The global digital holography market is projected to reach USD 5.4 billion by 2024 from USD 2.2 billion in 2019; growing at the highest CAGR of 19.8% during the forecast period. The growth of the market is driven by factors such as rising demand for digital holography in medical and commercial applications; and the increasing use of digital holography microscopy for precise measurements. Moreover, the growing adoption of digital holography in the financial sector for security purposes is expected to drive the market. On the other hand, factors such as the high cost of digital holographic systems, and computational complexities in the acquisition and reconstruction of holograms are barriers inhibiting the growth of this market.
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Based on offering, hardware segment to hold larger size of digital holography market during forecast period
A digital holographic system consists of different types of hardware components for image acquisition and reconstruction. These hardware components include lasers, beam splitters, CCD or CMOS cameras, beam combiners, spatial filters, mirrors, projection devices, and digital micromirror devices. CCD or CMOS cameras are the most important components for image acquisition. As the cost of CCD cameras is higher than that of other components used in digital holography, these cameras hold the largest market size. The hardware components help to capture the specimen. The initial cost required for these hardware components is quite high owing to which the hardware segment is expected to hold the largest size of the market.
Digital holographic displays to dominate digital holography market during forecast period
Nowadays, digital holography is used for various purposes, such as microscopy, interferometry, surface measurements, storage, and three-dimensional (3D) display systems. Several companies in the holographic display market are developing advanced holographic displays for high-definition 3D visualization. The demand for these displays is expected to be high in different sectors such as medical, retail, entertainment, public administration, and others. This is expected to boost the digital holographic display market in the future. 3D imagery has attracted people for a long time and it is the next major thing in the advertisement sector. These displays help in enhancing the customer experience. Holographic displays in the commercial vertical are expected to be in high demand in the coming years.
“Market in APAC is expected to grow at highest CAGR during next 5 years”
APAC is a potential market for digital holography systems with huge opportunities for the development and implementation of new technologies. The market in APAC is expected to witness rapid growth owing to the growing number of commercial spaces in the region. China accounts for the majority of the demand for digital holography solutions from the region, owing to the growing interest of consumers in realistic 3D imaging systems. Digital holography technology extends far beyond its common usage in pop concerts and other forms of entertainment. It has a wide range of diverse applications and is being used to actively improve many areas of industry including medical, commercial, and aerospace & defense. The digital holography market in APAC is expected to grow at the highest CAGR in verticals such as medical, commercial, and consumer.
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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