The global light field market size is expected to reach USD 154 million by 2026 from USD 76 million in 2021, growing at a CAGR of 15.1%. The key factors driving the growth of the market include improved visual effects technology in movies and games, customized marketing, escalated need for prototyping and medical imaging. However, increased software corruption and piracy concerns is the factor restraining the growth of the light field market.
The light field market for software segment is expected to grow at a higher CAGR during the forecast period. The software used in light field market are responsible for rendering the images and making the input images, structure, and videos ready for the output of light field display. The software are under research and are so developed that the user can create virtual objects and 3D structures in the light field ecosystem without a light field camera and form 3D samples that can be viewed by the naked eyes.
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The media & entertainment vertical is expected to account for the largest share of the overall light field market by 2026. The light field market is expected to dominate the media and entertainment vertical, with an increased focus on auto stereoscopy. Auto stereoscopy can display stereoscopic pictures on screens without the viewer wearing any 3D glasses. This technology works by utilizing motion parallax and wide viewing angles and provides viewers an illusion of 3D imaging. Presently, auto stereoscopy is used in AR and VR systems. AR technology is used to improve the perception of reality among viewers on screens or glasses. Similarly, VR technology also alters the real world with a simulated one on screens and glasses. The light field display development kit includes hardware, software, and support services, which enable businesses to create industry-leading mixed-reality products.
The light field market is expected to register the highest CAGR in APAC. In APAC, China would be the largest market for light field, led by the media and entertainment and healthcare industries. The Chinese government and other official bodies support VR development in China; nearly 20 provinces and local municipal governments in China have started developing and manufacturing local AR/VR devices. Thus, it is expected that in the coming years, the region will be the leading market for light field displays used for AR and VR applications. The APAC region has already started recovering from the COVID-19 pandemic. However, due to the fear of the new strain of COVID-19 and another wave of pandemic hitting this region, countries are opening their trade and businesses cautiously.
The major opportunities for the growth of the light field market include increased demand for HD viewing, and evolved artificial intelligence technologies. Light field imaging is one of the most studied 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. 3D technology has enabled providing high-definition (HD) content to enhance the viewing experience through advanced 3D-enabled devices such as 3D display units and VR devices.
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Apple’s latest light field patent describes the use of a camera array for immersive augmented reality (AR), live display walls, head-mounted displays, video conferencing, and similar applications based on a user’s point of view. HD 3D experience helps in acquiring more customers. It provides an enhanced visual experience in terms of reality, capturing attention, and increased emotional response. This improvement in the user-viewing experience would help various companies examine their products in detail and make further enhancements to make the products effective. In the current scenario, 3D technology has been widely used in media and entertainment, architectural and construction, and manufacturing industries. The increasing investments made in light field display technology are done keeping in mind the demand from the consumer, industrial, architectural, and medical verticals. These investments would aid technological advancements and improve viewing experiences. Consequently, HD viewing experience is expected to generate lucrative opportunities for the light field market.
According to the new market research report on the "Light Field Market by Technology (Hardware (Imaging Solutions, Light Field Displays), Software), Vertical (Media & Entertainment, Healthcare, Architecture, Industrial, Defense), and Region(North America, APAC, Europe, and RoW) - Global Forecast to 2026" , The light field market size is expected to grow from USD 76 million in 2021 to USD 154 million by 2026; it is expected to grow at a CAGR of 15.1% from 2021 to 2026.
The software segment of the light field market has also seen rising demand from the animation and VFX sectors of the media and entertainment industry.“Vertical-wise, media & entertainment segment to grow at the highest rate from 2021 to 2026”The light field market is expected to dominate the media and entertainment vertical, with an increased focus on auto stereoscopy.
The light field display development kit includes hardware, software, and support services, which enable businesses to create industry-leading mixed-reality products.“APAC to record highest CAGR from 2021 to 2026”Asia Pacific is the most rapidly growing market and offers huge opportunities for the media and entertainment vertical.
The Chinese government and other official bodies support VR development in China; nearly 20 provinces and local municipal governments in China have started developing and manufacturing local AR/VR devices.
Thus, it is expected that in the coming years, the region will be the leading market for light field displays used for AR and VR applications.
The APAC region has already started recovering from the COVID-19 pandemic.
The global light field market is expected to grow at a strong 15% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR).
The global light field market is mainly driven by the growing demand for light field technology from the films and media industry as well as in 3D rendering applications in various industries.
The growing demand for computer-generated and 3D animation in movies is likely to be a key driver for the global Light Field Market over the forecast period.
Light field technology can play a crucial role in designing animation and graphics in movies, which has given the market steady impetus over the last few years.
Light Field Market Research Report – By Technology (Imaging Solution), Verticals (Healthcare) - Forecast Till 2023Competitive Analysis:The global light field market is dominated by Ricoh Innovations Corp., Panasonic Corporation, Lumii, Apple Inc., Pelican Imaging Corp., Holografika, Raytrix GmbH, Toshiba Corporation, Nvidia Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Leia, OTOY, Lytro Inc., Cannon Inc., Japan Display Inc., FoVI 3D Inc., Avegant Corporation, and Light Field Lab Inc.
In May 2019, Samsung announced that it is upping the production of AMOLED displays for the U.S. in 2019.In May 2019, MultiVu, a leading emerging player in the light field technology market, raised USD 7 million in a seed round.
