Growing Number of Industry Partnerships to Provide Growth Opportunities for 3D Display Market
According to our latest market study on "3D Display Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Technology, Application, and Geography," the market is expected to grow from US$ 575.09 million in 2021 to reach US$ 3,290.83 million by 2028; it is estimated to register a CAGR of 28.3% from 2021 to 2028.
The COVID-19 crisis affected the industries worldwide and the global economy took the worst hit in 2020 and is likely to continue in 2021. The outbreak created significant disruptions in primary industries such as automotive, retail, and consumer electronics. The sharp decline in electronics and manufacturing industries is impacting the growth of global 3D display market. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. North America is home to a large number of manufacturing and technology companies, and thus the impact of COVID-19 outbreak is anticipated to be quite severe till mid-2021. The region is expecting market recovery and economic improvement with the COVID-19 vaccination drives.
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According to our latest market study on "3D Display Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Technology, Application, and Geography," the market is expected to grow from US$ 575.09 million in 2021 to reach US$ 3,290.83 million by 2028; it is estimated to register a CAGR of 28.3% from 2021 to 2028.
The global 3D display market is segmented into five major regions – North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. In 2020, North America led the market with a substantial revenue share, followed by APAC and Europe. The trend of watching 3D movies without glasses is likely to drive the 3D display market in North America in the near future. Apart from movies and games, laptops and handhelds are also likely to be 3D-capable in North America during the forecast period. The autostereoscopic 3D display, which eradicates the need for glasses to view 3D images, is expected to have a substantial impact on the market. Moreover, the presence of large market players and increasing investment for product advancement in the region are among the factors driving the market growth. For instance, in September 2021, LG Electronics USA (LG) launched an immersive 3D multimedia series to commemorate the start of the school year, which debuted the company's giant high-definition digital billboard above New York City's historic Times Square.
The global 3D display market is segmented into type, technology, and application. Based on type, the market is segmented into stereoscopic 3D display and autostereoscopic 3D display. Based on technology, the market is categorized into digital light processing, organic light emitting diode, and light emitting diode. Based on application, the market is segmented into consumer electronics, automotive, medical, advertisement, retail, military & defense, and others. Geographically, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, South Korea, Japan, and the Rest of APAC), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).
Impact of COVID-19 Pandemic on 3D Display Market
The COVID-19 crisis affected the industries worldwide and the global economy took the worst hit in 2020 and is likely to continue in 2021. The outbreak created significant disruptions in primary industries such as automotive, retail, and consumer electronics. The sharp decline in electronics and manufacturing industries is impacting the growth of global 3D display market. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. North America is home to a large number of manufacturing and technology companies, and thus the impact of COVID-19 outbreak is anticipated to be quite severe till mid-2021. The region is expecting market recovery and economic improvement with the COVID-19 vaccination drives.
AU OPTRONICS CORP.; Innolux Corporation; LG Electronics; Mitsubishi Electric Corporation; Panasonic Corporation; Samsung Group; Sharp Corporation; Looking Glass Factory Inc.; Light Field Lab, Inc.; Leia Inc.; Sony Corporation; Toshiba Corporation; and Fujifilm Corporation are among the major companies operating in the 3D display market.
3D Display Market – by Geography, 2020 and 2028 (%)
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3D Display Market Size, Statistics and Data Analysis 2028
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