Press release
Volumetric Video Market 2024 Trends, Surging Demand, Detailed Analysis, And Forecast To 2033
Volumetric Video Market Size
Volumetric Video Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.09 billion In 2028 At A CAGR Of 29.5% :
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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Volumetric Video Market Major Segments
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
Key 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.
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Prominent Trend - Technological Advancements Redefining The Volumetric Video Market
Technological advancement is a key trend gaining popularity in the volumetric video market. New technologies enable transparency in delivery and networked logistics paths. For instance, in February 2022, Wild Capture, a US-based volumetric technology platform and creative services studio, launched the Digital Human Platform to develop XR technologies and offer turnkey production services for the creation of digital humans, volumetric crowds, and CG fashion for media production, software and web-based deliveries, and volumetric video.
Volumetric Video Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the volumetric video market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the volumetric video market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Volumetric Video Market Report Structure
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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