Press release
Digital Human Market Size Projected To Reach $247.43 Billion By 2034 With A Cagr Of 48.7%
Digital Human
What Is the Projected Growth of the Digital Human Market?
The market size of the digital human sector has seen massive expansion in the past few years. Projected to surge from a value of $33.96 billion in 2024 to $50.56 billion in 2025, it's poised to achieve a compound annual growth rate (CAGR) of 48.9%. Factors behind the phenomenal growth during the historic period include technological advancements in AI and machine learning, enhancements in graphics and animation, the rising popularity of virtual reality (VR) and augmented reality (AR), an increasing demand for customized user experiences, and declines in costs coupled with improved scalability.
The market size of the digital human sector is anticipated to experience substantial growth in the upcoming years, with an estimated value of $247.43 billion in 2029 and a compound annual growth rate (CAGR) of 48.7%. The projected growth in the forecast period could be linked to factors such as the expansion of virtual commerce, integration with Internet of Things (IoT) devices, ethical and regulatory considerations, and the rise of metaverse platforms. Key trends for the forecast period encompass hyper-personalization, multi-modal interaction, collaborative and co-creative abilities, a variety of representation and inclusivity, and ongoing learning and adaptation.
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What Are the Different Digital Human Market 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
Subsegments:
1) By Interactive Digital Human Avatar: AI-Powered Avatars, Virtual Assistants, Customer Service Avatars, Training And Simulation Avatars
2) By Non-Interactive Digital Human Avatar: Pre-Rendered Avatars, Animation-Only Avatars, Promotional And Advertising Avatars
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What Are the Primary Drivers Shaping the Digital Human Market?
The digital human market's expansion is predicted to be driven by the growing utilization of robots in industrial applications. Industrial robots are automated machines designed to carry out tasks usually done by humans, particularly in the manufacturing sector and other industrial surroundings. The implementation of robotics in these settings is on the rise, owing to the trends of Industry 4.0 and automation, enhancements in performance and safety, cost cutting, and expansion of application. Digital humans boost industrial robots by advancing communication, training, interface designing, visualization of data, and interaction with customers. For instance, in May 2023, data from the non-profit organization, the International Federation of Robotics based in Germany, highlighted that there was a 12% surge overall in 2022, reaching 41,624 units in industrial robot installations in the manufacturing sector. The automotive industry, predominantly composed of businesses in the US, Canada, and Mexico, led the way with 20,391 installed units, marking a 30% increase from the previous year 2021. Hence, the escalating usage of robots in industrial applications is evidently promoting the growth of the digital human market.
Which Companies Are Leading in the Digital Human Market?
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
What Are the Major Trends Shaping the Digital Human Market?
Leading businesses active in the digital human marketplace are pioneering new technologies, like digital human SDK (software development kit) filled with AI capabilities, to offer enhanced attributes to their consumers. The digital human SDK is a development kit meant to lessen value-delivery time and mitigate issues for development crews. It provides brands the means to cultivate deeper relationships with their customers, boosting online conversion statistics, enhancing client encounters, and nurturing brand loyalty. For instance, UneeQ Digital Humans, a software firm from New Zealand, rolled out their initial digital human SDK in July 2023. This latest SDK lets companies swiftly incorporate AI-fueled digital human experiences into digital domains, encompassing augmented and virtual reality applications like Apple's Vision Pro. This technology lets brands infuse their AR or VR applications with AI-driven digital humans, breathing life to their virtual domains and offering a heightened, interactive customer experience.
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What Are the Top Revenue-Generating Geographies in the Digital Human Market?
North America was the largest region in the digital human market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Human Market?
2. What is the CAGR expected in the Digital Human Market?
3. What Are the Key Innovations Transforming the Digital Human Industry?
4. Which Region Is Leading the Digital Human Market?
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