Light Field Market to grow at 15% CAGR from 2018 to 2024
Global Light Field Market valued at USD 650 million in 2017 and worth over USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing adoption of the technology in several devices such as cameras and smartphones is predicted to provide an impetus to the light field market. The customers are demanding for advanced technological solutions that will provide enhanced 3D image quality. These cameras offer several advantages over the traditional devices which is encouraging the customers to replace their conventional systems with this technology, thereby accelerating the light field market growth.
Such advantages include enhanced focus, exposure, lighting, color and intensity. Moreover, the camera allows the user to refocus the image after being captured. These features are encouraging several industrial areas such as automotive and healthcare to implement the technologies for performing their business operations effectively, thereby driving the light field market growth.
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The growing demand for high-definition picture quality that improves the viewing experience and interactivity of the users with the display screen is accelerating light field market growth. The consumers are shifting from the traditional image or video qualities to HD due to the enhanced features and resolution of the scenes. The adoption of the 3D light field display technologies is expected to grow soon due to the enhanced 3D visualization as compared to the traditional components.
Adoption of the technology enables the user to record the 2D image of an object simultaneously with the 3D depth information of a scene. This 3D image is calibrated with just a single camera and a single shot. Several players operating in the light field market are offering such advanced features in their products. For instance, Raytrix GmbH offers C42i series, which has a high-resolution capacity of 42 megapixels with 7,716 x 5,364 pixels. Such high-definition cameras are being widely used for flow & inspection applications to capture 3D particle positions and velocity in a volume. The traditional cameras are not able to provide 3D images with this high-resolution capacity.
In the light field market, media & entertainment application is witnessing a high adoption of this technology in several application areas such as gaming, theaters and amusement parks and accounted for over 25% of the overall industry share in 2017. Manufacturers engaged in gaming industry are enhancing the experience of their customers by integrating VR into games. Several players are developing AR-based gaming & entertainment products such as Spectral Games S.A., which have integrated the technology in their games. Some of the major AR/VR-based games of the company include KnightFall AR, Crime Scene AR, Fury of the Gods, and Hot Wheels: Track Builder. Moreover, the adoption of the technology in other entertainment applications such as amusement parks, museums, and other fun zones is being witnessed which will increase over the coming years, thereby accelerating the light field market growth.
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Latin America light field market is anticipated to grow at a CAGR of over 16% over the forecast timespan. 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 market.
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.
Key players in the light field market are Toshiba Corporation, Sony Corporation, Ricoh Innovations Corporation, Light Field Lab, Inc., Samsung Display Co. Ltd., Leia, Inc., Japan Display, Inc., Panasonic Corporation, OTOY Inc., NVidia Corporation, Lumii Inc., Holografika, Google LLC, Avegant Co., Raytrix GmbH, and FoVi3D, Inc., among others. These players are developing innovative offerings to capture the 3D or 4D light fields and projecting it on the screen to improve the visibility & interactivity with the image. Manufacturers are partnering with several industry leaders and research institutes for the development of innovative solutions.
Browse key industry insights spread across 155 pages with 160 market data tables & 23 figures & charts from the report, “Light Field Market Size By Technology (Imaging Solution [3D Mapping & Modeling, 3D Rendering, 3D Scanning, Image Reconstruction, Layout & Animation], Light Field Display), By Application (Aerospace & Defense, Architecture & Engineering, Automotive, Entertainment & Media, Healthcare, Industrial, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, GCC, Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/light-field-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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