The Asia Pacific Light Field Market would witness market growth of 16.5% CAGR during the forecast period (2021-2027).
Light field refers to a function that explains the amount of light traveling in each direction using each point in space. Conventional photography obtains light with the help of lens-and-recorder integration, throwing back from the objects in the frame. As a result, this technique gathers the information from all the light rays hitting at every point of an image and misses out on obtaining the information on that light ray that creates the image.
The government and other regulatory bodies in China highly encourage the development and adoption of VR technology in the country; around 20 provinces and local municipal governments in China have begun to develop and manufacture local AR/VR devices. Therefore, the region is expected to witness prominent growth for the light field displays utilized in AR and VR applications. The regional countries have slowly started to recover from the outbreak of the COVID-19 pandemic. Though the countries are allowing the resumption of services, businesses, and trade with some limitations owing to the fear of a new strain of COVID-19, and a new wave of the pandemic is expected in this region.
The surging adoption of the light field in various industries like aerospace, healthcare, consumer electronics, defense, and automotive is boosting the demand for these solutions in the region. In addition, the surge in the agricultural activities in different countries of this region is pushing market players to increase their manufacturing capability.
The surge in the requirement for prototyping and emerging 5D & 4D technologies is expected to boost the demand for these technologies in the regional market. Due to the high potential of this region, the players are putting high investments in setting up R&D plants to improve their product offerings. Therefore, these factors are likely to boost the demand & growth of light field technologies in the regional market.
The China market dominated the Asia Pacific Light Field Displays Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,428 Thousands by 2027. The Japan market is showcasing a CAGR of 13.1% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 14.6% during (2021 - 2027).
Based on Technology, the market is segmented into Hardware and Software. Hardware segment is further segmented into Imaging Solutions and Light Field Displays. Based on Vertical, the market is segmented into Media & Entertainment, Architecture, Defense, Healthcare, Industrial, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Light Field Market is Projected to reach USD 167 Million by 2027, at a CAGR of 14.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, Apple, Inc., Sony Corporation, Google, Inc., NVIDIA Corporation, Dimenco, Raytrix GmbH, Holografika, Fathom Optics, Inc. and Looking Glass Factory, Inc.
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