Light Field Technology Market Segmented By Component - Devices (Light Field Cameras, Light Field Displays) | Light Field Imaging Platforms | Services (Development Services, Support & Maintenance)
Industry: Semiconductor Electronics
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 289
Report ID: PMRREP32878
The global demand for light field technology market is estimated to reach US$ 94.2 Mn by 2023 and is forecasted to have a sales revenue of US$ 423.1 Mn by the end of 2033. The light field technology market is predicted to progress at a CAGR of 16.2% from 2023-2033.
The 5-dimensional plenoptic function is the type of approach behind how light field technology functions. It records data about the light source's photons' directional information. A pair of micro-lenses are used between the main lens and camera sensor of a 5D Plenoptic or light field camera to gather this data by positioning it in front of a light source. It is deployed to accurately digitize and recreate real-world objects and scenes.
One of the main factors driving the growth of next-generation technology in virtual reality is the light field marketplace. The development of visual effects technology in movies and video games, personalized marketing, and rising demand for prototypes are driving the light field market ahead.
The ability of light field imaging to produce a natural viewing environment makes it one of the most researched 3D imaging technologies. Following the development of 3D technology, improvements in content quality and user viewing experience are now visible.
A growing number of products, including smartphones, cameras, televisions, and others, are using light field technology, creating market opportunities.
As of 2022, the global demand for the light field technology market valued US$ 82.1 Mn. In terms of the regional market landscape, the market in North America held a dominant market share of 27.6% in the global landscape in 2022 and is expected to retain its dominant position throughout the forecast period. Meanwhile, demand for the light field technology market in Europe region holds a 21.8% value share in Global Market in 2022.
| Attributes | Key Insights |
|---|---|
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Light Field Technology Market Size (2023) |
US$ 94.2 Mn |
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Projected Market Value (2033) |
US$ 423.1 Mn |
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Global Market Growth Rate (2023-2032) |
16.2% |
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Devices Market Share (2022) |
56.6% |
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US Market Share (2022) |
27.6% |
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3D Movies & Entertainment Market Share (2022) |
19.50% |
“Application of Light Field Technology in VFX is Driving Demand for the Market”
Hollywood studios and VR companies demand the use of light field technology in next-generation and cinematic content. VFX, or visual effects as it is more generally known, is being quickly adopted by the entertainment sector to produce visually enhanced visuals using animation and computer graphics. In situations where they technically want to show something that cannot be photographed in a live context and that should be recreated in a virtual world or animation software, animators, game developers, and filmmakers prefer VFX.
“Rising Demand for Light Field Technology in US Market”
The US is the most lucrative market for light field technology in the North American region and is expected to maintain this position across the forecast period as well.
In 2022, the US held the majority of the North American market with a 15.4% share. Light field manufacturers and solution providers, who are investing more in light field and 3D imaging for technological breakthroughs in the US, are principally responsible for the high growth.
The market is seeing significant growth in the demand for light field-based 3D imaging, which presents new opportunities for market expansion for manufacturers of light field technology. Further, it is expected that the market for light field technology solutions would have tremendous development potential as smart technology and artificial intelligence continue to expand.
In 2022, the US light field technology companies helped the country to account for a dominant share of 15.4% in the global marketplace.
“Rapid Implementation in India, Allowing Growth for Light Field Technology Market”
The CAGR for India's adoption of light field technology is predicted to be around 18.6%. New technologies are constantly being developed and put into use, such as light field and 3D imaging technologies, which may present market players in Asia with prospects for expansion.
To increase productivity, numerous firms are implementing light field technology hardware, software, and services. Additionally, a number of light field and 3D imaging technology service providers in Asia are working with light field imaging platform providers and device manufacturers to improve and deliver tailored products in accordance with regional clients' specific business needs.
Government spending on research and development of light field imaging technologies is also expected to support market expansion in the area.
“Focus on Development of Light Field Technology in Germany”
German institutions, universities, and companies are currently studying and developing the light field technology and intend to improve it for mass use and wider applications. The companies in this country have the ability to find a wide variety of end users that include consumers, aircraft manufacturers, electronic manufacturers, defence forces, etc., allowing the companies in this country to have a wider market.
For these reasons, the German market for light field technology was estimated to hold the 12.1% share of the global light field technology market.
Which Devices Segment by Component of Light Field Technology Held the Largest Market Share?
“Focus on Light Field Technology Devices and Various Applications Allow the Devices to Have the Larger Market Share”
Light field technology includes a variety of devices, light field imaging platforms, and services depending on its constituent parts. In 2022, the devices market share was estimated to be 56.6%.
Light field devices provide a number of advantages, including the creation of light field displays, such as VR headsets and light field screens, the development of visual effect technologies for entertainment, and high-resolution video capture. Light field displays are used by manufacturers of augmented reality (AR) and virtual reality (VR) headgear. Customers will benefit from a more immersive experience thanks to this.
Which Application Segment of Light Field Technology Holds a Larger Share Market?
“3D Movies & Entertainment Segment Hold a Larger Share Market”
In 2022, it is predicted that the media & entertainment segment of the global light field market has a market share of 19.5%.
In order to improve the quality of their animation and motion pictures, 3D technology has been extensively applied in the gaming and entertainment media sectors. As viewers are tricked into believing they are witnessing a 3D image, the use of light field technology in media and entertainment is growing. This is because it uses motion parallax and broad viewing angles.
The global light field technology market's key players are focusing on business strategies such as mergers and acquisitions and geographical expansion. Companies involved in light field technology are aiming for product innovation and strategic partnerships with other vendors to enhance their portfolios while addressing the demand of an expanding customer pool. The introduction of new products and strategic partnerships are key in this landscape.
Recent developments related to key players providing Light Field Technology have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Component:
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In 2022, demand for light field technology market amounted to US$ 82.1 Mn.
The globally light field technology market is estimated at 16.2% CAGR through 2033.
The market for light field technology is forecasted to climb to US$ 423.1 Mn by 2033.
Demand for Light Field Technology in India is projected to rise at 18.6% CAGR over the forecast period.
In 2022, the U.S light field technology market held a dominant market share of 27.6%.
