Volumetric Video Market by Volumetric Capture (Hardware, Software, Service), Content Delivery, Application (Sports, Events & Entertainment, Medical, Education & Training, Signage & Advertisement) and Region - Global Forecast to 2028
The global volumetric video market is expected to be valued at USD 2.2 billion in 2023 and is projected to reach USD 7.6 billion by 2028; it is expected to grow at a CAGR of 28.6% from 2023 to 2028. Volumetric capture technology enables the creation of images from virtual viewpoints without an actual camera, using 3D models generated from the captured footage. This process involves calibrating multiple cameras, developing 3D models of subjects, texture mapping to 3D models, and generating camerawork. Microsoft's Mixed Reality Capture Studio is one of the most prominent players in volumetric capture technology. It uses many cameras filming from different angles, and computer algorithms stitch the views together to create volumetric images.
“Hardware to account for the largest volumetric capture segment for volumetric video market”
The growth of this market is primarily influenced by two key factors: the rising presence of top-tier companies providing camera and volumetric capture solutions and the growing adoption of volumetric cameras in diverse domains such as sports, events, entertainment, and medical applications. These cameras offer users superior picture quality and 3D videos. Several renowned companies, including Microsoft, Intel, IO Industries Inc., and Raytrix, have introduced a range of cameras leveraging 6DOF volumetric capture and depth-sensing technology, driving the expansion of the volumetric video market. Intel, for instance, has unveiled RealSense 3D cameras (D415 and D435) suitable for both professional and consumer applications. Raytrix, on the other hand, offers light-field cameras designed explicitly for volumetric capture.
“Sports, events & entertainment application to capture highest market share for the volumetric video market.”
Volumetric video is gaining increasing significance in sports, events, and entertainment due to its ability to offer users an exceptional and immersive experience. As partnerships and agreements emerge, we can anticipate even more groundbreaking applications of volumetric video. In the entertainment industry, volumetric video is employed to craft unparalleled experiences for audiences. An outstanding illustration of this can be seen in the VOID, a virtual reality entertainment center that utilizes volumetric video to construct immersive encounters for its visitors. The VOID has formed partnerships with renowned franchises such as Star Wars and Ghostbusters, enabling fans to engage in interactive experiences that transport them into the very fabric of the storyline.
“China to grow at the highest CAGR for Asia Pacific volumetric video market.”
China is emerging as a prominent and rapidly expanding market for volumetric video technology. The country has recently witnessed substantial investments and partnerships in this sector. The increasing demand for volumetric content from video content and gaming companies is projected to be a key driver for the growth of the volumetric video market in China. QGene, a leading provider of volumetric capture services, boasts four volumetric capture stages within the country. With an anticipated AR/VR market size of $62 billion by 2023 (according to Statista), China is the world's largest market for virtual reality. It accounted for 40% of global VR headset shipments in Q1 2021, as reported by Qmdia.
The study contains various industry experts’ insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier 1 – 15%, Tier 2 – 50%, and Tier 3 – 35%
By Designation: C-level Executives – 45%, Directors – 35%, and Others – 20%
By Region: North America – 45%, Europe – 35%, Asia Pacific – 12%, South America – 3%, Middle East & Africa – 5%
The key players operating in the volumetric video market are Microsoft Corporation(US), Intel Corporation (US), Unity Technologies (US), Alphabet Inc. (US), and Sony Corporation (Japan).
This research report categorizes the volumetric video market by volumetric capture (Hardware, Software, Service), by application (Sports, Events & Entertainment, Medical, Education & Training, Signage & Advertisement, Others), and by region (North America, Europe, Asia Pacific, and RoW). The report’s scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the volumetric video market. A detailed analysis of the key industry players has provided insights into their business overview, solutions, services; key strategies; Contracts, partnerships, and agreements. New product & service launches, mergers and acquisitions, and recent developments associated with the volumetric video market. This report covers the competitive analysis of upcoming startups in the volumetric video market ecosystem.
Key Benefits of Buying the Report
Analysis of critical drivers (Increasing demand for virtual reality (VR) and augmented reality (AR) applications, Increasing use of volumetric video in the entertainment industry, Advancements in camera and display technologies, and Rising investments in the AR/VR ecosystem), restraints (High maintenance, High cost of equipment and software, Lack of standardization and Limited content, and Less effective projection under sunlight), opportunities (Growing use of volumetric video in e-commerce, Increasing use of volumetric video in education and training, Growing applications of volumetric video for advanced medical imaging and image-guided surgery), and challenges (Lack of standardization for 3D content creation, and Regulatory and ethical concerns) influencing the growth of the volumetric video market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the volumetric video market
Market Development: Comprehensive information about lucrative markets – the report analyses the volumetric video market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the volumetric video market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Microsoft Corporation(US), Intel Corporation (US), Unity Technologies (US), Alphabet Inc. (US), and Sony Corporation (Japan) among others in the volumetric video market.