The Global Market for Holography in Industrial Applications is Projected to Reach US$20.5 Billion by 2022

Growing Importance of Product Testing & Quality Control to Drive Adoption of Holography for Industrial Applications, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global market for Holography in Industrial Applications. The global market for Holography in Industrial Applications is projected to reach US$20.5 billion by 2022, driven by the growing focus on product testing and rising adoption in non-destructive testing of materials.

Hologram can be defined as a type of photographic image offering 3-D effect. The holography technique is used to produce holograms, and is also used for optically storing, processing and retrieving information. Holography is widely used in industrial applications for scanning, testing and generating holographic optical elements that are mostly used in engineering and industrial applications. The technology finds widespread application in quality control in production and testing. Especially in testing arena, holography is used in holographic interferometry, which is now commonly used for testing, analysis and study of stability in materials. Holographic Interferometry (HI) is a surface inspection technique to measure the dynamic and static displacement of optically rough objects at precisions equal to a fraction of light wavelength (optical interferometric precisions). Computerized techniques today enable the use of this method to be integrated with embedded hardware and required software, thereby automating the entire system.

One primary area where holographic interferometry is used is in non-destructive testing of materials. Holographic nondestructive testing (HNDT) is widely used for locating and evaluating disbonds, cracks, voids, inhomogeneity, residual stresses, and delaminations in a test sample without damage to the sample. HNDT is also used for measuring deformations on the surface of an object.  With consumers becoming increasingly concerned about residual life of capital assets, interest in test solutions that can help identify defects and provide early warnings to avoid adverse consequences is on the rise. As a method of testing materials and components for identifying and quantifying any degradations, imperfections or defects in material properties before they cause failure of a machine, equipment or any physical asset, that too without leading to any damage to the said machine or the equipment, Non-Destructive Testing (NDT) technique is finding great demand in industries, thereby creating business case for Industrial Holography.

Holographic scanners contain multiple lenses capable of focusing at different distances and reading bar codes from any angle and height. Holographic scanning technology is widely used in large scan areas in warehouse distribution, packaging, and material handling. In particular, holographic scanning is gaining rapid popularity in material handling applications. Advancements in holographic technology will drive the adoption of this technology in material handling. CD-sized holodisks are likely to emerge as innovative and cost effective holographic scanners in the coming years.

As stated by the new market research report on Holography for Industrial Applications, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.6% over the analysis period led by factors such as stable GDP in most emerging Asian economies; expanding manufacturing base and industrial infrastructure, strong emphasis on quality standards especially among export-oriented industrializing countries, and a parallel rise in investments in quality control tools and solutions.  Holographic Scanning represents the largest revenue contributor, while Holographic Optical Elements represents the fastest growing product segment with sales waxing at a CAGR of 8.1% over the analysis period.

Key players covered in the report include 3D AG, AHEAD Optoelectronics Inc., API Group Plc, CFC International Inc., Crown Roll Leaf Inc., De La Rue Holographics, Headwall Photonics Inc., Holographix LLC, Holtronic Technologies Plc, ITW Holographics, JENOPTIK Microoptics Group, K Laser Technology Inc., Kaiser Optical Systems Inc., Laser Technology Inc., Luminit LLC, OpSec Security Group Plc., Optaglio Limited, Optometrics LLC, Spectratek Technologies Inc., SURYS and Zebra Imaging Inc., among others.

The research report titled “Holography for Industrial Applications: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. End-Use applications analysed in the report include Holographic Scanning, Holographic Industrial Testing, and Holographic Optical Elements.

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