Report : Europe 3D Display Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Stereoscopic 3D Display and Autostereoscopic 3D Display), Technology (Digital Light Processing, Organic Light Emitting Diode, and Light Emitting Diode), and Application (Consumer Electronics, Automotive, Medical, Advertising, Retail, Military and Defense, and Others)
Digital Light Processing Segment to Dominate Europe 3D Display Market during 2020–2028
According to a new market research study on “Europe 3D Display Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, and Application” is expected to reach US$ 738.39 million by 2028 from US$ 143.30 million in 2021. The market is estimated to grow at a CAGR of 27.5% from 2021 to 2028. The report provides trends prevailing in the Europe 3D display market along with the drivers and restraints pertaining to the market growth. Rising industry collaborations is going to increase the demand of 3D displays and this is the major factor driving the growth of the Europe 3D display market. However, problems related to 3D display technologies hinders the growth of Europe 3D display market.
The Europe 3D display market is segmented into type, technology, application, and country. Based on type, the Europe 3D display market is segmented into stereoscopic 3D display and autostereoscopic 3D display. Autostereoscopic 3D display segment held the largest market share in 2020. Based on technology, the 3D display market is divided into digital light processing, organic light emitting diode, and light emitting diode. Digital light processing segment held the largest market share in 2020. Based on application, the Europe 3D display market is divided into consumer electronics, automobile, medical, advertising, retail, military and defense, and others. Advertising segment held the largest market share in 2020. Based on country the Europe 3D display market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Rest of Europe held the largest market share in 2020.
Russia, the UK, France, Spain, Italy, and Germany are among the worst-affected European countries by the COVID-19 pandemic. Businesses in the region are facing severe economic difficulties as they had to suspend operations or reduce activities in a substantial manner. The region is a major manufacturing and industrial hub for sectors such as consumer electronics and automotive. Hence, due to business lockdowns, travel bans, and supply chain disruptions, Europe witnessed an economic slowdown till Mid-2021. Italy, Spain, and Germany implemented drastic measures and travel restrictions to limit the spread of COVID-19 in 2020 and in several months in 2021. European countries are the major developers and adopters of 3D displays due to the high purchasing power of people and the presence of evolved advertising industry. The region invests huge resources in the development of 3D display technologies for the automotive industry. Major automotive players such as Continental AG and Volkswagen have implemented holographic displays in their vehicles. However, upon the onset of COVID-19, the manufacturing of 3D display devices witnessed a sharp decline in European countries, and automotive and other industries were under stress till mid-2021. Moreover, disruptions in raw materials and electronic component supply from China further aggravated the difficulties of manufacturing industries in this region. All these factors limited the 3D display market growth in Europe in 2020 and early 2021.
AU Optronics Corp., BOE Technology Group, Fujifilm Corporation, Innolux Corporation, Leia Inc., LG Electronics Inc., Looking Glass Factory Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Sony Corporation, and Toshiba Corporation are among the leading companies in the Europe 3D display market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Sambil in Madrid was the first cinema in Spain to use Samsung’s 3D Onyx Cinema LED screen. The 3D Onyx Cinema LED screen is powered by 4K high dynamic range technology (HDR) for cinema screen application.
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