"Increasing demand of Haptic Holograms in Media & Advertising Industry boosts the Global Haptic Holography Market"
The global haptic holography market was valued at US$ 351.0 Mn in the year 2021 and expected to reach US$ 11,468.7 Mn by the year 2030, expanding at a CAGR of 38.5% during the forecast from 2023 to 2030.
As humans are moving towards the more digitalized world, technologies to blend the virtual world with physical world is an 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 projected to gain momentum during the forecast period. Increasing demand for real-time imaging and transfigure imaging are some of the key factors responsible to uplift the market growth. Moreover, increasing adoption of haptic holography for product promotion, advertising, marketing, medical scanning, education, entertainment, and other applications have provided momentum to the market growth.
Intelligent holograms also help companies in their product planning & development, sales promotion, large-scale presentation, and for immersive interaction. For instance, in October 2021, 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.
"Consumer Electronics Application Segment anticipated to witness proliferating growth during the Forecast Period"
The consumer electronics segment anticipated to witness marvelous growth during the forecast period due to the rising adoption of smart wearable and electronic devices. In addition, the rising trend of smart, durable, and small-sized electronics have 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. 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.
Presently, 3D holographic technology is remarkably used in commercial applications such as advertising, marketing, brand promotion, and other presentations. Holographic kiosk and digital signage are transforming the retail industry significantly. Looking at robust demand for holographic kiosks from retail industry market players are also investing prominently in developing new advanced holographic kiosks. For instance, in the first quarter of 2021, ARHT Media Inc. announced to launch its first unmanned interactive holographic kiosk.
"North America dominated the Global Haptic Holography Market in the year 2021"
In 2021, North America held the largest revenue share in the global haptic holography market and anticipated to lead the market during the forecast period. The significant market growth is mainly attributed to the presence of sophisticated system for financial radical ideas. In addition, the adoption of upcoming inventions and technologies are frequent throughout various business sectors. Recently, Walmart announced its partnership with HYPERVSN for using holographic projection in retail advertising. Besides this, automobile leaders are integrating intelligent holographic projection technology for transforming the automotive mirrors into an intelligent dashboard.
The Asia Pacific projected as the fastest growing region owing to the largest consumer electronics marketplace. Next to North America, Asia Pacific has 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 alluring opportunity for the market players to tap a larger consumer base by its attractive features. In the wake of 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 product.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Haptic Holography market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
