3D Glass Market To Reach USD 5.71 Billion at a CAGR of 13.3% By 2030 - Report by Market Research Future (MRFR)
Global 3D Glass Market Headed by Growing AR Applications
New York, US, March 30, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “3D Glass Market” Research Report: By Type, Applications, Material - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 5.71 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 13.3% during the assessment timeframe.
The growing popularity of wearables and increasing AR applications will allow the 3D glass market to witness significant demand during the next few years. Besides, the increasing demand for excellent customer and user viewing & hearing experience would create vast market demand.
The 3D glass market is growing with drivers like improved display performance, size & price optimization, computational power, and auto-stereoscopic technology. The growing demand from various industry verticals, such as smartphones, healthcare devices, and IT & telecommunications, will foster the 3D glass market size.
Additionally, the high adoption of 3D glasses in smart devices and advances in cloud-based technologies in education, gaming, military, and industrial applications bolster the market shares. The use of 3D glasses is increasing due to their use in smartphones and notebooks. Moreover, the broader availability and adoption of 3D glasses and the government's focus on digitization push the market increase.
Players leading the global 3D glass market include
Lens Technology (China)
BYD Electronic Company Limited (China)
CPT Technology Co. Ltd. (China)
Samsung Electronics Co. Ltd.
Henan Comyoung Electronics Co. Ltd.(China)
Zhejiang Firstar Panel Technology Co. Ltd. (China)
G-TECH Optoelectronics Corporation (Taiwan)
Corning Inc. (US)
Dongguan RBD Technology Co. Ltd. (China)
Shenzhen O-film Tech (China)
Apple Inc. (the US)
JiangXi Holitech Technology Co. Ltd. (China)
Sharp Corporation (the US)
Triumph Science and Technology (China)
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Revenue forecast in 2030
USD 5.71 Billion
CAGR of 13.3% from 2020 to 2030
Key Market Opportunities
A large proportion of online videos, games, images are streamed in high quality on smartphones, giving the 3D glass market an opportunity to grow.
Key Market Drivers
Smartphone based augmented reality and virtual reality headsets that tend to involve the 3D holographic technology into smartphones.
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3D Glass Market Segments
The 3D glass industry is classified as components, production materials, enabled mobile devices, applications, and regions. The device component segment is bifurcated into 3D displays, image sensors, and others. The production material segment is bifurcated into glass substrates, polishing materials, coating materials, and others.
The enabled mobile device segment is bifurcated into 3D-enabled mobile devices, including smartphones, tablets, eyewear, notebooks, and other 3D-enabled devices. The application segment is bifurcated into mobile advertisements, animations, mobile gaming, maps & navigation, and others. The region segment is bifurcated into the Americas, Asia-Pacific, MEA, Europe, and rest-of-the-world.
Globally, North America accounts for the largest 3D glass market share. Factors such as large technology advances and well-established infrastructure in the region drive the 3D glass market growth, allowing faster implementation of advanced technologies. Technological upgrades are key growth drivers behind regional market growth. Besides, government initiatives and incentives to encourage companies to invest in developing 3D glass applications, such as power electronics, non-electronic components in wearables, and mobile accessories, influence market revenues.
The Asia Pacific region is another profitable market for 3D glasses. Major factors bolstering the 3D glass market share include the high adoption of 3d glasses in smart devices and advances in cloud-based technologies in the education, gaming, military, and industrial sectors. Also, the growing demand for AR glasses from various industry verticals, including smartphones, healthcare devices, and IT & telecommunications, fosters the 3D glass market size.
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Highly competitive, the global 3D glass market appears fragmented due to the presence of several well-established players. The electronics industry largely depends on silicon, the basic microprocessor semiconducting substrate. There are certain top-down semiconductor manufacturing restrictions that need to be addressed using a bottom-up approach and harnessing additive manufacturing.
It is quite challenging to make complicated, three-dimensional geometries with traditional photolithography techniques as it requires significant chemicals and processes. Therefore, engineers focus on the development of nanostructures of glass and crystal for electronic & photonic devices, using an advanced 3D printer and ink. Players incorporate strategies such as mergers & acquisitions, collaboration, expansion, and product & technology launches to gain a larger competitive advantage.
For instance, on Dec. 31, 2022, Meta Platforms Inc., Facebook's parent company, announced the acquisition of Luxexcel Group B.V., a 3D printed lenses startup, to build smart glasses to improve future augmented reality glasses. Luxexcel's 3D printing technology enables the direct integration of almost any device into a lens. Its ability to integrate technology into a lens to create smart glasses attracted Meta to this deal.
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Luxexcel is based in the Netherlands & Belgium, and it enables its clients to build 3D print prescription lenses in large quantities, create better lenses, and integrate smart technology into lenses. Its VisionPlatform includes a 3D printer, software, printing processes, and proprietary lens printing materials, aiding the production of high-quality lenses. Luxexcel's technology has the potential to build prescription lenses & smart glasses and power the next generation of AR smart glasses.
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