The light field market size is expected to grow from USD 76 million in 2021 to USD 154 million by 2026; it is expected to grow at a CAGR of 15.1% from 2021 to 2026. The key factors driving the growth of the light field market are improved visual effects technology in movies and games, customized marketing, escalated need for prototyping, and medical imaging.
Market for hardware segment to account for larger market share during the forecast period
The hardware segment is expected to continue to hold a larger market size during the forecast period. The increasing research for developing light field displays such as VR headsets and light field screens is expected to fuel the light field market. The software segment of the light field market has also seen rising demand from the animation and VFX sectors of the media and entertainment industry.
Media & entertainment vertical to hold the largest size during the forecast period
The media & entertainment vertical is expected to hold the largest market size during the forecast period. The light field market is expected to dominate the media and entertainment vertical, with an increased focus on auto stereoscopy. Auto stereoscopy can display stereoscopic pictures on screens without the viewer wearing any 3D glasses. This technology works by utilizing motion parallax and wide viewing angles and provides viewers an illusion of 3D imaging. Presently, auto stereoscopy is used in AR and VR systems. AR technology is used to improve the perception of reality among viewers on screens or glasses. Similarly, VR technology also alters the real world with a simulated one on screens and glasses. The light field display development kit includes hardware, software, and support services, which enable businesses to create industry-leading mixed-reality products.
North America is expected to capture largest market size during the forecast period
Presently, the light field market in North America is the largest revenue contributor compared to other regions; organizations are extensively investing in light field and 3D imaging for technological advancements to fuel the market growth in North America. This region has been amenable toward adopting light field and 3D imaging in companies to enhance visualization and augmented customer experience.