Light Field Market Expected to Reach $323 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Light Field Market," The light field market size was valued at $78.60 million in 2021, and is estimated to reach $323 million by 2031, growing at a CAGR of 15.3% from 2022 to 2031. Light field technology is being used in virtual and augmented reality applications. 2D pictures or movies projected onto a screen or headgear are widely used in traditional virtual reality (VR) and augmented reality (AR) experiences. In contrast, light field technology provides more realistic and immersive VR and AR experiences with greater interactivity and movement. The capacity to provide a more genuine impression of depth perception is one of the primary benefits of light field technology in VR and AR. This can provide a sense of being in a real-world environment, which is very useful for training simulations.

The radiant intensity of light in a plane is captured by a photographic camera. The complete light field in a plane is captured by a light field camera. The radiant intensity and light direction comprise the light field. Thus, if the radiant intensity and direction of light in one plane is known, its intensity and direction in other planes can be computed. This concept enables light field cameras to rebuild a scene's 3D information or refocus the image onto different planes. These benefits are offset by one disadvantage: the generated image from a light field sensor has lower resolution than that of a photo image sensor.

However, some of the disadvantages of light field include lack of advanced ecosystem comprising of hardware and software providers as this technology is relatively new. A limited ecosystem can create several challenges for users and content creators who are interested in adopting light field technology. For example, they may have limited options for purchasing equipment and software that can capture and display light fields. They may also face challenges in finding expertise and support for using the technology effectively.

Light field technology is being investigated for medical imaging applications, such as creating 3D models of organs or tumors. The technology could also be used for remote consultations and training for medical professionals. Retailers are exploring the use of 3D light field technology to create more immersive and interactive shopping experiences. For example, shoppers could use augmented reality to try on clothes or see how furniture would look in their homes. Light field technology could be used in education to create more engaging and interactive learning experiences. For example, students could explore historical sites or scientific phenomena in 3D using virtual or augmented reality. Light field technology could be used in the automotive industry for applications such as autonomous driving and driver assistance systems. For example, light fields could be used to create more accurate and detailed maps that can help autonomous vehicles navigate more safely. These factors are anticipated to boost the light field market growth in the coming years.

The global light field market share is segmented based on technology, industry vertical, and region. By technology, it is classified into hardware and software. By Industry vertical, it is classified into media & entertainment, healthcare, architecture & real estate, industrial, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the light field market report include Japan Display, Fathom Holografika, Light Field Lab, K-Lens, CREAL, AYE3D, Photonic Crystal, Looking Glass Factory, Dimenco, and Wooptix.

The report offers a comprehensive analysis of the global light field market trends by thoroughly studying different aspects of the market including major segments, light field market analysis, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Light Field Industry

• The pandemic has accelerated the growth of e-commerce, as more people shop online to avoid going to physical stores. Light field technology can help create more engaging and interactive online shopping experiences, which could drive demand for the technology
• More people have been working and socializing remotely due to the pandemic, and hence there has been a greater demand for immersive and engaging virtual and augmented reality experiences. This has created new opportunities for the light field market, as the technology can help deliver more realistic and interactive virtual experiences
• The pandemic has caused economic uncertainty and reduced consumer spending in some industries, which could slow down the adoption of light field technology in certain sectors

Key Findings of the Study

• Based on technology, the hardware sub-segment emerged as the global leader in 2021, and software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
• Based on industry vertical, the media & entertainment sub-segment emerged as the global leader in 2021, and the healthcare sub-segment is predicted to show the fastest growth in the upcoming years
• Based on region, the North America market registered the highest market share in 2021 and is projected to maintain the position during the forecast period