Live Event Holograms Market Size (2024 – 2030)

The Global Live Event Holograms Market was valued at USD 4.66 billion and is projected to reach a market size of USD 16.31 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 19.6%.  The market is being driven by factors such as increased demand for digital holography in commercial applications and increasing acceptance of digital holography in the financial sector for security purposes. Moreover, holographic displays are also utilized in digital signage, billboards, point-of-sale terminals, kiosks, public spaces, and events which is fueling the market expansion.

INDUSTRY OVERVIEW

A holographic display technique uses light diffraction to generate a simulated three-dimensional image or objects in volumetric space. Augmented reality (AR), virtual reality (VR), mixed reality (MR), and holographic communications are all becoming more popular in business, live events, and other commercial activities. This technology may be employed in a variety of businesses and sectors, including the healthcare industry for medical imaging and for live events, where technical information needs to be communicated in a clear, comprehensive, and engaging manner.

Holograms are in high demand due to advancements in 5G technology and the growing popularity of digital twins for creating 3D representations of actual things. Businesses and startups may use 3D holographic displays to create a visual brand experience for customers by combining tangible objects with a 3-dimensional digital overlay. Furthermore, the rapid expansion of the holographic display market is accelerated by the rising acceptance rate of holographic displays for advertising and events.

3D holographic displays and services provide a novel and distinctive approach to showcasing or advertising things and promoting items in a distinctive approach to improve consumer experience and interactions. Holograms are also being used to provide 3D presentations for conference rooms and meetings, with "free-floating" 3D holograms explaining project information. Additionally, holographic displays may be tailored to meet industry-specific requirements, which presents a market development opportunity. In light of these reasons, the market is expected to rise gradually in the future.

COVID-19 IMPACT ON LIVE EVENT HOLOGRAMS MARKET

The COVID-19 pandemic has had a significant impact on the display sector, with production activities being temporarily halted in major industrial hubs, causing supply chain disruption. The global pandemic's emergence has been a major setback for the industrial and retail industries. The COVID-19 epidemic has had a negative influence on the holographic display business, as a large portion of the global workforce works from home. This has resulted in a decrease in advertising spending, lowering demand for holographic displays. However, businesses and enterprises are using hologram technology for doing conferences and live events. Organizations may now virtualize their events rather than relying on substandard webcasts. Executives and presenters virtually appear on a live event platform from their homes or offices, which is then broadcast to hundreds, if not thousands, of online spectators. Because more people are working from home, this new generation of streaming events will quickly become the new norm for organizations looking to promote their brand, launch goods, reassure existing customers, and attract new customers. Additionally, organizations are now confronted with whole new work dynamics that necessitate engaging in streaming live events that boost morale and keep the corporate community alive for a homebound workforce.

MARKET DRIVERS: 

The use of Holograms for advertisement purposes by businesses is driving the market growth

A hologram is a technology that uses light diffraction to generate a simulated three-dimensional image or objects in volumetric space. The 3D images produced by hologram intrigue the customers and grabs their attention. Businesses and startups may use 3D holographic displays to create a visual brand experience for customers by combining tangible objects with a 3-dimensional digital overlay. Furthermore, the rapid expansion of the holographic display market is accelerated by the rising acceptance rate of holographic displays for advertising and events and thus is propelling the growth of the live event hologram market.

The use of Holograms for presentation by big corporations is fueling the market expansion

Hologram technology is now accessible, and it may be frequently used at business conferences in the next years. It can help speakers and organizers save money, and time, and reduce carbon emissions. Many challenges have arisen as a result of the Covid-19 outbreak when it comes to hosting corporate conferences and gatherings. Among them are factors such as keynote speakers and important visitors having to cancel their visit owing to the illness. If a speaker is infected with the virus, they will be unable to participate in the event. Holographic technology might eliminate that element, allowing presenters to attend events in hologram from the comfort of their own homes. Holographic technology uses many cameras to catch the speaker from various angles, creating a 3D appearance that gives the impression that the presenter is in the room. For both the speaker and the audience, graphs, charts, and other presentation aspects can be replicated in 3D form. Not only would this be excellent for the environment, but it may also save travel times and deliver a considerable long-term return on investment. It guarantees that events go smoothly without a hiccup from Covid and that speakers are presented in a far more interesting manner than a Zoom call.

MARKET RESTRAINTS:

The high cost of digital holographic products is acting as a major factor restraining the market expansion

The cost of purchasing digital holographic microscopy instruments or holographic screens is too expensive which is acting as a hindrance to the market growth. The technology is often costly, with objective lenses and the need for specialized digital imaging systems driving up the overall expenditure. Furthermore, this technique has a restricted number of applications due to the high computing cost of processing holograms. Computing holographic reconstructions require a lot of processing power, memory, and storage when holography is employed for 3D imaging methods.

Lack of technological awareness about the hologram in the market is hampering the adoption of hologram technology

Digital holography is widely used in a variety of applications. Professionals, on the other hand, have a lack of knowledge of this crucial technology. Despite several technical improvements in the sector, certain challenges like positioning and installing the system for a perfect holographic display projection remain a difficulty for this business. In the domain of holographic displays, there are just a few experienced technicians. Another problem is, creating a realistic and economically feasible genuine 3D display based on holographic technology. Light deflection necessitates characteristics that are similar to light wavelengths shorter than a micron. This is a serious technical issue that will make display design difficult in terms of manufacturing, computing, and bandwidth and thus act as a major setback in the growth of the market.

LIVE EVENT HOLOGRAMS MARKET REPORT COVERAGE:

This research report Live Event Holograms Market has been segmented and sub-segmented based on Offering, By Application, By Vertical, and By Region.

LIVE EVENT HOLOGRAMS MARKET– BY OFFERING

• Hardware
• Software

Based on offering, the Live event hologram market is segmented into Hardware and Software. Among these, during the projected period, the software market is predicted to rise at a faster CAGR. The reconstruction of holographic pictures is done using software algorithms on computers. These algorithms provide high-quality photos with 3D visualization in a shorter amount of time in advanced systems. Computerized algorithms are increasingly being employed for image processing in digital holographic displays and holographic telepresence. This is likely to have a positive impact on the development of the software segment for projection, imaging, and reconstruction.

LIVE EVENT HOLOGRAMS MARKET– BY APPLICATION

• Digital Holography Microscopy
• Digital Holographic Displays
• Holographic Telepresence

Based on Application, the Live event hologram market is segmented into Digital Holography Microscopy, Digital Holographic Displays, and Holographic Telepresence. Among these, Digital Holographic Displays is contributed significantly to the market growth and are projected to have the maximum market share over the forecast period of 2023 - 2030. High-pixel density is enabled by rapid advancements in spatial light modulators and fast processors, allowing for realistic, colorful, and high-quality 3D motion-picture image generation on a holographic display without the use of lenses. With motion parallax and constant depth indications, these displays customize light fields to simulate realistic 3D visuals. Due to inherent restrictions such as low resolutions and angular Field-of-View (FoV), holographic displays now available can only give a portion of the essential visual signals. However, developments in photonics, microelectronics, and computer engineering are likely to lead to complete parallax digital holography displays with acceptable rendering quality. Thus, the aforementioned reason is acting as a positive influence on the market growth.

LIVE EVENT HOLOGRAMS MARKET– BY VERTICAL

• Conference
• Commercial
• Education
• Advertising
• Live Stage Shows
• Others

Based on verticals, the Live event hologram market is categorized into Conference, Education, Commercial, Advertising, and live stage shows among others. Among these, the commercial sector currently dominates the hologram market. Holograms are very captivating during events, which is why they are so popular in the commercial sector. Customers and staff alike are impressed and enthralled by them. Digital holograms offer a wide range of business uses, ranging from live streaming events to product launches. The music industry is also using hologram technology as high-tech concerts are becoming a trend that enables the audience to experience the landmark concerts of celebrated artists from a remote place. With holographic visuals growing increasingly realistic, this is a trend that is poised to change the concert experience for audiences all around the world.

Hologram technology is widely being used by large corporations to hold conferences and product launches which is a prime reason propelling the market growth. Holograms breakthrough time and space boundaries. As a result, holographic telepresence enables present speakers at various events at the same time or in separate periods. Due to their adaptability, ease, and engaging appeal, holograms are becoming a popular and new trend for conferences.

LIVE EVENT HOLOGRAMS MARKET– BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East 
• Africa

By region, the Live event hologram market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa. North America is projected to account for the largest market share over the forecast period. North America is technologically advanced, and it is likely to be a leader in the worldwide digital holography market as an early user and adopter of innovative technologies. The market growth in the region is also aided by the prevalence of major companies associated with digital holography solutions. The increased need for holographic solutions in a variety of industries, including commercial, aerospace & military, medical, and others, is a major driver of market expansion in the area. Moreover, retailers have increased their desire for holographic displays for business uses is the reason for positive influence on the market growth.

The Asia-Pacific holographic display market is anticipated to grow at the highest rate over the projected period. The Asia Pacific region is poised to witness a CAGR of over 30% during the projection period. The market growth in the region is attributed to the existence of emerging economies such as China, Taiwan, and South Korea, as well as nations that are well-developed in the consumer electronics industry. The expansion of the Chinese holographic display market has been aided by expanding consumer electronics sales, and the increased need for digital signage technologies in the commercial, entertainment, and advertising sector.

LIVE EVENT HOLOGRAMS MARKET– BY COMPANIES

Due to the existence of several companies in the industry, the holographic display market looks to be fairly concentrated. The key competitors in the industry are concentrating on technical developments. The players are employing various techniques, such as acquisitions, partnerships, and joint ventures, to increase market share, with only the top firms benefiting. Some key players operating in the market are,

1. HYPERVSN
2. Nanjing DSeeLab Digital Technology Co.
3. Voxon Photonics
4. Light Field Lab, Inc.
5. SeeReal Technologies
6. MDH Hologram Ltd.
7. VividQ 

NOTABLE HAPPENING IN LIVE EVENT HOLOGRAMS MARKET

• PRODUCT LAUNCH- In May 2020, Looking Glass Factory announced that its holographic display technology would be compatible with the UE4 plugin, allowing content makers to visualize ideas on its holographic displays. The new capability may be used in a variety of sectors, including automotive, architecture, mapping and GIS, and medical imaging.
• PRODUCT LAUNCH- In August 2019, The Looking Glass Factory released the Looking Glass Pro. It has a built-in Intel NUC 8 VR NUC8i7HVK microprocessor, a 15.6-inch display area, and weighs 25 pounds. It has the feature that it can work independently and there’s no need for it to connect with a PC or workstation.
• PRODUCT LAUNCH- In March 2020, Exhibitry, a Houston-based tech startup, has released a new version of ProductMapper and HoloTable, two new holographic solutions for the display business in their range of holographic technologies.