The North America Volumetric Display Market would witness market growth of 24.8% CAGR during the forecast period (2021-2027).
Volumetric displays provide three-dimensional visual representations of objects with a nearly 360-degree spherical viewing angle that changes as the observer walks around. There are three different ways in which volumetric displays function. Rotating emissive or reflective screens, such as lit spinning paddles, spinning LEDs, or translating projection surfaces, are often used in swept-volume displays. Up-conversion in nonlinear gases or solids, or projection onto a number of diffusing planes, could be used to create images in static-volume displays. Free-space displays, a third and relatively new category, operate in the air with no barrier between the user and the image; they can include free-particle, trapped-particle, and plasma emission displays. Thus, there are wide variety of technologies used in a volumetric display.
Due to its widespread acceptance in establishing awareness in education and battlefield surveillance applications, demand for this technology is increasing in the defense industry across industrialized countries such as the United States, the United Kingdom, and Japan. These countries' governments are heavily investing in sophisticated technology in order to improve their defense capabilities. For example, the United States government has proposed a defense budget of about USD 778.0 billion for 2020, which is an increment of around 4.4% from 2019. As a result, demand is expected to be boosted by significant increases in military budgets across important countries over the forecast period.
North America is the most profitable region due to technologically proficient countries such as the United States and Canada. The region is likely to see increased demand in the coming years as robotics and the Internet of Things (IoT) become more widely adopted. The volumetric display allows users to examine an object from any angle, which can help the military truly understand geography and prepare appropriate strategies. The government's increased spending on the aerospace and defense sector in the region is likely to fuel the volumetric display market's expansion throughout the forecast period. For example, military spending in the United States accounted for significant percentage of the country's overall GDP in 2017.
The US market dominated the North America Volumetric Display Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $205,738.6 Thousands by 2027. The Canada market is estimated to witness a CAGR of 27.6% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 26.5% during (2021 - 2027).
Based on Type, the market is segmented into Static-volume Display and Swept-volume Display. Based on End-use, the market is segmented into Medical, Automotive, Education & Training, Media, Communication, & Entertainment, Aerospace & Defense, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Volumetric Display Market is Estimated to reach $775.2 Million by 2027, at a CAGR of 25.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Holografika, Looking Glass Factory, Inc., Alioscopy, Lightspace Technologies, The Coretec Group, Inc., Holoxica Limited, and Leia, Inc.
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