Hologram Market to Reach $20.1 billion, Globally, by 2032 at 21.5% CAGR: Allied Market Research
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Prime Determinants of Growth
The hologram market is expected to witness notable growth owing to the rise in demand of hologram in medical applications. Moreover, technological advancement is expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high cost within the hologram market limits the growth of the hologram market.
Report Coverage & Details:
Rise in demand for hologram in medical applications
The Software segment to maintain its leadership status throughout the forecast period
On the basis of component, the software segment held the highest market share in 2022, accounting for more than three-fifths of the global hologram market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing adoption of augmented reality (AR) and mixed reality (MR) technologies, which heavily rely on sophisticated software algorithms. However, the hardware segment is projected to manifest the highest CAGR of 22.36% from 2023 to 2032.
The Medical segment to maintain its leadership status throughout the forecast period
On the basis of industry vertical, the medical segment held the highest market share in 2022, accounting for more than one-fourth of the global hologram market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the Defense segment is projected to manifest the highest CAGR of 25.27% from 2023 to 2032, owing to the widespread adoption of hologram in defence sector globally.
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North America to maintain its dominance by 2032
On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the hologram market revenue owing to the presence of a myriad of players in the region such as AV Concepts, Eon Reality Inc., Qualcomm, Zebra Imaging, Provision Holdings Inc., ViewSonic Corp., and many others. The presence of a significant number of players in North America is anticipated to drive the growth of the hologram market in this region.
Moreover, Asia-Pacific is projected to manifest the highest CAGR of 23.44% from 2023 to 2032 owing to rising demand for consumer electronics products in developing economies such as China, Japan, India, South Korea, and Taiwan. Therefore, the rising demand for consumer electronics products in the Asia-Pacific region is expected to accelerate the growth of the global hologram industry.
Leading Market Players: -
The report provides a detailed analysis of these key players in the global hologram market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Hologram Market Key Segments:
By Component
By Industry Vertical
By Region:
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