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Light Field Market segments 2020−2027
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The global light field market garners substantial traction, mainly due to the rising usages of imaging technologies in industrial and military & defense applications. Besides, the increasing demand for imaging solutions and light field display in defense, media & entertainment, and healthcare sectors substantiate the market sales. Moreover, technological advances in imaging solutions escalate the growth of the market, improving light field components & devices.
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According to Market Research Future (MRFR), the global light field market is poised to create a valuation of approximately USD 1,872 MN by 2023, growing at 15%CAGR throughout the assessment period (2018 – 2023). High-resolution imaging technologies cost a little extra, and hence the light field displays that need vast numbers of pixels could be significant.
Moreover, the rising usages of the technology in a virtual eyeglass set configured to display a light-field image based on data received via a lightfield camera on the opposite side of the lens increase the market size. Also, increasing production of light field cameras with multiple viewpoints, including a processor that develops an image from the vantage points of display users, thereby eliminating a parallax effect, boosts market demand.
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Global Light Field Market - Segmentation
The report is segmented into three dynamics;
By Technology : Imaging Solution (3D Modelling, 3D Scanning, Layout & Animation, 3D Rendering, Image Reconstruction, other), Light Field Display, and others.
By Verticals : Military & Defense, Media & Entertainment, Healthcare, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Global Light Field Market - Regional Analysis
North America leads the global light field market. The region witnesses a massive demand due to the increasing adoption of machine learning technologies and artificial intelligence, propelling the market growth to a large extent. Besides, the presence of light field product manufacturers and technology development centers in the region drive market growth.
Moreover, the high demand for light field imaginary devices in the defense and commercial & industrial sectors substantiate the growth in the regional market. Alongside the rising uptake light field technology in security & surveillance, substantial technological advances foster the regional market growth.
Europe stands second in the global light field market. The high demand for light field imaging devices boosts the market growth, driving light field technology deployment in various applications. Additionally, the increasing penetration of advanced technology-based photographic devices among users in the region substantiates the growth of the market.
Furthermore, the rising awareness of the light field application areas other than security & surveillance, such as detection, monitoring, and inspection of gas detection, fire/flare detection, body temperature & level measurement, R&D, increases the market size. Germany and the UK are major light field markets in the region. The European light field market is projected to create a substantial revenue pocket during the assessment period.
The Asia Pacific region also accounts for a substantial share in the global light field market, mainly due to the increased spending to strengthen defense sectors. Besides, the increasing implementation of advanced light field imaging technologies drives the growth of the regional market.
Moreover, enormous investments in the R & D activities to develop related technologies and constant technological upgrades in warfare platforms propel the regional market growth. China, Japan, and India are the emerging light field markets, offering significant opportunities for industry players.
Global Light Field Market - Competitive Analysis
Highly competitive, the light-field market appears fragmented with the presence of several well-established players. To gain a sizable competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Substantial investments are transpired in R&D to develop a completely different technology compared to their competition.
Major Players:
Players leading the light-field market include Avegant Corporation (US), Light Field Lab, Inc. (US), FoVI 3D Inc. (US), Canon Inc. (Japan), Japan Display Inc. (JDI - Japan), Lytro, Inc. (US), Leia (US), OTOY (US), Sony Corporation (Japan), Nvidia Corporation (US), Samsung Electronics Co. Ltd. (South Korea), Toshiba Corporation (Japan), Holografika (Hungary), Raytrix GmbH (Germany), Pelican Imaging Corp. (US), Lumii (US), Apple Inc. (US), Ricoh Innovations Corp. (US), and Panasonic Corporation (Japan), among others.
Industry/Innovation/Related News:
September 09, 2020 ---- Leia Inc. (the US), a leading global provider of lightfield display hardware and content services for mobile, announced its partnership with a US-based specialized digital agency Infuse Medical. The deal would help revolutionize lightfield imagery for the medical training & education field with immersive 3D and 2D educational experiences.
The partnership would enable Leia to provide its clients with access to Infuse's custom interactive eLearning content for aesthetics, coronary, spine, neuro, orthopedics, imaging, laboratory, and capital equipment applications, making these educational lessons powerful, portable and immersive via Leia's Lume Pad tablet.
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