Touchable Holography Market size will witness rapid growth during the forecast period driven by continuous innovations and adoption of touchable holographic technology. The technology uses 3D light projection to reveal & transfigure imaging by means of an electronic device or merchandise and integrates physical body movements. Touchable holographic displays are used in various commercial, consumer, medical, and industrial applications for marketing & promotional activities.
The adoption of touchable holography technology has increased due to its touchable transfiguration and real-time image projections, which provide a detailed graphical data of the entity under observation. The introduction of holographic touchable kiosks, devices, and digital signage modules will result in transforming the touchable holography market over the forecast period. These kiosks are gaining high popularity in the retail sector as they help to engage customers, increase traffic, and boost sales. For instance, Provision Interactive Technologies (PIT) developed interactive 3D holographic kiosks that project digital video holograms of popular consumer products. In June 2016, Rite Aid, a retail chain in the U.S., deployed 400 kiosks of PIT in its stores.
3D touchable holographic projection technology is witnessing a high adoption in the advertising industry. As audiovisual projections are gaining popularity, several companies are marketing their business and advertising their products using touchable holography technology. From small retail opening to large-scale big-budget products, holographic projections can be accommodated at any event venues and are not dependent on the size of the launch. Using touchable holographic projection for advertising has become a marketing strategy for various tech giants. MNCs such as BMW, Nike, Coca-Cola, and Nokia have already implemented holographic projections for advertising and marketing their products. The recent trends indicate that there will be a definite surge in the adoption of touchable holography for advertising purposes in the coming years, propelling the market growth. For instance, in January 2017, at ‘Consumer Electronic Show’ BMW advertised a touchable holographic interface called “BMW HoloActive Touch”. Moreover, according to Coca-Cola Mexico, in 2019, there was a 12% increase in sales when its product was promoted with HYPERVSN devices.
The growing adoption of technology in the medical industry is positively impacting the touchable holography market. The technology provides tools to interpret holographic interferograms, boosting its usage across various medical fields including urology, pathology, ophthalmology, and orthopedics. Players involved in the manufacturing of medical holograms are investing heavily in research & development of the technology. For instance, in December 2015, Japanese scientists from Tsubuka University developed touchable hologram to enable improved demonstration of biological processes and procedures. Also, in 2016, Holoxica Ltd. introduced 3D digital human anatomy atlas prototype for neuroscience.
Consumer electronic products integrated with touchable holography foresee a huge growth potential over the forecast period. An extensive use of technology in small products including smartphones and smart gadgets is presenting tremendous opportunities for the touchable holography market. The technology is in its rudimentary stage; therefore, not many features can be implemented at this level due to limitations in computational capabilities and reliable hardware. Moreover, the cost is also a major challenge as 42’’ holographic projection costs USD 98 thousand. However, with further improvement in technology, the cost will reduce in the future.
North America is the key region for the touchable holography market. The U.S. holds a major share in North America. The country has the most sophisticated system of financing radical ideas and is better at adopting inventions across various industries, spreading them throughout the business sectors. Factors such as affluence of its consumers, and competitiveness of products make it an attractive market for touchable holography product manufacturers. Key players in the region have the ability& resources to invest heavily in technology, fueling the market growth in the region.
In Europe, growing investments by manufacturers to offer touchable holographs are being witnessed in the touchable holography market. For instance, in August 2019, Volkswagen Group invested into SeeReal Technologies S.A. to secure its access to future-oriented augmented reality in the field of touchable holographic display technologies for automobiles. The Asia Pacific region presents a lucrative market for touchable holography. China, and Japan are advanced in the consumer electronics industry. The expansion of consumer electronics manufacturing capacity, rising exports to various countries, and declining selling price of the other display technologies such as 4K, LED, LCD, and OLED will increase the adoption of touchable holographic display devices in the region.
Key players operating in the touchable holography market are AV Concepts, Displair, Holoxica Ltd., and Real View Imaging Ltd. Organizations are focusing on technological advancements and increasing their market share through increased investments in R&D activities. For instance, Real View Imaging Ltd. launched HOLOSCOPE-i, a touchable medical holographic system that provides realistic and spatially accurate 3D in air holograms. In April 2019, Toronto General Hospital started using HOLOSCOPE-i to perform live minimally-invasive medical procedure to replace the worn-out surgical valve.
Touchable Holography Market by Type
Market by Application
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