Press release
Volumetric Video Market Growing at the Fastest Rate in APAC Region
According to the new market research report "Volumetric Video Market with COVID-19 Impact by Volumetric Capture (Hardware, Software, Services), Application (Sports, Events, and Entertainment, Medical, Advertisement, and Education), Content Delivery & Region - Global Forecast to 2026", the volumetric video market is estimated to grow from USD 1.5 billion in 2021 to reach USD 4.9 billion by 2026; it is expected to grow at a CAGR of 26.9% from 2021 to 2026. A few key factors driving the growth of this market are surging demand for enhanced match viewing experience, increasing demand for 3D/360° content in entertainment sector, proliferation of content delivery devices driving demand for 3D content, growing demand for AR in retail and e-commerce sectors due to COVID-19, and rising investments in AR/VR ecosystem.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=259585041
Software is expected to hold the second largest share of the market during the forecast period.
Software is expected to hold the second largest share of the market during the forecast period. Software are required for the capturing, modeling, composting, editing, compression, and playback of volumetric video. While capturing volumetric video, the StudioCap-VC software of IO Industries gives operators control of an entire group of Volucam cameras at once – eliminating as many per-camera tasks as possible – while providing intelligible feedback on the camera array’s status. EF EVE provides the Creator software, a volumetric video editing toolkit. The volumetric raw data gathered while recording volumetric video has point cloud noise, visual artifacts, and depth inaccuracies. Mod Tech Labs provides AI-enabled software, which performs automated 3D mesh generation from images.
Sports, events, and entertainment application is expected to hold the largest share of the market during the forecast period.
Sports, events, and entertainment application is expected to hold the largest share of the market during the forecast period. The increasing popularity of sports events and the growing demand for immersive match viewing experience are the key factors driving volumetric video solution providers to innovate and develop products in accordance with spectators’ preferences. The entertainment industry is rapidly adopting volumetric video technology, as it enables the industry to capture and transmit live HD and 3D VR content over the Internet, thereby delivering an immersive and life-like experience.
Volumetric video market in APAC to grow at highest CAGR during the forecast period.
The volumetric video market in APAC is projected to grow at the highest CAGR during the forecast period, driven by the growing number of professional creative studios and the increasing adoption of volumetric video in sports, events, and entertainment and signage & advertisement applications in the region. The increasing adoption of augmented reality technology in Japan, China, and South Korea also propels market growth in the region. APAC houses some of the major players in the ecosystem of the volumetric video market, such as Canon, Sony, Fujifilm, and Nikon, and multiple studios such as Jump Studio (South Korea), Docomo XR Studio (Japan), Korea Immersive Studio (South Korea), and Volumetric Video Studio – Kawasaki (Japan), among others.
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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), Sony Group Corporation (Japan), Scatter (US), Mark Roberts Motion Control (US), Capturing Reality (Slovakia), Dimension (UK), Evercoast (US), DGene (China), 3nfinite (US), Tetavi (Israel), Mantis Vision Ltd. (Israel), Arcturus Studios Holdings, Inc. (US), and EF EVE (UK) are few major players in the volumetric video market.
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