Volumetric Video Market to Grow with a CAGR of 27.19% through 2028
Growing adoption of volumetric video in the gaming industry and rising demand for volumetric video for medical applications are likely to drive the market in the forecast period.
According to TechSci Research report, “Volumetric Video Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Volumetric Video Market stood at USD 2.08 billion in 2022 and is anticipated to grow with a CAGR of 27.19% in the forecast period. One of the key drivers propelling the global Volumetric Video market is the escalating demand for immersive content experiences. Consumers across various industries, including entertainment, gaming, education, and advertising, are seeking more engaging and interactive content. Volumetric Video technology meets this demand by enabling the creation of 3D holographic-like visuals that immerse viewers in a new dimension of storytelling. In the entertainment sector, filmmakers and content creators are leveraging Volumetric Video to craft narratives that go beyond traditional 2D or 3D formats. This technology also finds applications in virtual reality (VR) and augmented reality (AR) experiences, enhancing the realism and depth of digital content. As consumers increasingly crave immersive experiences, Volumetric Video stands out as a pivotal driver in satisfying this demand and revolutionizing the way we consume and interact with visual media.
Advancements in capture and playback technologies represent another crucial driver of the global Volumetric Video market. The development of more efficient and cost-effective capture systems has made it easier for content creators to produce high-quality volumetric video content. Depth-sensing cameras, multi-camera arrays, and improved software algorithms enable the seamless capture of dynamic 3D scenes. On the playback side, enhancements in graphics processing units (GPUs) and rendering software have facilitated the smooth and realistic rendering of volumetric video content on various devices, including smartphones, tablets, VR headsets, and more. This accessibility ensures that consumers can experience Volumetric Video content without significant hardware limitations. These advancements collectively reduce the barriers to entry for content creators and expand the potential audience for Volumetric Video, fostering its adoption and integration into a wide array of industries and applications. As capture and playback technologies continue to evolve, the global Volumetric Video market is poised for sustained growth and innovation.
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The Global volumetric video market is segmented into component, application, content delivery mode and region.
Based on component, The hardware segment had the largest market share in 2022 & expected to maintain in the forecast period. The hardware segment is dominating the global Volumetric Video market for several compelling reasons. Firstly, hardware is the foundational component of Volumetric Video technology. This segment encompasses the specialized equipment required for capturing, processing, and rendering three-dimensional (3D) video content. Depth-sensing cameras, multi-camera arrays, and powerful graphics processing units (GPUs) are integral to the creation of high-quality volumetric videos. As a result, hardware forms the essential infrastructure upon which the entire Volumetric Video ecosystem depends. Secondly, hardware innovations have been instrumental in advancing the capabilities and accessibility of Volumetric Video technology. Over the years, there have been significant improvements in the performance, efficiency, and affordability of capture and rendering equipment.
These advancements have lowered the entry barriers for content creators and businesses, making it more feasible to adopt and integrate Volumetric Video solutions into various industries. Moreover, the hardware segment addresses the critical demand for immersive and interactive experiences. As consumer expectations for more realistic and engaging content continue to grow, hardware plays a pivotal role in meeting these demands. Volumetric Video hardware enables the creation of lifelike 3D holographic content, which has found applications in entertainment, gaming, education, healthcare, and beyond. This heightened level of immersion is a driving force behind the hardware's dominance. Lastly, investments and research in Volumetric Video hardware have led to a competitive landscape where companies vie to deliver cutting-edge solutions. This competition fosters innovation and pushes the boundaries of what is possible with Volumetric Video technology
Based on application, The Signage and advertisement segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Volumetric Video technology offers advertisers a powerful tool to create eye-catching and attention-grabbing signage and advertisements. Unlike traditional static signage, Volumetric Video can display dynamic, three-dimensional content that captivates viewers and leaves a lasting impression. Volumetric Video can facilitate interactive advertising experiences. Passersby can engage with holographic content, whether it's virtually trying on clothing, exploring product features, or customizing options.
This interactivity can significantly increase consumer engagement and conversion rates. Signage and advertisements often rely on location-based targeting. Volumetric Video can enhance this strategy by delivering context-aware content. For example, a Volumetric Video sign in a shopping mall can adapt its advertising content based on the time of day, the weather, or the demographics of passersby. In a crowded advertising landscape, brands are constantly seeking ways to stand out. Volumetric Video signage can provide a unique and memorable branding experience.
Major companies
operating in the Global Volumetric Video Market are:
- Microsoft Corporation
- Intel Corporation
- Unity Software Inc.
- Alphabet Inc
- Sony Corporation
- Canon Inc.
- Stereolabs Inc.
- OTOY Inc.
- RealView Imaging Ltd.
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“The Global Volumetric Video market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The growth of the volumetric video market is driven by the increasing demand for 3D content in the entertainment, medical, and education sectors. Volumetric video is a type of video that captures a three-dimensional space, allowing users to interact with the content in a more immersive way. This is in contrast to traditional 2D video, which is limited to a flat viewing experience. The increasing popularity of virtual reality (VR) and augmented reality (AR) is also driving the growth of the volumetric video market. VR and AR headsets allow users to experience volumetric video in a more realistic way. This is leading to increased demand for volumetric video content for VR and AR applications. Therefore, the market of Volumetric Video is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Volumetric Video Market By Component (Hardware, Software, Services), By Application (Sports, Events, and Entertainment, Medical, Education and Training, Signage and Advertisement, Others) By Content Delivery Mode (Projectors, AR/VR Head-mounted Display (HMD), Smartphones, Volumetric Displays), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Volumetric Video Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Volumetric Video Market.
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