Report : Middle East and Africa 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)
Automotive Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to a new market research study on “MEA 3D Display Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, and Application” is expected to reach US$ 129.75 million by 2028 from US$ 27.42 million in 2021. The market is estimated to grow at a CAGR of 24.9% from 2021 to 2028. The report provides trends prevailing in the MEA 3D display market along with the drivers and restraints pertaining to the market growth. Huge impact of latest 3D display technologies in end-user sectors is the major factor driving the growth of the MEA 3D display market. However, problems related to difficulties faced in 3D display technologies hinders the growth of MEA 3D display market.
The MEA 3D display market is segmented into type, technology, application, and country. Based on type, the MEA 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 MEA 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 MEA 3D display market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. UAE held the largest market share in 2020.
In the MEA, Turkey has recorded the highest number of COVID-19 cases. Other countries facing the economic impact of COVID-19 are Iran, South Africa, Israel, Iraq, Morocco, Saudi Arabia, and the UAE. The UAE and Saudi Arabia are potential markets for 3D display providers owing to the huge presence of a diverse customer base for the automotive and consumer electronics industries. In addition, factory and business shutdowns, and travel bans are further aggravating the economic problems of countries in the MEA. Hence, a decline in the region’s economic condition and the restrictive effects of COVID-19 on various industries are expected to limit the growth of 3D display market in this region.
AU Optronics Corp., BOE Technology Group, Fujifilm Corporation, Innolux Corporation, LG Electronics Inc., Looking Glass Factory Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Group, Sharp Corporation, and Toshiba Corporation are among the leading companies in the MEA 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, Looking Glass Factory Inc. launched Looking Glass 8K, a 32’’ 8K-resolution 3D holographic lightfield display for medical imaging, retail, and entertainment application.
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