The 3D display market in APAC is expected to grow from US$ 129.49 million in 2019 to US$ 630.87 million by 2027; it is estimated to grow at a CAGR of 23.5% from 2020 to 2027.
The attractiveness and potential applications of 3D visualization has always been a growth factors for the developments in the field of 3D displays. Therefore, with the development of first consumer products based on stereoscopic 3D display technology such as 3D TVs and monitors by companies such as SONY and LG to current autostereoscopic 3D display solutions, the market landscape for 3D displays is evolving continuously. The disadvantages and limited capabilities of stereoscopic 3D displays have led to discontinuation of most of these products. However, the continuous investments especially in autostereoscopic 3D display solutions and growing number of partnerships between market players and end users to develop advanced holographic and volumetric 3D display systems for a wide range of applications is driving the growth of APAC 3D display market. Consumer electronics, automotive, medical, military & defense, industrial, media & entertainment are among the key markets for the adoption of 3D displays. At present, autostereoscopic technologies are driving the growth of next-generation 3D displays. Potential applications of 3D displays make them an attractive opportunity for both market players and end users; thus, investments in 3D display start-up has been growing at a fast pace in the past few years. Additionally, Holographic 3D display systems create further market expansion and this is expected to fuel the demand for 3D displays in APAC.
Based on application, advertising segment led the APAC 3D display market in 2019. The application of 3D display in advertising domain is currently limited as necessary infrastructure required to reach mass audience is yet to develop. Further, the arrival of 3D display technology in the initial years of previous decade did create limited opportunity for advertisement; however, as the demand for 3D display plummeted, the 3D advertisement took a toll as manufacturer discontinued the products. Nevertheless, the current development of autostereoscopic and light field displays in the advertisement segment is set to witness massive growth opportunities post 2023.
APAC is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets including 3D display. A large number of smartphone and smart TV users in this region present a huge opportunity for the growth of 3D display market. In addition to this, APAC is a manufacturing hub with countries such as China, Japan, South Korea, and India leading the manufacturing industry growth. The ongoing COVID-19 is anticipated to cause a huge disruption in the growth of various industries of the region. The lockdown of various plants and factories in China is affecting the supply chains and negatively impacting manufacturing, delivery schedules, and sales of various products and services. APAC is a crucial region in terms of manufacturing and industrial growth and any disruptions may negatively impact the growth of various industries. The 3D displays are projected to experience continuous growth, due to the surging demand from retail and commercial industries. However, in 2020, the APAC 3D display market experienced downfall due to the COVID-19 pandemic, as the deployment of the 3D displays have been reduced in various industries. The pandemic has majorly affected the supply chain and logistics, which has indirectly affected the demand for 3D displays. The governments of various countries of this region are taking drastic measures to reduce the effects of COVID-19 outbreak by announcing lockdowns, travel and trade bans. All these measures are expected to have a negative impact on the growth of the 3D display market till mid-2021.
The overall APAC 3D display market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC 3D display market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC 3D display market. AU Optronics Corp.; Fujifilm Corporation; Innolux Corporation; LG Electronics Inc.; Looking Glass Factory Inc; Mitsubishi Electric Corporation; Panasonic Corporation; Samsung Electronics Co., Ltd.; Sharp Corporation; Sony Corporation; and Toshiba Corporation are among the key players operating in the APAC 3D display market.