Increasing demand of Haptic Holograms in Media & Advertising Industry boosts the Global Haptic Holography Market.
The global haptic holography market was valued at US$ 253.5 Mn in 2018 and is expected to reach US$ 4,678.4 Mn by 2027, expanding at a CAGR of 38.5% during the forecast from 2019 to 2027.
As humans are moving toward a more digitalized world, technologies to blend the virtual world with the physical world is a utilitarian application. Haptic holography is one of them, with capabilities to transform the business in an unimagined way. Furthermore, the global haptic holography market is a novelty market and is projected to gain momentum during the forecast period. Increasing demand for real-time and transfigure imaging are some key factors responsible for uplifting the market growth. Moreover, the increasing adoption of haptic holography for product promotion, advertising, marketing, medical scanning, education, entertainment, and other applications has provided market growth momentum.
Intelligent holograms also help companies in their product planning & development, sales promotion, large-scale presentation, and immersive interaction. For instance, in October 2019, the Coca-Cola Company announced a rise of 12% in sales when products were being promoted using HYPERVSN devices. Similarly, other retail companies are also shifting towards touchable holographic projection to sell and promote their brands.
Market Synopsis
Consumer Electronics Application Segment anticipated witnessing proliferating growth during the Forecast Period.
The consumer electronics segment is anticipated to witness marvelous growth during the forecast period due to the rising adoption of the smart wearable and electronic devices. In addition, the rising trend of smart, durable, and small-sized electronics has transformed the consumer electronics segment. Furthermore, the haptic holography technology being in its rudimentary stage, provides an enormous opportunity for the market players to overcome the present limitations. On the other hand, the touchable holography cost is also a major challenge as it costs US$ 98,000 for a 42-inch holographic projection—however, further advancement in the technology cost is expected to reduce in the future.
3D holographic technology is used in commercial applications such as advertising, marketing, brand promotion, and other presentations. As a result, holographic kiosks and digital signage are transforming the retail industry significantly. Looking at the robust demand for holographic kiosks from the retail industry, market players are also investing prominently in developing new advanced holographic kiosks. For instance, in the first quarter of 2019, ARHT Media Inc. announced to launch of its first unmanned interactive holographic kiosk.
Regional Analysis
North America dominated the Global Haptic Holography Market in 2018.
In 2018, North America held the largest revenue share in the global haptic holography market and was anticipated to lead the market during the forecast period. The significant market growth is mainly attributed to a sophisticated system for radical financial ideas. In addition, the adoption of upcoming inventions and technologies is frequent throughout various business sectors. Recently, Walmart partnered with HYPERVSN to use holographic projection in retail advertising. Besides this, automobile leaders are integrating intelligent holographic projection technology for transforming automotive mirrors into an intelligent dashboards.
The Asia Pacific is projected as the fastest growing region due to the largest consumer electronics marketplace. Next to North America, Asia Pacific has a significant presence of industries in wide sectors that are transforming their market experience by adopting digitization and mixed reality. Haptic Holographic adds an exciting experience to this by reducing cost.
Key Players & Competitive Landscape:
Increasing Partnerships and Collaboration Deals will spur the Competition in the Global Haptic Holography Market.
The global haptic holography market is in its nascent stage and thus offers an alluring opportunity for the market players to tap a larger consumer base through its attractive features. In the wake of the same, market players adopt merger, acquisition, and partnership approaches with retail, medical, automotive, electronics, or other industry players to implement their technology in transforming their products.
List of Companies Covered:
Real View Imaging Ltd.
AV Concepts
Holoxica Ltd.
Musion 3D
SeeReal Technologies
Immersion Corporation
HoloTech Switzerland AG
EchoPixel Inc.
NanoLive SA
Realfiction
Key Industry Development:
On August 31, 2019, Volkswagen AG acquired a minority stake in SeeReal Technologies. This partnership helped Volkswagen AG to access the display technologies of SeeReal Technologies for the automobile sector. The advanced display technology based on haptic holography help the company to display the hidden information with 99% more clarity.
On August 03, 2017, RealView Imaging Ltd. announced a new medical holographic product, 'HOROSCOPE-i.' The RealSense technology of Intel Corporation powers the new product. The product supports 3-dimensional holographic projection and interaction capability for medical interventional procedures.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The haptic holography market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global haptic holography market based on product type, application, and geography.
Frequently Asked Questions
The market for Haptic Holography is expected to reach US$ 4,678.4 Mn in 2028.
The Haptic Holography market is expected to see significant CAGR growth over the coming years, at 38.5%.
The report is forcasted from 2019-2027.
The base year of this report is 2021.
Real View Imaging Ltd., AV Concepts, Holoxica Ltd., Musion 3D, SeeReal Technologies, Immersion Corporation, HoloTech Switzerland AG, EchoPixel Inc. are some of the major players in the global market.
