Light Field Market Research Report - Forecast to 2027

Light Field Market Research Report – By Technology (Imaging Solution), Verticals (Healthcare) - Forecast Till 2027

ID: MRFR/SEM/4260-HCR | February 2021 | Region: Global | 100 pages

Light Field Market Scenario

Light Field Market Size is projected as 15% for the forecast year 2027. The light field is a camera that acts as an imaging device. It is a technology that provides information about the light rays. This device can help to refocus once picture is clicked. It comes with a plenoptic feature that provides micro lens between the camera sensor and the main lens. The imaging feature of this technology is widely used in the healthcare and biomedical sector. In these sectors, the light field is useful has it has 5 D features. This 5D can store information on how the light spreads.

 The point position of the light is stored in software for more research. Today, 3 D animation uses light field cameras. There are plenty of benefits such as high resolution, predefined capture and high precision with the light field technologies. All these factors will constantly increase the demand for this market. The need for the light field in gaming and mobile phones markets is continuously rising. The imaging the graphics market has the highest requirement of light field technologies. These factors are expected to grow the light-field market value by USD 1872 million. 

Covid Analysis 

The outbreak of covid 19 is bringing unexpected changes in the global industries. The light field market is witnessing few challenges during this period. Due to the lockdowns and restrictions, there is a delay in the supply. The supply chain of the market is disturbed that is decreasing the growth rate. A sharp drop rate was witnessed at the start of 2020. The countries such as China and Japan are affected by the pandemic. These countries hold the maximum shares in the global markets. 

However, this decline in growth trend is expected to change in the upcoming years. This decline is estimated as a short-term drawback for the market. From 2021 the demand rate is rising from the media and entertainment vertical. The healthcare, architecture and industrial sector will witness a low demand rate. The overall market is at the recovering period from the effects of covid 19. In the upcoming years, the demand rate will continuously surge. 

Market dynamics 

  • Crucial market drivers 

The enhancing visual effect in games and movies is a crucial driver for the light field market. CR plays a crucial role in the media and entertainments industry. The Hollywood studio has a high demand for light field technology for cinematic. Through the light field, they can produce the next-gen content for the viewers. The adoption of VFX is rapid in the entertainment industry. For all these processes the light field technology is highly essential. Moviemakers, animators and game developers use VFX to provide lively content for the users.

These 3D animations can depict a picture or a game as live content. To use the VFX camera mapping is essential. This increasing adoption of the VFX is creating massive demand for the light field market. There are plenty of benefits of using light fields in the filming process. User-friendly, realistic and interactive content is possible through the technology. Due to these factors, the demand rate of the light field market is rising. Further, the increasing adoption of light field technology in gaming application is another factor in growing demand. Gaming platforms such as Nintendo, Xbox and PlayStation will record the highest demand for light-field technology. 

  • Market Growth Opportunity 

The demand for HD content will increase the growth opportunities of the light field market. Light field imaging is one of the popular 3D technologies available today. This imaging device has the potential to deliver a natural viewing experience. It is a technology that improves content quality and user experience. Through this 3D technology, HD content is prevalent in many regions.

Top tech giants adopt light field to use camera array for AR. It will enable live displays, video conferencing and other applications. More use of the light field by these tech giants will create exceptional growth possibilities. The benefits of the technology are enhancing the visual experience, emotional response and attention of viewers. All these factors will further contribute to the overall growth of the market. More number of end-users is expected to demand light field technology. It will ultimately increase the growth opportunity and revenue rates of the market. 

  • The Market Restraints 

The animation industry is a constant threat of piracy. There is plenty of software that sells pirated copies in the market. Due to this, the industry is prone to financial losses. The privacy concerns of the market are the restraining factors. There is a monitoring system used to control the illegal downloading of content.

These are unwanted expenditures for the market that causes disturbance in the revenue rates. The government is taking plenty of measures to mitigate privacy concerns. India and many countries are creating awareness programs about piracy. The initiative policies to block piracy are high. However, still, this restraint can affect the overall growth of the light field market. 

  • The Market Challenges 

The lack of experts in the light field is a challenge in this market. Technical expertise is essential in any light-field project. 3D project development is the primary part of a light field. In the animation industry implanting a light field is the most crucial part of the job. However, most of the animators do not possess the skill to operate light field technology. More investment in the workforce is a requirement in the light field market.

The poor performance in the light field projects can cause less profitability for the market. Also, the lack of experts can lead to a decline in the demand rate for the technology. The government is taking initiatives to invest more resources in the media and entertainment market. However, in recent years the lack of experts is causing plenty of disturbances in the light field market. It is a significant market challenge that can affect the overall growth rate. 

  • The Cumulative Growth Analysis 

Light Field Market Trends is stable during the forecast period 2027. The software segment of the light field market will record the highest demand rate for the forecast period. Also, there is a crucial driver of the market that constantly raises demand. The demand from the media and entertainment industry will enhance the overall market growth.

Also, the gaming industry has more requirements for the light field in the forecast period. More demand for HD content will create exceptional growth opportunities for the light field market. The piracy concerns and lack of expertise can hamper the growth. However, the overall growth remains positive in the forecast period. 

  • The Value Chain Analysis

North America will be the dominant regional player of the light field market. It holds the highest Light-Field Market Share in the forecast period. There are remarkable advancements in 3D imaging in this region. Technological developments are crucial reasons that will enhance the growth rate in North America.

Also, the adoption of the light field in the entertainment industry will bring favourable changes in this region. Visualization and augmented reality are growing in this region. Also, the investments from the organization for the light field are continuously growing. All these factors will lead to the highest demand rate in North America.

Segment overview 

By Technology 

  • Software 

  • Hardware 

  • Light field displays 

  • Imaging solutions 

By Vertical 

  • Defence 

  • Industrial 

  • Media and entertainment 

  • Healthcare 

  • Architecture 

By Region 

  • Europe 

  • Asia pacific 

  • North America 

  • Middle East Africa 

Competitive landscape 

The competition in the light field market is severe in the forecast period. The entry of new key players is expected in the upcoming years. Technological advancements will be massive. Also, acquisition, market expansion and partnerships are key strategies of the competitive landscape. 

Regional analysis 

The light field market is diversified into Asia Pacific, Europe and North America. North America will outgrow the other regional players. Technological advancements will bring the highest profitability in North America. The presence of top players in this region will lead to more growth in the market. The Asia Pacific is the next largest region with the highest demand.

 The growth of consumer electronics in Asia pacific is creating more opportunities for the light field. Japan and India are key contributors to high demand in Asia pacific. Europe is expected to have moderate demand in the forecast period. Also, Europe will have a high market expansion rate in the forecast period. 

The key players of the light field market are 

  1. Quidient (US)

  2. Avegant (US)

  3. Leia (US)

  4. FoVI 3D (US)

  5. Light Field Lab (US)

  6. Japan Display (Japan)

  7. Raytrix (Germany)

  8. Fathom Optics (US)

Recent developments 

  1. The key players are investing in light field technology that does not require ink or any materials for imaging. 

  2. The key players of the market are raising their partnerships with gaming solutions. It enables more and innovative use of the light field. 

Report overview 

  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. 7. Competitive landscape analysis

  8. Recent Developments

Report Scope:
Report Attribute/Metric Details
  Market Size   USD 1,872 Million (2023)
  CAGR   15% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Technology
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Light Field Lab, Inc. (U.S.), Avegant Corporation (U.S.), FoVI 3D Inc. (U.S.), Japan Display Inc. (JDI) (Japan), Cannon Inc. (Japan), Lytro, Inc. (U.S.), OTOY (U.S.), Leia (U.S.), Sony Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Nvidia Corporation (U.S.), Toshiba Corporation (Japan), Raytrix GmbH (Germany), Holografika (Hungary), Pelican Imaging Corp. (U.S.), Apple Inc. (U.S.), Lumii (U.S.), Panasonic Corporation (Japan), and Ricoh Innovations Corp. (U.S.)
  Key Market Opportunities   The light field market in Europe is expected to witness rapid growth in the forthcoming period due to increasing penetration of advanced technology-based photographic devices among users in these region
  Key Market Drivers   The development of next-generation virtual reality technology is a major driver for the light field market.

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Frequently Asked Questions (FAQ) :

The global light field market is expected to reach USD 1.87 billion by 2023.

The global light field market is expected to exhibit a strong 15% CAGR over the forecast period from 2017 to 2023.

The development of next-generation virtual reality technology is a major driver for the light field market.

North America is the leading regional market for light field technology.

Apple Inc., Lumii, Panasonic Corporation, Raytrix GmbH, Toshiba Corporation, OTOY, Lytro Inc., and Avegant Corporation are among the leading players in the global light field market.