Architecture & engineering segment of Light Field Market will grow at 15% CAGR till 2024

Light Field Market is expected to grow substantially over the coming years with the rise in adoption of the technology in medical imaging solutions. The imaging technique captures the 3D information of the scene with the use of a single camera and exposure. These advanced techniques can be employed to study & detect the medically problematic areas at micro levels when there are increasing complexities in the detection of several internal health issues. The applications of medical imaging can be witnessed for diagnostic & therapeutic purposes. These technologies have witnessed a very high adoption in medical sectors and hospitals due to the ease offered in the detection of diseases through the body or part scan. The imaging is a more advanced technology that projects the captured image into space, allowing surgeons or doctors to analyze the organ in a 3D view. The growing adoption of the technology in neurosurgery will provide an impetus to the light field market share.

Global Light Field Market worth over USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing adoption of the technology in several devices such as cameras and smartphones is predicted to provide an impetus to the light field market. The customers are demanding for advanced technological solutions that will provide enhanced 3D image quality. These cameras offer several advantages over the traditional devices which is encouraging the customers to replace their conventional systems with this technology, thereby accelerating the light field market growth. Such advantages include enhanced focus, exposure, lighting, color and intensity. Moreover, the camera allows the user to refocus the image after being captured. These features are encouraging several industrial areas such as automotive and healthcare to implement the technologies for performing their business operations effectively, thereby driving the light field market growth.

The growing demand for high-definition picture quality that improves the viewing experience and interactivity of the users with the display screen is accelerating light field market growth. The consumers are shifting from the traditional image or video qualities to HD due to the enhanced features and resolution of the scenes. The adoption of the 3D light field display technologies is expected to grow soon due to the enhanced 3D visualization as compared to the traditional components.

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Adoption of the technology enables the user to record the 2D image of an object simultaneously with the 3D depth information of a scene. This 3D image is calibrated with just a single camera and a single shot. Several players operating in the light field market are offering such advanced features in their products. For instance, Raytrix GmbH offers C42i series, which has a high-resolution capacity of 42 megapixels with 7,716 x 5,364 pixels. Such high-definition cameras are being widely used for flow & inspection applications to capture 3D particle positions and velocity in a volume. The traditional cameras are not able to provide 3D images with this high-resolution capacity.

In the light field market, media & entertainment application is witnessing a high adoption of this technology in several application areas such as gaming, theaters and amusement parks and accounted for over 25% of the overall industry share in 2017. Manufacturers engaged in gaming industry are enhancing the experience of their customers by integrating VR into games. Several players are developing AR-based gaming & entertainment products such as Spectral Games S.A., which have integrated the technology in their games. Some of the major AR/VR-based games of the company include KnightFall AR, Crime Scene AR, Fury of the Gods, and Hot Wheels: Track Builder. Moreover, the adoption of the technology in other entertainment applications such as amusement parks, museums, and other fun zones is being witnessed which will increase over the coming years, thereby accelerating the light field market growth.

Latin America light field market is anticipated to grow at a CAGR of over 16% over the forecast timespan. AR & VR technologies are experiencing a high adoption in the Latin America in several application segments such as retail, hospitality, and automotive. Countries such as Brazil, and Mexico are the major economies, which are witnessing a high growth in these sectors, thereby driving the light field market. The growing retail sector in Latin America is forcing the retailers to adopt new strategies to gain a competitive advantage. With this, they are leveraging the proliferation of AR/VR technologies.

The technology is bringing in a new interactive shopping and brand engagement experience to consumers in retail. With increasing online shopping, brick-and-mortar retail stores are introducing interactive experience devices such as VR/AR and mixed reality technology to improve the shopping experience. For instance, apparel stores are using these technologies to help consumers try clothes on virtually without having to wait in front of trial rooms, saving time. This process brings consumers a new shopping experience in a simple manner. Such factors are driving the awareness and growth of the light field market.