The 3D display market in Europe is expected to grow from US$ 123.78 million in 2019 to US$ 548.05 million by 2027; it is estimated to grow at a CAGR of 22.0% 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 Europe 3D display market. Consumer electronics, automotive, medical, military & defense, industrial, media & entertainment are among the key markets for the adoption of 3D displays. Additionally, rising industry collaborations is going to increase the demand for 3D displays, which is expected to fuel the demand for 3D displays in Europe.
Based on technology, the digital light processing segment led the Europe 3D display market in 2019. When it comes to performance, cost, and practicality, most of the promising 3D display concepts are based on digital light processing (DLP) technology. The digital light processing technology based systems are used for both projecting the slice information of an image and creating virtual screens on which the slice information of the image is projected. Currently, the operating speed of digital light processing technology can generate images comprising millions of volumes of pixels without artifacts or flickers. Moreover, companies have developed their own proprietary holographic and volumetric projection technologies based on digital light processing; for instance, Digital Light Shaping technology developed by RealView Imaging Ltd, and HoloVizio technology developed by Holografika. Hence, in addition to DLP, the proprietary projection technologies developed and used by various companies in the Europe 3D display market are also included under this segment.
Russia, the UK, France, Spain, Italy, and Germany are among the worst affected member states in the European region due to the outbreak of COVID-19. Businesses in the region are facing severe economic difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. The region is a major manufacturing and industrial hub for sectors such as consumer electronics and automotive sectors. Hence, due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to witness an economic slowdown till mid-2021. The member states of Europe such as Italy, Spain and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major market for 3D display adoption and growth due to the high purchasing power of individual customers and boosting advertising industry. The region is highly involved in investing in 3D display technologies for automotive industry. Major automotive players such as Continental AG and Volkswagen Group have implemented holographic displays in their vehicles. However, due to COVID-19, the manufacturing of 3D displays devices have seen a sharp decline in European countries and the automotive and other industries are expected to be under stress till mid-2021 and it will require time to stabilize. In addition to this, the disruptions in raw materials and electronic component supply from China will further aggravate the manufacturing industries in this region. All these factors are expected to have a negative impact on 3D display market growth in European countries.
The overall Europe 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 Europe 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 Europe 3D display market. AU Optronics Corp.; Fujifilm Corporation; Innolux Corporation; Leia Inc.; 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 Europe 3D display market.