Press release
Volumetric Video Market 2024 - Gauging Size, Sharing, Tracing Trends, Analyzing Growth, and Providing Outlook Through 2033
Volumetric Video Market
The Business Research Company offers in-depth market insights through Volumetric Video Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The volumetric video market size has grown exponentially in recent years. It will grow from $2.25 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to increased consumer demand for immersive content, media and entertainment industry investments, live events and sports broadcasting, gaming industry integration, educational and training applications.
The volumetric video market size is expected to see exponential growth in the next few years. It will grow to $8.09 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to expansion in healthcare applications, cinematic experiences in theme parks, enhanced content creation tools, global expansion of volumetric video studios, accessibility and standardization efforts. Major trends in the forecast period include advancements in capture technology, virtual conferencing and events, cloud-based volumetric video services, real-time volumetric video streaming, collaborations and partnerships.
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Market Segmentation:
The volumetric video market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Content Delivery: Projectors, AR/VR Head-Mounted Display (HMD), Smartphones, Volumetric Displays
3) By Application: Sports And Entertainment, Medical, Signage And Advertisement, Education And Training
Major Driver - The Surge In Augmented Reality Use Driving Growth Of The Volumetric Video Market
The upsurge in the usage of augmented reality is expected to propel the growth of the volumetric video market. Volumetric video capture technology is an approach that digitizes a three-dimensional space, such as an object, volume of space, or environment in real-time using a collection of cameras set around a target. Augmented reality is successful in delivering cultural heritage applications, including exhibition data management, architectural and environmental heritage reconstruction, representation, exhibition curation, and storytelling. For instance, according to a report by Hong Kong-based Counterpoint Research, the shipments of Virtual Reality (VR) and Augmented Reality (AR) headsets are expected to grow about 10 times to 105 million units in 2025, from 11 million units in 2021. Hence, the increasing adoption and utilization of AR devices is expected to boost the market in the forecast period.
Competitive Landscape:
Major companies operating in the volumetric video market report are Alphabet Inc., Microsoft Corporation, Verizon Communications, Meta Platforms Inc., Sony Group Corporation, Intel Corporation, Canon Inc, Adobe Inc., Dimension, Autodesk Inc., 8I Ltd., DGene, 3nfinite, Unity Technologies, Avid Technology Inc., Blackmagic Design Pty Ltd., Mark Roberts Motion Control, IO Industries Inc., Brainstorm Multimedia, Arcturus Studios, Stereolabs Inc., LightSpace Technologies Ltd., Holoxica Ltd., Evercoast, Boris FX, Light Field Lab, Scatter, 4D View Solutions SAS, OTOY Inc., Disguise, Foundry, HapYak, Holo-Light, Imagineer Systems Ltd., Looking Glass Factory Inc., Magic Leap Inc., Maxon Computer GmbH, NewTek Inc., Nreal, Pixotope Technologies, RealView Imaging, SideFX, The Foundry Visionmongers, Varjo Technologies Oy, Ventuz Technology AG, VividQ Limited, Vizrt, Volograms, Voxon Photonics, Zero Density
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Top Trend - Strategic Partnerships In The Volumetric Video Industry Advancing Accessibility And Immersive Experiences
Major companies operating in the volumetric video industry are adopting a strategic partnership approach to enhance innovation and expand market reach. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in July 2021, IBM, a US-based technology company, partnered with Canon Inc., a Japan-based provider of consumer, business-to-business, and industrial digital imaging solutions. With this partnership, they aim to make high-quality digital video content creation more accessible with the use of volumetric video technology in entertainment and the arts through a joint go-to-market effort. Volumetric video technology leverages cameras and advanced data processing to render 3D images from a virtual space, which allows for video points of view to be generated from any angle within that space to create a more immersive experience for viewers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Volumetric Video Market Characteristics
3. Volumetric Video Market Trends And Strategies
4. Volumetric Video Market - Macro Economic Scenario
5. Volumetric Video Market Size And Growth
…..
27. Volumetric Video Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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