education, finance, hotel, retail, and business industries. Whether employed in performances, live events, product launches, advertisements, and promotions with digital signage and interactive kiosks, digital holography technology offers amazing visual effects. Digital holographic displays are being used by retailers to increase customer engagement by offering unique experiences. The market is expanding as a result of the growing use of digital holographic displays for marketing and advertising in the commercial sector.

Market in APAC is expected to grow at highest CAGR during next 5 years

During the next five years, the APAC region is anticipated to experience the fastest CAGR growth in the digital holography market. This is a result of the region's expanding commercial real estate market and rising consumer demand in realism in 3D imaging technologies. The region's demand for digital holography solutions is mostly driven by China. Digital holography technology is being used to advance a number of industries, including the medical, commercial, and aerospace & defence sectors. Market growth in APAC is anticipated to be strong in the consumer, commercial, and medical sectors. The area has a lot of promise for the creation and application of new technologies, which might open up a market for digital holography devices.

News Covered:

https://www.prnewswire.com/news-releases/digital-holography-market-worth-5-4-billion-by-2024--exclusive-report-by-marketsandmarkets-300988150.html 

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