Global Volumetric Video Market Size was valued at US$ 1.98 billion in 2021

 


Global Volumetric Video Market Size was valued at US$ 1.98 billion in 2021, and it is expected to reach a value of US$ 10.02 billion by 2028, at a CAGR of 25.73% over the forecast period (2022 - 2028).

Volumetric capture, also known as volumetric video, is a method of capturing a three-dimensional space, such as a location or performance. This type of document collects data that can be viewed on flat screens, 3D displays, and VR goggles. Volumetric video is an interesting and rapidly evolving technology. As a 'new' area, volumetric video applications are constantly being refined, including holograms, digital humans, gaming, training, brand experiences, metaverse experiences, and much more. The capture stage is an important part of the volumetric video, and there are now several volumetric capture studios operating around the world. Furthermore, several companies have emerged in the volumetric video application space, offering specific document management capabilities to monitor and craft experiences with the often-large volumetric capture data.

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The increased use of AR/VR application devices around the world is one of the major factors driving the growth of the volumetric video market. The prevalence of content distribution devices driving demand for 3d graphics, as well as the use of volumetric video by medical practitioners to visualize body parts in a better and simpler way, are driving the market growth. Increased demand for 3D/360° content in the entertainment sector, as well as a rise in the number of studios involved in volumetric content production for moviemaking and gaming applications, all have an impact on the market. Furthermore, rapid urbanization, an increase in the consumption for the enhanced match viewing experience, and an increase in demand for specialized healthcare image-guided surgery all benefit the volumetric video market.

The integration of augmented reality (AR) in marketing aims to improve consumer relationships, increase sales, and add value to the customer experience. AR is a cutting-edge tool that enables marketing brands to engage with clients via their mobile devices. It creates a new digital experience that strengthens the bond between customers and marketing brands (online and offline). Based on SQ analysis we found that by 2021, 32% of customers will be regular AR users, and 73% of smartphone AR users will be extremely satisfied with the interactive visual experiences. These AR retail statistics demonstrate that advanced AR technology has been accepted by the global market.

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Global Volumetric Video Market Segmental Analysis

The Global Volumetric Video market is segmented based on volumetric capture, application, and region. the Volumetric Video market is segmented based on volumetric captures such as Hardware, Software, and Services. Based on the application, the Volumetric Video is segmented into Hardware, Software, and Services. Based on region the global Volumetric Video market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Application

During the forecast period, the volumetric video market for signage and advertisement applications has dominated the market and is expected to grow at the highest rate of CAGR. The demand for volumetric video is being driven by creative advertising because it is a spectacular technology that can be used at corporate events, product launches, and promotional events. The growth of digital signage will drive demand for better advertising content and, as a result, volumetric video demand in the coming years. Customer engagement is becoming increasingly important as competition heats up. Volumetric videos could benefit businesses by assisting in the development of new and unique content, increasing consumer appeal, and maximizing revenue.

Global Volumetric Video Market Competitive Landscape

Volumetric Video manufacturers continue to prioritize technological advancements in the product. Such developments, combined with competitive pricing, are likely to help them increase their market share during the forecast period. Companies are investing heavily in R&D to overcome the challenges associated with using Volumetric Video and to improve product quality. For instance, Microsoft creates services, software, and hardware devices that provide new opportunities, increased convenience, and increased societal value. Microsoft's products and services are divided into eight (8) categories: applications and infrastructure, data and artificial intelligence (AI), developer tools, powerful platforms, modern workplace, business applications, security, and gaming.

Microsoft's Mixed Reality Capture Studios record holographic video holograms to measure the quality and people. On VR, AR, and 2D screens, the viewer can communicate with the holograms. The company operates approximately 120 subsidiaries in North America, Europe, South America, the Middle East, and Asia.

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Top Player's Company Profiles

  • Microsoft Corporation (US)
  • Intel Corporation (US)
  • 4Dviews (France)
  • 8i (New Zealand)
  • Google LLC (US)
  • Unity Technologies (US)
  • IO Industries Inc (Canada)
  • Stereolabs Inc. (US)
  • Verizon Communications (US)
  • Canon Inc. (US)

Recent Development

  • In April 2022, Avatar Dimension announced the release of a portable, mobile version of its volumetric Microsoft Mixed Reality Capture Studio. It can now be moved and built-in other places.
  • In March 2022, ESPN used 3D volumetric video for the first time in a live full-game NBA match broadcast. The project is the result of a partnership between ESPN Edge, NBA, Disney Media & Entertainment Distribution Technology, and Canon. Canon's Free-Viewpoint Video system is used, with over 100 data capture cameras strategically placed around the basketball court.

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