Digital Holography Market | APAC is a potential market for digital holography systems with huge opportunities
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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“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.
North America to account for largest market size during forecast period
The region is technologically advanced and an early adopter of emerging technologies and is expected to be a front runner in the global digital holography market. Additionally, North America is home to major vendors of digital holography solutions; the high demand for holographic solutions in various industries such as commercial, aerospace & defense, medical, and others is a dominant driving force substantiating the market growth in the region. The majority of the demand for digital holographic systems in the region is from the US. Growing commercial spaces coupled with escalated demand for holographic displays is driving the said market in North America.
“Digital holographic microscopy to register highest CAGR during forecast period”
Digital holography finds application in microscopy, display, and telepresence. The market for digital holographic microscopy (DHM) is expected to grow at the highest CAGR during the forecast period. DHM is used in a wide range of applications ranging from holographic aperture ladar (HAL) to vibration analysis. In medical and biomedical sectors, digital holographic microscopes are used to display the 3D images of living cells in real time. In material science, DHM is used routinely for research in academic and industrial labs, depending on the application, microscopes can be configured both in transmission and in reflection. The attractive features of DHM such as high-acquisition rate, the monitoring of physiological and pathological activity of cells and tissue culture, along with non-contact, non-destructive, and marker-free capabilities in vivo imaging are driving the adoption of DHM in medical applications.
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