[FURL=https://www.industryarc.com/Research/Light-Field-Market-Research-505432?utm_source=Briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Light Field market[/FURL] size was valued at $1.0 billion in 2020, and it is estimated to grow at a CAGR of 8.9% during 2021-2026. The growth is mainly attributed to the increasing demand for light field technology in visual effects technology in media and entertainment, just-in-time marketing, rising need of prototyping, and emerging 4D and 5D technologies is set to drive the market. Furthermore, growing awareness towards technology advancement manufacturers and consumers regarding 3D imaging technology is set to drive the light field market. The rising use of Light Field for 3D Mapping, 3D Rendering and 3D Scanning in particular will drive market growth. Apart from this, the growing applications in Image reconstruction in Architecture sector will also drive market growth.
Key Takeaways
North America dominated the Light Field market in term of revenue in 2019 owing to the presence of major number of players and adoption of advanced technologies.
Adoption of advanced technologies such as IoT, automation technologies in industries and stringent regulations to use advanced equipment is poised to propel the market growth.
Factors such as growing adoption of high computational capability, 3D Scanning and 3D mapping, artificial intelligence, and machine learning technologies, are expected to positively impact the market growth of the light field over the forecast period.
Lack of infrastructure is the major challenge that hampers the market growth.
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Light Field Market Segment Analysis – By Geography
North America dominated the Light Field market in 2020 with a market share of 35.28%, followed by Europe and APAC owing to the presence of large number of players. In addition to these, high adoption of advanced technologies in industries drives the market growth in this region. Moreover, this region has been amendable towards adopting light field and 3D mapping and 3D Scanning within the companies for enhancing visualization and augmenting customer experience and this is set to drive the market.
Light Field Market Drivers
Increasing demand for light field technology in media and entertainment
Emerging 4D and 5D technologies
Light Field top 10 companies include Lytro, Avegant, FoVI, Japan Display Inc, OTOY, Light Field Lab, Holografika, Raytrix, Leia, Toshiba, Ricoh Innovation, Sony Corporation, and others.
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