Light Field Market Analysis

Light Field Market Analysis

Imaging solutions are witnessing high adoption rates in the light field market. These solutions accounted for majority of the industry share in 2017. The solutions are being widely used in several sectors for performing careful and important investigations of industrial processes. These processes include infrared & thermal imaging, molecular structure examination, and other medical process examinations & analysis.

Complex structures and techniques can be carefully examined by the application of these technologies. The growing demand for such techniques in several industries including chemical, robotics, automobile, and healthcare is anticipated to propel the light field market size. Moreover, these solutions consist of development kits which contain software, hardware, and other support services that allow companies and businesses to develop innovative mixed reality solutions.

In the light field market, architecture & engineering segment is expected to grow at a CAGR of around 15% over the forecast timespan. The applications of the technology in architecture & engineering is growing rapidly owing to the rising adoption of the products for 3D rendering, 3D scanning, and 3D modeling. It provides effective solutions to engineers & architects, allowing them to perform their engineering tasks more accurately and efficiently. Earlier, engineers used to analyse the infrastructure component using 2D images, which did not offer accurate results.

With technological advancements and innovations in the industry, engineers are now provided with 3D images or models of infrastructure that help them to analyse complex areas, where system failure may happen. Moreover, the manufacturers operating in the light field market are offering high-resolution cameras, which can be refocused after shooting the scene. Such factors are allowing experts to study a specific component or part by obtaining a deeper or enhanced view and find several flaws, which will reduce the maintenance and management costs of the system.

North America light field market accounted for over 55% industry share in 2017 and is witnessing a high adoption of the technology due to growing industrialization and urbanization in this region. Several industrial sectors are planning to incorporate these technologies to modify & simplify their business operations. The U.S. and Canada are experiencing a high adoption rate of such advanced solutions. The strong presence of the global industrial players and their increasing technological advancements & innovations are major factors responsible for such a high adoption. Manufacturers operating in North America are targeting several industrial segments, where applications of the technology are increasing in automotive, industrial, and aerospace sectors. These sectors are partnering with manufacturers to import these advanced solutions for business purposes. Moreover, increased investments in research & development activities by the manufacturers are providing an impetus to the market growth.