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Digital Human Market Size, Share, Rate of Growth And Global Forecast 2033
Digital Human Market Size
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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