Key Market Dynamics in Digital Holography Market

Northbrook, USA, 2020-Jan-24 — /EPR Network/ —

The digital holography market is currently at a nascent stage and is expected to accelerate further in the coming years. In terms of value, it is expected to grow from USD 2.2 billion in 2019 to USD 5.4 billion by 2024; growing at a CAGR of 19.8% from 2019 to 2024. The growth of the digital holography market is driven by factors such as rising demand for digital holography in medical and commercial applications; and the increasing use of digital holography microscopy for precise measurements. Moreover, the growing adoption of digital holography in the financial sector for security purposes is expected to drive the digital holography market. On the other hand, factors such as the high cost of digital holographic systems, and computational complexities in the acquisition and reconstruction of holograms are barriers inhibiting the growth of this market.

The digital holography market, by offering, has been segmented into hardware and software. The hardware segment is expected to hold a larger size of the digital holography market during the forecast period. A digital holographic system consists of different types of hardware components for image acquisition and reconstruction. These hardware components include lasers, beam splitters, CCD or CMOS cameras, beam combiners, spatial filters, mirrors, projection devices, and digital micromirror devices. CCD or CMOS cameras are the most important components for image acquisition. As the cost of CCD cameras is higher than that of other components used in digital holography, these cameras hold the largest market size. The hardware components help to capture the specimen. The initial cost required for these hardware components is quite high owing to which the hardware segment is expected to hold the largest size of the market.

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The market for digital holographic microscopy (DHM) is expected to grow at the highest CAGR during the forecast period. Digital holography is an emerging technology in general imaging applications. In medical and biomedical sectors, digital holographic microscopes are used to display 3D images of living cells in real time. DHM is also employed in the manufacturing industry for defect inspection, Micro-Electro-Mechanical Systems (MEMS) measurement, and surface finish. Holographic inspection has eliminated compressor seal bond failures, yielded large financial savings to the manufacturers, and greatly enhanced customer satisfaction and cost savings. There is a high demand for holographic microscopes in industrial and material science sectors. The attractive features of DHM such as high-acquisition rate, the monitoring of physiological and pathological activity of cells and tissue culture, along with non-contact, non-destructive, and marker-free capabilities in vivo imaging are driving the adoption of DHM in medical applications.

The digital holography market for the medical vertical is expected to grow at the highest CAGR during the forecast period. The increasing use of digital holography in clinical applications in the healthcare sector coupled with the growing adoption of holographic displays in diagnostic imaging for medical education, biomedical research, and other training purposes is expected to further propel the demand for digital holography in medical applications. In this sector, the demand for microscopes for DNA diagnosis and nanoscale research purposes is expected to remain high.

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North America is expected to dominate the digital holography market, in terms of size, during the forecast period. The majority of the demand for digital holographic systems in the region is from the US. The region is technologically advanced and an early adopter of emerging technologies and is expected to be a front runner in the global digital holography market. Additionally, North America is home to major vendors of digital holography solutions; the high demand for holographic solutions in various industries such as commercial, aerospace & defense, medical, and others is a dominant driving force substantiating the market growth in the region. Growing commercial spaces, coupled with escalated demand for holographic displays is driving the said market in North America.

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