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Light Field Market Report

RA05966

Light Field Market by Component (Software and Hardware [Imaging Solutions and Light Field Displays]), End-use (Media & Entertainment, Healthcare, Aerospace & Defense, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA05966

Pages: 217

Sep 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Light Field Market

Light Field Market Analysis

The global light field market is anticipated to garner $860.7 million in the 2021–2028 timeframe, growing from $216.2 million in 2020, at a healthy CAGR 19.3%.

Market Synopsis

The light field market is being driven forward by visual effects technology improvements in movies and video games, customized marketing, and increased demand for prototypes.

The main restraining factor of light field market is lack of awareness regarding technology in developing regions such as LAMEA and Asia-Pacific.

According to the regional analysis of the market, the Asia-Pacific light field market is anticipated to grow at a CAGR of 20.3%, by generating a revenue of $256.7 million during the review period.

Light Field Overview

Light field imaging is a relatively new approach in the field of computational photography. Light field cameras capture not only the spatial intensity of three-dimensional (3D) objects, but also the angular information of the physical environment, opening up new possibilities for computer vision challenges including 3D reconstruction, saliency detection, and object recognition. The combination of all light rays in 3D space, travelling through every point and in every direction, is referred to as the light field. Additionally, the increasing use of light field imaging and display in health care, defense, media & entertainment, and other industries is driving the growth of the light field imaging and display market across the globe.

COVID-19 Impact on Light Field Market

The COVID-19 problem has had a significant impact on the arts, culture, and creative economy. The COVID-19 crisis has had a significant impact on the creative sector, which includes businesses such as cinema, advertising, and fashion. The IATSE (International Alliance of Theatrical Stage Employees), for example, claims that the pandemic shutdown has led in the loss of 120,000 jobs held by its 150,000 members. The pandemic has had a negative influence on the market for light fields. The impact of light field technology on the media and entertainment industry, such as the covid-19 impact, which resulted in extensive cinema closures around the world, in addition the endless release and event postponements, additionally the production havoc, is estimated to cost the industry more than $20 billion. It has a direct impact on the cancellation or postponement of events, which has a knock-on effect on the photographic industry. CIPA (Camera & Imaging Products Association) data, on the other hand, reveals a 25.9% drop in volume and a 12.5% drop in value in camera manufacturing. According to it, the covid-19 has had a negative impact on several imaging technologies such as light field and camera producers, but as the world recovers from the pandemic, there is a potential that numbers will rise in 2021.

Growing Demand for AR/VR Technologies to Drive the Market Growth

Remote contacts are becoming more prevalent and shaping the new reality, the way users consume entertainment and content is rapidly changing. Interactive entertainment with embedded AR, VR, and mixed reality is integrated with immersive technology, resulting in full sensory experiences in film, gaming, and virtual & augmented reality. Light field technology is becoming a reality thanks to the broad convergence of commodity technologies across a variety of industries. Today, there is enough of computational power accessible, paving the way for real-time holographic interaction. For instance, in 2018 , at SIGGRAPH, a thriving international organization based on the computing machinery special interest group on computer graphics and interactive techniques, Google researchers exhibited similar technique by displaying photorealistic light field still pictures in immersive VR. Video has been added to the immersive media puzzle by this new method. Light field videos provide consumers with a more dynamic virtual world, with panoramic views spanning more than 180 degrees. Google is pushing immersive media technology to the next level by demonstrating a functional light field video system. The new study demonstrates the ability to record, reconstruct, compress, and deliver high-quality immersive light field videos that are light enough to stream over standard Wi-Fi, furthering the state of the art in the swiftly emerging field of immersive virtual reality (VR) and augmented reality (AR) platforms, boosting the demand of light field in the in the market.

To know more about global light field market drivers, get in touch with our analysts here.

Low Technology Penetration in Underdeveloped Countries to Hamper the Market Growth

Low technological penetration with high cost associated with the technology in developing regions is expected to hamper the growth of the global light field market.

Growing Use of Light Field Technology in Products Such as Smartphones, Cameras, Televisions, and Others to provide Market Opportunities

The light field market is made up of a number of companies that are working to incorporate the technology into a variety of devices including camera and medical devices. Because of the expanded application areas of these devices in hospitality, military & defense, and the entertainment business, light field cameras are rapidly gaining traction in the market. On the 21st March 2018, it was reported that Google was buying Lytro, a leading world’s most powerful light filed platform provider, for $40 million. Several business activities are being done in a more accurate & efficient manner through a visual view and inspection of the operability and functioning of its pieces, thanks to rising 4D and 5D technologies in the industrial sectors. Displays are another product that has seen a lot of adoption of this technology. Light field display market is being integrated into consumer electrical items such as smartphones, televisions, projectors, and wearables. Users will be able to interact with content in a 3D space as a result of the technology's inclusion in such gadgets, boosting the user experience. These factors are expected to have a beneficial impact on light field market growth.

To know more about global light field market opportunities, get in touch with our analysts here.

Light Field Market
By Component

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Based on component, the market has been divided into software and Hardware (imaging solutions and light field displays). Hardware sub-segment accounted for the highest revenue share in 2020, and software sub-segment is predicted to show the fastest growth during the forecast period.

Enterprise size: Research Dive Analysis

The hardware (imaging solutions and light field displays) sub-segment is anticipated to have a dominant market share and generate a revenue of $627.4 million by 2028, growing from $160.4 million in 2020. Light field displays employ a series of tiny lenses to break down an image into individual light rays. These displays can provide a light field display immediately in front of the viewer’s eyes who can concentrate on various things in the picture and involve the effect of depth of field by applying sufficient encoding approaches of the images given to the user. The hardware sub-segment includes imaging solution and light field display. The use of light field has increased in imaging such as 3D modelling, 3D scanning, layout & animation, 3D rendering, and image reconstruction. The light field industry is likely to be fueled by increased research into light field displays such as VR headsets and light field screens. A light field display creates light rays that contain all of the necessary color and depth signals.

The software sub-segment is anticipated to have the fastest growth and generate a revenue of $233.3 million by 2028, growing from $55.8 million in 2020, with the healthy CAGR of 20.1 %. The software sub-segment of the light field market has also witnessed rising demand in the animation and VFX sectors of the media and entertainment industry. The software is in development and may be used to generate virtual objects and 3D structures in the light field environment without the usage of a light field camera, as well as create 3D samples that can be viewed with the naked eye.

Light Field Market
By End Use

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Based on end-use, the analysis has been divided into Media & Entertainment, healthcare, aerospace & defense, and others. Among these, Media & Entertainment is predicted to be the most dominant sub-segment and healthcare sub-segment is anticipated to have the fastest growth during the forecast period.

Enterprise size: Research Dive Analysis

The media & entertainment sub-segment of the global light field market is anticipated to have a dominant market share and surpass $274.8 million by 2028, with an increase from $69 million in 2020. 3D technology has been widely used in entertainment media, and gaming verticals to enhance their animation and motion pictures quality. The use of light field technology market in media and entertainment is increasing as it uses motion parallax and wide viewing angles to give the illusion of 3D imaging to viewers.

The healthcare sub-segment of the global light field market is anticipated to have the fastest growth and surpass $257.4 million by 2028, with an increase from $60.6 million in 2020, with the CAGR 20.3%. The increasing demand for medical imaging has spurred the use of 3D technology, which has boosted demand for the light field industry. The growing need for 3D imaging technology in the medical industry is being fueled by advancements in the healthcare and life sciences fields, as well as 3D technology for monitoring interior body structure for treatment and diagnosis.

Light Field Market
By Region

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The light field market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Enterprise size: Research Dive Analysis

The Market for Light Field in North America to be the Most Dominant

The North America light field market accounted $95.9 million in 2020 and is projected to register a revenue of $379.1 million by 2028. To drive market expansion in North America, companies are heavily spending in light field and 3D imaging for technological advances. This region has proven receptive to businesses utilizing light field and 3D imagery to improve vision and increase the customer experience. Furthermore, firms in this area are heavily spending in light field and 3D imaging for technical advances in order to fuel market expansion. North American enterprises are adapting light field and 3D imaging technologies to improve visualization and augmented reality.

The Market for Light Field in Asia-Pacific Most Lucrative

The Asia- Pacific light field market accounted $60.5 million in 2020 and is projected to register a revenue of $256.7. million by 2028. Major nations in APAC, such as China, India, Japan, and the rest of the region are rapidly contributing to the development of 3D displays and 3D image sensors in the 3D imaging market which has boosted the opportunities of growth for the light field market. In the APAC region, verticals like healthcare & life sciences, manufacturing, automotive & retail, media & entertainment, and architecture & construction are dominating the adoption of the light field

Competitive Scenario in the Global Light Field Market

Product advancements, innovations, and business expansion are common strategies followed by major market players.

Competitive Scenario in the Global Light Field Market

Enterprise size: Research Dive Analysis

Some of the leading light field market players are Avegant Corp, FoVI3D, OTOY Inc., Raytrix GmbH, Light Field Lab, Inc., Google Inc., Japan Display Inc., Toshiba Corporation, Fathom Optics, and WOOPTIX S.L.

Porter’s Five Forces Analysis for the Global Light Field Market:

  • Bargaining Power of Suppliers: There are many suppliers in the light field market. Also, there is high demand for light field from various countries in order to reduce the transaction complexity.
    Thus, the bargaining power of suppliers is low.
  • Bargaining Power of Buyers: Buyers have high bargaining power owing to the low adoption of the advanced light field technologies in developing region.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies entering light field market have to deal with the advanced options available from all the major players. 
    Thus, the threat of the new entrants is low.
  • Threat of Substitutes: The threat of the substitutes is high due to the entrance of players with the technological upgraded platform with lower cost solution.
    Thus, the threat of substitutes is high.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is high mainly because the number of players operating in light field industry are continuously innovating, which makes it difficult for the players to compete. The efficiency of the technologies, business expansion, and product innovations is making the key players compete.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2020-2021

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Component

  • Software
  • Hardware(imaging solutions and light field displays)

  Segmentation by End-use

  • Media & Entertainment
  • Healthcare
  • Aerospace &Defense
  • Others

  Key Companies Profiled

  • Avegant Corp
  •  FoVI3D
  •  OTOY Inc.
  •  Raytrix GmbH
  •  Light Field Lab, Inc.
  • Google Inc.
  • Japan Display Inc.
  • Toshiba Corporation
  •  Fathom Optics
  •  WOOPTIX S.L.

Frequently Asked Questions
 

A. The size of the global light field market was over $216.2 million in 2020 and is projected to reach $860.7 million by 2028.

A. Avegant Corp, FoVI3D, OTOY Inc., Raytrix GmbH, and Light Field Lab, Inc. are some of the major companies operating in the global light field market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. The growth rate of the Asia-Pacific light field market is 20.3%.

A. Product innovations, technological advancements, and business expansions are the key strategies opted by the operating companies in this market.

A. Avegant Corp, FoVI3D, OTOY Inc., Raytrix GmbH, and Light Field Lab, Inc. are investing more on R&D practices.

A. Increasing demand for 3D-enabled devices in various field is a major driving factor of the growth. Furthermore, the growing use of the light field technology in the media and entertainment industry is creating huge growth opportunities across the globe for the market.

A. The growing adoption of the AR and VR technologies and also the increasing use of it in healthcare are trending.

A. North America is the most dominating region for the light field technology.

A. The global growth rate of the light field market is 19.3%.

A. Due to the rising usage of light field products in industries such as medical imaging, education, and the automotive industry as well as cultivating business partnership with other regions, the Asia-Pacific area represents a prospective market for the light field technology.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Component trends
2.3.By End Use trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Enterprise size landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.By Component
3.8.2.By Enterprise size
3.8.3.By End Use

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis

3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Light Field Market, by Component

4.1.Software

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Hardware

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

5.Light Field Market, by End Use

5.1.Healthcare

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Media & Entertainment

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

5.3.Aerospace & Defense

5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028

5.4.Others

5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028

6.Light Field Market, by Regions

6.1.North America

6.1.1.Market size and forecast, by Component, 2020-2028
6.1.2.Market size and forecast, by Enterprise size, 2020-2028
6.1.3.Market size and forecast, by End Use, 2020-2028
6.1.4.Market size and forecast, by Country, 2020-2028

6.1.5.U.S.

6.1.5.1.Market size and forecast, by Component, 2020-2028
6.1.5.2.Market size and forecast, by Enterprise size, 2020-2028
6.1.5.3.Market size and forecast, by End Use, 2020-2028

6.1.6.Canada

6.1.6.1.Market size and forecast, by Component, 2020-2028
6.1.6.2.Market size and forecast, by Enterprise size, 2020-2028
6.1.6.3.Market size and forecast, by End Use, 2020-2028

6.1.7.Mexico

6.1.7.1.Market size and forecast, by Component, 2020-2028
6.1.7.2.Market size and forecast, by Enterprise size, 2020-2028
6.1.7.3.Market size and forecast, by End Use, 2020-2028

6.2.Europe

6.2.1.Market size and forecast, by Component, 2020-2028
6.2.2.Market size and forecast, by Enterprise size, 2020-2028
6.2.3.Market size and forecast, by End Use, 2020-2028
6.2.4.Market size and forecast, by Country, 2020-2028

6.2.5.Germany 

6.2.5.1.Market size and forecast, by Component, 2020-2028
6.2.5.2.Market size and forecast, by Enterprise size, 2020-2028
6.2.5.3.Market size and forecast, by End Use, 2020-2028

6.2.6.UK

6.2.6.1.Market size and forecast, by Component, 2020-2028
6.2.6.2.Market size and forecast, by Enterprise size, 2020-2028
6.2.6.3.Market size and forecast, by End Use, 2020-2028

6.2.7.France

6.2.7.1.Market size and forecast, by Component, 2020-2028
6.2.7.2.Market size and forecast, by Enterprise size, 2020-2028
6.2.7.3.Market size and forecast, by End Use, 2020-2028

6.2.8.Rest of Europe

6.2.8.1.Market size and forecast, by Component, 2020-2028
6.2.8.2.Market size and forecast, by Enterprise size, 2020-2028
6.2.8.3.Market size and forecast, by End Use, 2020-2028

6.3.Asia Pacific

6.3.1.Market size and forecast, by Component, 2020-2028
6.3.2.Market size and forecast, by Enterprise size, 2020-2028
6.3.3.Market size and forecast, by End Use, 2020-2028
6.3.4.Market size and forecast, by country, 2020-2028

6.3.5.China

6.3.5.1.Market size and forecast, by Component, 2020-2028
6.3.5.2.Market size and forecast, by Enterprise size, 2020-2028
6.3.5.3.Market size and forecast, by End Use, 2020-2028

6.3.6.Japan

6.3.6.1.Market size and forecast, by Component, 2020-2028
6.3.6.2.Market size and forecast, by Enterprise size, 2020-2028
6.3.6.3.Market size and forecast, by End Use, 2020-2028

6.3.7.South Korea

6.3.7.1.Market size and forecast, by Component, 2020-2028
6.3.7.2.Market size and forecast, by Enterprise size, 2020-2028
6.3.7.3.Market size and forecast, by End Use, 2020-2028

6.3.8.Rest of Asia Pacific

6.3.8.1.Market size and forecast, by Component, 2020-2028
6.3.8.2.Market size and forecast, by Enterprise size, 2020-2028
6.3.8.3.Market size and forecast, by End Use, 2020-2028

6.4.LAMEA

6.4.1.Market size and forecast, by Component, 2020-2028
6.4.2.Market size and forecast, by Enterprise size, 2020-2028
6.4.3.Market size and forecast, by End Use, 2020-2028
6.4.4.Market size and forecast, by country, 2020-2028

6.4.5.Latin America  

6.4.5.1.Market size and forecast, by Component, 2020-2028
6.4.5.2.Market size and forecast, by Enterprise size, 2020-2028
6.4.5.3.Market size and forecast, by End Use, 2020-2028

6.4.6.Middle East and Africa

6.4.6.1.Market size and forecast, by Component, 2020-2028
6.4.6.2.Market size and forecast, by Enterprise size, 2020-2028
6.4.6.3.Market size and forecast, by End Use, 2020-2028

7.Company profiles

7.1.Avegant Corp.

7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis

7.2. FoVI3D

7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis

7.3.OTOY Inc

7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis

7.4.Raytrix GmbH

7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis

7.5.Light Field Lab, Inc

7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis

7.6.Google Inc

7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis

7.7.Japan Display Inc
7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis

7.8.Toshiba Corporation.

7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis

7.9. Fathom Optics.

7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis

7.10.WOOPTIX S.L.

7.10.1.Business overview
7.10.2.Financial performance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis

Light field photography has been around since long. The first ever analog light field device was developed in 1908 by Gabriel Lippmann.

Light field photography, also termed as integral imaging, is captivating as it permits you to shits the focus plane of an image from one place to place after an image has been already captured; which is not possible in regular photography. It is an evolving notion for imaging, the benefits of which are not yet broadly recognized, even by the imaging industry experts. As there are numerous techniques to perform light field imaging, industry experts have not rather settled on which light field imaging practice is the ideal one; and there is enduring deliberation on how to perfectly capture pictures.

Why is the Demand for Light Field Imaging Technique on Rise?

Light field photography is germane in applications including 3D movies, machine vision systems, interactive displays, autonomous navigation, medical applications, visible light photography, and infrared imaging for military as well as industrial applications.

Nowadays, a huge pool of customers worldwide are heavy users of smartphones, cameras, televisions, and other smart devices.  Growing integration of advanced imaging features in such devices is boosting the demand for light field imaging techniques.

The light field industry is full of a number of firms that are striving to integrate this technology into a diverse range of devices, including camera and medical equipment. Owing to the multitudinous application areas of these devices in fields like the military & defence, hospitality, and entertainment industry, light field imaging techniques are swiftly becoming the most preferred technology in the market.

Additionally, mounting implementation of 4D and 5D technologies in a wide array of industrial sectors is fueling the adoption of this imaging technology. Displays screens are also one of the products that integrate light field technology. Apart from this, usual consumer electronics products, such as projectors, televisions, smartphones, and wearables, are the key products that adopt this technology. With the implementation of light field technology in various smart gadgets, users will be able to interact with content in a 3D space, thus enhancing the overall user experience. All these factors are expected to fuel the global light field market growth by a CAGR of 19.3% in the 2021-2021 timeframe, reveals a report by Research Dive.

Recent Trends in the Light Field Market

Some of the most prominent players of the global light field market include Raytrix GmbH, Light Field Lab, Inc., Japan Display Inc., Google Inc., Toshiba Corporation, Fathom Optics, and WOOPTIX S.L., Avegant Corp, FoVI3D, OTOY Inc., and others. These players are focusing on developing strategies such as product development, mergers and acquisitions, partnerships, and collaborations to obtain a leading edge in the market. For instance,

  • In October 2020, Sony, one of the world's largest manufacturers of consumer and professional electronic products, launched $5K “Spatial Reality” Screen, based on 3d light field display technology. The Spatial Reality Display is mainly developed for greatly-specialized application areas like computer graphics (CG), automotive and industrial design, and Visual Effects (VFX) design.
  • In June 2021, poLight, an optical component developer, entered into a partnership with Wooptix, a chip technology developer, for light field 3D camera technology in consumer designs. The deal will develop a camera system that can capture light from numerous angles so that users can change the depth of field, refocus the image or select the point of view later on.
  • In January 2021, Fathom Optics, a software development firm, launched a light field software platform that makes possible printed 3D and motion graphics in packaging without the need for specialty inks or substrates and any other additional materials like foils or lenticulars.

Covid-19 Impact and Future Prospect of the Market

The abrupt outbreak of the coronavirus pandemic has drastically impacted the arts, entertainment, and creative sectors along with many other industries. The world of advertising, cinemas, and fashion came to a standstill in the lockdown during the pandemic. All this significantly curtailed the growth of the light field market. However, as and when the pandemic relaxes and the entertainment sector resumes, the need for light field technology will magnify, thus fueling the market growth remarkably.

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