Bringing the virtual world another step closer to reality, 3D or 3-dimensional technology has revolutionized the way in which gadgets work. 3D displays are one of the latest examples of how this technology is being used to provide new experiences. Though still in its nascent stage, according to Technavio’s report on the global 3D display market, the market will grow at an impressive CAGR of 28% by 2020. Known for providing three-dimensional visualization and giving depth perception to images, 3D display is being readily adopted in photography, education, defense, gaming, television, videos, and mobile sets.
What’s driving the growth of the 3D display market?
Growth by 28% in the next 5 years is impressive in and of itself, and something that has caught the attention of many market researchers. Here are some of the major reasons behind the growth of 3D display market as identified by analysts at Technavio:
Emergence of UHD and smart TVs
Display panels and televisions are interrelated; any change in one of these industries is sure to influence the other. With the emergence of smart televisions along with the launch of ultra-high-definition (UHD) TVs, the demand for 3D displays has grown immensely. In addition to a wider field of view and an extended range of colors, these televisions provide higher picture clarity and four times the resolution as compared with full HD televisions. With the global 3D LCD flat panel TV market growing at a rate of 40% by revenue and 60% by volume, and UHD TV makers like Samsung, LG and Panasonic developing quantum dot LCD 4K UHD TVs, the global market for 3D displays is sure to grow at a fast pace.
Better penetration of higher-bandwidth internet and increase in 3D video content
Another major reason behind the growth of the 3D display market is the rapid development of infrastructure capable of supporting high-speed internet in almost every part of the world. As high-bandwidth networks enable seamless transmission of live, high-quality content over the internet, there has also been an increase in the volume of 3D video content. These two developments have in turn boosted the commercialization of the 3D display market.
Increase in adoption of HMDs
Head-mounted displays or HMDs, which make use of 3D displays, make up a major segment in the consumer electronics sector. Gaming is in fact driving the HMD market and thereby influencing the expansion of the 3D display market as well. Regarded as next-generation technology, gaming with HMDs offers huge growth potential for 3D display manufacturers.
Another sector that is using HMDs to a great extent is defense electronics. HMDs are essentially used to increase flexibility and gain effective real-time information. Apart from the defense sector, the healthcare sector is adopting HMDs for tele-robotic surgery and treating psychological phobias. As these applications and devices are expected to incorporate 3D displays on a large scale, they are likely to propel the growth of the 3D display market.
Interested in obtaining facts and figures on the growth of the 3D display market?
