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Digital Human Global Market Analysis, Trends, Growth, Research And Forecast 2033
Digital Human Global Market
Digital Human 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 $166.46 billion In 2028 At A CAGR Of 48.8% :
The digital human market size has grown exponentially in recent years. It will grow from $22.87 billion in 2023 to $33.96 billion in 2024 at a compound annual growth rate (CAGR) of 48.5%. The growth in the historic period can be attributed to advancements in AI and machine learning, improvements in graphics and animation, growth of virtual reality (VR) and augmented reality (AR), demand for personalized user experiences, and cost reduction and scalability.
The digital human market size is expected to see exponential growth in the next few years. It will grow to $166.46 billion in 2028 at a compound annual growth rate (CAGR) of 48.8%. The growth in the forecast period can be attributed to expansion of virtual commerce, integration with Internet of Things (IoT) devices, ethical and regulatory considerations, and the emergence of metaverse platforms. Major trends in the forecast period include hyper-personalization, multi-modal interaction, collaborative and co-creative capabilities, diverse representation and inclusivity, and continuous learning and adaptation.
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Digital Human Market Major Segments
The digital human market covered in this report is segmented -
1) By Product Type: Interactive Digital Human Avatar, Non-Interactive Digital Human Avatar
2) By Technology: 3D Scanning, 3D Modelling, Natural Language Processing, Natural Language Generation, Artificial Intelligence (AI)
3) By Application: Virtual Agents, Virtual Assistants, Virtual Influencers, Virtual Companions, Virtual Characters
4) By Industry: Gaming, Entertainment, Banking, financial services and insurance (BFSI), Information Technology (IT) And Telecommunication, Education, Automotive, Advertisement, Health And Sports, Other Industries
Key Driver - Robotics In Industrial Applications Driving Expansion Of The Digital Human Market
The rise in the use of robots in industrial applications is expected to propel the growth of the digital human market going forward. Robots in industrial applications refer to automated machines designed to perform tasks traditionally carried out by humans in manufacturing and other industrial settings. Robotics use in industrial applications is significantly increasing due to Industry 4.0 and automation trends, performance improvement, safety enhancement, cost reduction, and application expansion. Digital humans complement robots in industrial applications by improving communication, training, interface design, data visualization, and customer interaction. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022 to reach 41,624 units. The automotive industry, mainly consisting of US, Canadian, and Mexican businesses, was the top adopter with 20,391 installed units, a 30% rise from 2021. Therefore, the rise in the use of robots in industrial applications is driving the growth of the digital human market.
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Prominent Trend - Innovative AI-Powered Technology In The Digital Human Market
Major companies operating in the digital human market are developing innovative technologies, such as digital human SDK (software development kit) with AI-powered technology, to serve customers with advanced features better. The digital human SDK is a software development kit designed to reduce time-to-value and alleviate challenges for development teams. It empowers brands to forge deeper connections with their customers, enhancing web conversion rates, improving customer experience, and fostering brand loyalty. For instance, in July 2023, UneeQ Digital Humans, a New Zealand-based software company, announced the launch of its first digital human SDK. The new SDK allows enterprises to quickly deploy AI-powered digital human experiences into digital environments, including augmented and virtual reality applications such as Apple's Vision Pro. This technology enables brands to integrate AI-powered digital humans into their AR or VR applications, bringing life into their virtual worlds and providing a more immersive and interactive customer experience.
Digital Human Market Players
Major companies operating in the digital human market report are Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc.; Tencent Holdings Limited; Nvidia Corporation; Netease Inc.; iFLYTEK Corporation; Epic Games Inc.; Digital Domain; Inworld AI; Didimo Inc.; Genies; Xsens Technologies B.V.; Reallusion Inc.; HOUR ONE AI; Soul Machines; Synthesia Ltd.; DeepBrain AI; Daz Production Inc.; Wolf3D; Offbeat Media Group; UneeQ; DeepMotion; Ziva Dynamics; Virtually Human Studio
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Largest And Fastest Growing Region In The Market
North America was the largest region in the digital human market in 2023. Asia Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the digital human 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. Digital Human Market Report Structure
3. Digital Human Market Trends And Strategies
4. Digital Human Market - Macro Economic Scenario
5. Digital Human Market Size And Growth
…..
27. Digital Human Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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