3D Display Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.
Posted by Mrudula Anil Karmarkar on September 12th, 2022
The global 3D display market size is expected to reach USD 430.1 billion by 2030, according to a new study by Grand View Research, Inc., exhibiting a CAGR of 19.3% during the forecast period. Surging demand for enhanced imaging and viewing experience is estimated to be one of the key trends augmenting the market. The rising use of 3D technologies across a variety of applications in several industries is further expected to boost market growth.
North America was the leading revenue contributor in 2021. However, it is projected that Asia-Pacific would witness significant growth and become the highest revenue-generating regional market by 2030. Robust growth of the entertainment and gaming industries, especially in Japan, China, and India, is poised to play a vital role in accelerating the adoption rate over the forecast period. The presence of major OEMs is contributing significantly to regional growth.
Stereoscopic 3D products are useful in numerous applications including TVs, smartphones, tablets, and computers. Key players in the 3D display market have introduced compatibility in head-mounted displays (HMD) with minimum hardware requirements. Multinational conglomerates such as Sony and Samsung prominently operate in the business of HMD.
Emerging display technologies such as OLED are likely to gain increased market penetration over the forecast period owing to increasing implementation in various devices, thereby offering improved picture quality and performance. However, the lack of compatible content and the high cost of these products are expected to impede the overall market growth.
Surging demand for 3D technology in the home entertainment and gaming industries is projected to be one of the key trends fueling product sales. The industry is expected to gain significant traction in the near future with the declining price of electronic devices, coupled with the increasing disposable income of individuals globally. In the initial phase of the pandemic, the demand for televisions, smartphones, and other non-essential consumer electronics witnessed a significant decline as consumers delayed spending on such products, which also affected the display market. However, as the lockdown restrictions were lifted, demand for consumer electronic products like televisions, smartphones, laptops, and computers saw a rise due to online schooling and work from home.
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The gaming industry has witnessed significant changes over the past few years in terms of technology, gaming experience, and graphics. The industry is moving toward enhancing the complete gaming experience with 3D technology, which in turn, is stimulating market growth. In addition, growing interest in OLED and LED technologies, which offer improved picture quality and performance compared to traditional display technologies, is anticipated to benefit the overall market.Evolving consumer preferences and awareness regarding high-definition technology has resulted in the expansion of the industry. The increasing adoption of digital cinema screens capable of delivering a 3D viewing experience and growing consumer inclination toward 3D movies are estimated to augment the market. The burgeoning incorporation of these displays in numerous devices such as monitors, smartphones, TVs, notebook PC, and digital photo frames is also poised to play a pivotal role in the growth of the market.
3D Display Market Report Highlights
The market is competitive owing to the presence of various prominent players such as Samsung Electronics, LG Electronics, Panasonic Corporation, Sony Corporation, Sharp Corporation, Toshiba Corporation, and Fujifilm Holdings Corporation. Industry players have been focusing on organic growth strategies such as R&D investments, product innovation, and value-added features to expand their product portfolios and gain a larger share in the market.
Manufacturers are focused on developing new and innovative products, such as smart TVs and Ultra-HD 4K TVs, that meet the evolving needs of customers. In November 2020, Sharp Corporation formed a joint venture with Japan-based NEC Corporation, with Sharp acquiring 66% of a subsidiary of NEC Corporation, NEC Display Solutions Ltd. The subsidiary will continue to develop and produce a wide range of visual display solutions. The companies aim to deliver innovative and high-quality solutions to customers worldwide with this joint venture.
Some of the prominent players in the global 3D display market include:
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
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