The stereoscopic display segment dominated more than 70% of the market share in 2019 and is anticipated to witness 27% growth rate through 2026. The major factor accelerating the stereoscopic display demand is the commercial expansion of home entertainment, stereoscopic cinemas, and gaming applications. These types of 3D displays will reduce crosstalk and enhance the full-color spectrum of displaying images.
Therefore, the majority of the market participants in the consumer electronics sector, such as Samsung, Panasonic, and Sony, are integrating this display technology to cater to the high demand of consumers. Apart from this, companies are continuously inclined toward the integration of these display systems into new products, such as monitors and digital signages, stimulating the industry growth.
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The OLED segment in the 3D display market accounted for 10% of revenue share in 2019 and is expected to attain a CAGR of 30% till 2026. The growth is majorly attributed to the increasing penetration of OLED in smartphones. This display technology offers a high contrast ratio and a wide-angle view in mobile screens, fueling its usage by major smartphone manufacturers such as Apple, Samsung, and Oppo, among others.
Market participants are also continuously inclined toward technology innovation in OLED displays, accelerating the 3D display market progression. In August 2020, LG Display showcased its next-generation OLED technologies at the Society of Information Display Conference 2020. The company has unveiled its new transparent and foldable OLED technology in various screen sizes for 3D, AR/VR, and automotive applications. The integration of this foldable OLED technology into smartphones will influence the offerings for virtual reality, 3D sensing, and custom gaming applications, boosting the industry expansion.
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Projector devices captured 15% of the 3D display market share in 2019 and is poised to expand at 30% CAGR by 2026. Growth is majorly credited to the rising adoption of 3D projectors in the home theaters, cinemas, and educational sector in the U.S. and other developed nations. Market players are continuously involved in innovating projector devices that will foster the demand for 3D displays in the coming years.
The rising acceptance of projector devices in the educational sector will positively influence the 3D display market demand during the forecast period. The 3D display projector eliminates the requirement for PC connection and delivers an interactive whiteboard capability with the integration of software tools. Additionally, rising government initiatives for digital education are further impelling the market for 3D displays.
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North America 3D display market held 35% of revenue share in 2019 and is predicted to register growth of over 27% during 2020 to 2026. Growth is majorly attributed to the rising trend of online gaming in the region. According to the report generated by Pew Research Center in 2018, 43% of adults in the U.S often play video games on Television, computer, and portable devices. Therefore, to enrich the advent of AR & VR technologies in online games, consumers are inclined to adopt 3D display devices, propelling the industry progression.
Adding to this, the lockdown scenario due to the COVID-19 pandemic has accelerated the propulsion of online games among the population. According to Verizon Communications, a 5G service provider in the region, between March 5 to March 12, 2020, there was a 75% increase in gaming traffic and a 20% increase in web traffic. Furthermore, the penetration of 5G technology in the region will further boost the usage of smart devices and gaming consoles, driving the industry value