Market Analysis
The 3D display market size will touch USD 150.81 billion at an 18.4% CAGR in the forecast period (2020- 2027), as per the latest Market Research Future’s 3D display market forecast report.
Drivers
Growing Preference in Entertainment Industry to Boost Market Growth
The growing preference and use of 3D displays in the entertainment industry like museums, movie theatres, and display centers and others will boost market growth over the forecast period.
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Opportunities
Rising Adoption of AR in Medical Applications to Offer Robust Opportunities
The rising adoption of augmented reality (AR) in medical applications and surgeries will offer robust opportunities in the market over the forecast period. The technology augments the vision capabilities of surgeons, pre-operative planning, and decrease operation time.
Restraints
High Cost to act as Market Restraint
The high cost of 3D video display coupled with lack of 3D content development may act as market restraint over the forecast period.
Challenges
Lack of Interoperability to act as Market Challenge
The lack of interoperability among stakeholders involved in the supply chain market and the impact of the COVID-19 pandemic may act as market challenge over the forecast period.
Key Players
Eminent industry players profiled in the global 3D display market report include Panasonic Corporation (Japan), Sony Corporation (Japan), Samsung Electronics (South Korea), AU Optronics Corporation (Taiwan), Coretec Group, Inc. (US), LG Corporation (South Korea), Toshiba Corporation (Japan), Fujifilm Corporation (Japan) and Mitsubishi Electric Corporation (Japan) Innolux Corporation (Taiwan),among others.
COVID-19 Analysis
The COVID-19 pandemic has affected the economy. Due to lockdowns and social distancing trends, several manufacturing plants had been shut down especially the automotive and electronics sectors. Following a decline in the purchasing power of luxury goods consumers, the production activities of different major companies were restricted thus limiting the need for 3D displays. Besides, the outbreak has limited research and development initiatives in the industry owing to cuts in the supply of raw materials and labor shortages. All these are affecting market growth.
Market Segmentation
The global 3D Display Market Report is bifurcated based on technology, devices, and application.
By technology, the OLED segment will lead the market over the forecast period.
By devices, the stereoscopic segment will dominate the market over the forecast period.
By applications, the TV segment will spearhead the market over the forecast period.
Regional Analysis
APAC to Precede 3D Display Market
The APAC region will precede the market over the forecast period. The presence of tier 1 players, better infrastructure to support emerging technologies, highest adoption of tablets and smartphones, rising consumer electronics intake, broadcasting and advertising industries increasingly embracing the technology to reach a broader audience, booming entertainment and gaming industry in India, China, and Japan, increasing adoption of 3D display market, the presence of major OEMs, increasing use in engineering simulations, defense, gaming, and entertainment, recent infrastructure development, increased use of billboards, and the growing need for 3D displays in countries with many corporate exhibitions, live concerts, and sports competitions are adding to the global 3D display market growth in the region.
The global 3D display market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, &a new product launches, and more.
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