Light Field Market is expected to exceed USD 1.5 billion by 2024. The technological advancements and innovations to enhance the 3D imaging quality and resolution are growing rapidly in the industry. The manufacturers operating in the industry are engaged in incorporating the technology into various devices such as displays and cameras to enhance the 3D experience of customers. Several global companies are entering the market to develop such devices. For instance, Google, Inc. is planning to enter the light field market by acquiring Lytro, Inc.
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.
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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 market growth.
The Asia Pacific light field market 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 market. Moreover, smartphone manufacturers in China and Japan are engaged in incorporating the technology into smartphone cameras to enhance the picture quality and resolution, thereby providing an impetus to light field market growth.
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Major players participating in the light field market are Toshiba Corporation, Avegant Corp., Google LLC, FoVI 3D, Inc., Holografika, Light Field Lab, Japan Display, Inc., Nvidia Corporation, Lumii, Inc., Panasonic Corporation, OTOY, Inc., Ricoh Innovations Corporation, Raytrix GmbH, Sony Corporation, and Samsung Display Co., Ltd., among others. These players are offering diversified offerings in the light field market, allowing them to compete and offer their solutions to the customer base. These players are witnessing a great opportunity in the market due to the lesser adoption and awareness of the technology among customers, allowing them to become market leaders by offering advanced solutions.
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