Shibuya-ku, Tokyo, Japan, Japan, Apr 19, 2022, 00:14 /Comserve / -- According to Research Dive analysis, the global light field is estimated to generate a revenue of $860.7 million by 2028, increasing from $216.2 million in 2020, at a healthy CAGR of 19.3%.
Globally, the widespread spread of Coronavirus (COVID-19) has caused havoc on practically every aspect of daily life, as well as major changes in corporate practices. Particularly hard hit is the entertainment industry. Travel restrictions and restrictions on non-essential labor have halted virtually all film and television production. COVID-19 had a negative impact on the light field market in 2020, resulting in lower shipments of light field and income earned from them. As a result, the market's growth trajectory was slowed down in 2020. The COVID-19 epidemic has had a significant influence on the light field market's value chain. The United States, China, and other countries, which have been hit hard by the pandemic, account for a large portion of worldwide light field manufacturing.
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Light Field Market Analysis
The light field is predicted to grow due to the increasing use of light field technology in products such as smartphones, cameras, televisions, and other devices. This technology is used in television cameras and other devices to generate light as well as send it in multiple directions. A significant force impacting the growth of the light field display market is the growing awareness of 3-D imaging technology among technological innovation producers and buyers. Consumer desire for head-mounted virtual reality displays is driving the expansion of the light field display industry. Developments in computational image and power capture technology are also propelling the light field display business forward.
The high cost of the technologies and the light field products such as camera and imaging display can restrain the growth of the market.
The light field technology is increasingly being used in a variety of industries, including media and entertainment, as well as healthcare, to provide better services to end customers. Companies that specialize in light field technology, such as Avegant Corp, FoVI3D, OTOY Inc., Raytrix GmbH, and Light Field Lab, Inc., provide solutions to a variety of industries, including entertainment, health care, aerospace & defense, and gaming, to improve the quality of animation and motion pictures. The increased usage of visual effects in the sector, on the other hand, is providing growth potential for the light field market.
Based on component, the global market for light field is categorized as software and hardware (imaging solutions and light field displays). The software sub-segment is projected to acquire the fastest growth and generate a revenue of $233.3 million by 2028.
Based on end-use, the market is classified into media & entertainment, healthcare, defense, and others. The healthcare sub-segment is fastest growing among all the sub-segment of the light field registering a revenue of $60.6 million in 2020 and is estimated to grow rapidly by $257.4 million in 2028.
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Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific market is anticipated to flourish at a growth rate of 20.3% by 2028 from the revenue generated in 2020.
The companies involved in the global light field market are Avegant Corp, FoVI3D, OTOY Inc., Raytrix GmbH, Light Field Lab, Inc., Google Inc., Japan Display Inc., Toshiba Corporation, Fathom Optics, and WOOPTIX S.L.
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