Light Field Market in Latin America to witness 16% CAGR between 2018 to 2024

Latin America Light Field Market is expected to witness substantial growth from 2018 to 2024. 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 industry. 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.

Light Field Market in Asia Pacific is expected to witness a high growth in the coming future owing to the increasing adoption of advanced imaging and 3D modeling technologies in several industrial segments. The automobile industry in Japan is flourishing at a high pace with the development of new and advanced technologies such as connected cars. The incorporation of the HUDs into these vehicles for guiding the path and destination with the help of holographic technology is driving the demand for the technology in the light field industry.

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The applications of this technology in the healthcare sector are expected to accelerate light field market growth. Several medical devices or equipment use this technology for 3D imaging and scanning of human body or parts. The displays or cameras using this technology in healthcare devices help doctors to analyze the diseases to a micro level with improved clarity and picture quality. These healthcare sectors are incorporating VR technology for the treatment of several mental or retinal illnesses in human beings. These VR solutions are incorporated with this technology, which is anticipated to drive light field industry growth.

One of the most swiftly progressing verticals of the global smart technologies space, light field market has come a long way since its inception owing to pathbreaking inventions to capture the 3D and 4D light fields. The gradually rising popularity of light field cameras across several business verticals such as industrial, healthcare, retail, entertainment and media, and automotive has certainly propelled the product demand in the recent years. As light field cameras are equipped with thousands of micro lenses between the main lens and the sensor, it lets the user shoot first and focus later which ensures an improved image resolution. Numerous companies appear proactive in adopting light field technology and are developing high-grade products – a factor that would widen the horizon of light field industry in the years ahead.

The displays are experiencing a high adoption of the technology due to the rise in the demand for the high-definition viewing experience among consumers. These displays offer high-quality 3D visual experience, which is attracting customers attention, thereby accelerating light field market growth. Several major display companies are targeting such requirements of their customers and are engaged in developing light field displays. For instance, Samsung Electronics Ltd. designed displays that can be applied to vehicle windshield displays, TVs, and smart glasses. The display will allow customers to view the content in 3D without using glasses.

With light field technology being increasingly used in imaging solution processes along the likes of layout & animation, image construction, 3D scanning, 3D rendering, and 3D mapping and modeling, it remains to be seen how this technology impacts the future of mixed-reality products. However, it is quite imperative to mention that the growth trajectory of light field market appears highly-promising owing to the technology’s potential to drastically change the product portfolio of several business verticals. For the record, the commercialization scale of the global light field industry is slated to surpass USD 1.5 billion by 2024.

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