Light Field Market Overview
The Light Field Market is estimated to acquire a market valuation of USD 1,872 Million and a CAGR of 15 % in the forecast period from 2023 to 2027.
The light field acts as an imaging device that gives information about the light rays. This camera helps to focus instantly after the picture is clicked. The features of the light field are enhancing its market demand. Due to the advanced features of the technology, it is significantly used in the healthcare and biomedical sector. Its 5D helpful feature is driving the Light Field Market.
The increased demand for better visual effects in movies and games is a major market driver. The Hollywood cinematic studio shows a significant need for light field technology. The technology has the capability to produce next-generation content for the viewers. The higher adoption rate of VFX in the entertainment industry to meet the audience's desire is helping the market reach its value. The moviemakers and game developers use VFX to produce lively content, which is driving the market revenue.
The beneficial usage of light fields in the filming process with realistic and interactive content enhances the technology globally. The increasing demand for gaming applications also brings up great opportunities for the market.
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 2017. 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.
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.
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 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 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.
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.
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.
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.
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
MOPIC is a 3D Light Field display start-up. It has announced its new Glasses-free 3D monitoring solution' at the InfoComm 2022 in Las Vegas from June 8th to 10th.
Their new solution has binocular disparity and motion parallax on a flat-screen display. The viewers can recognize the image as a 3D space. This solution also provides a better visual experience beyond the displayed frame in another space. The Glasses-free 3D monitoring solution comprises a real-time image transmission system, a 3D camera, a glasses-free 3D display, and an exclusive application.
|Market Size||USD 1,872 Million (2023)|
|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.|
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.