The Global Volumetric Video Market size is expected to reach $11.5 billion by 2030, rising at a market growth of 26.8% CAGR during the forecast period.
Sports, Events, & Entertainment sector is playing a major role in today’s world as both younger and older generations are playing games, and the gender split is getting close to parity. Consequently, Sports, Events, & Entertainment would generate approximately 2/5th share of the market by 2030. For example, in 2020, there were approximately 2.7 billion gamers globally, with the video game industry having a $159.3 billion market value. In the US, this expenditure increased by a record 31%. 2020 saw a 13.3% gain in mobile gaming revenue, bringing it to $77.2 billion. For the gaming and virtual reality sectors, volumetric video has enormous ramifications. This improves the gaming experience by allowing for dynamic and realistic representations of characters and objects. Some of the factors impacting the market are rising use of volumetric video in the entertainment industry, expanding uses of volumetric video in advanced image-guided surgery and medical imaging, and high cost of software and equipment maintenance.
Advanced volumetric video records people or things in three dimensions, creating an immersive and engaging watching experience. Since it is used in movies, video games, and live events, its adoption in entertainment has been rapid. The use of volumetric video in cinematography and filmmaking is strongly supported by well-known filmmakers such as Diego Prilusky, previously head of Intel Studios. Modern technology is used in advanced medical imaging to provide more detailed and accurate human body images than earlier imaging methods. Similarly, image-guided surgery uses real-time imaging to direct surgical processes better. By producing manipulable, 360-degree 3D representations of patients' body parts or organs, volumetric video offers the potential to transform each of these disciplines. As a result, the market gains numerous growth prospects.
However, modern technologies like volumetric video are applied in the education, entertainment, and healthcare industries. However, its limitations include expensive equipment, software, and upkeep. Software upkeep for volumetric video may amount to up to two-thirds of the software process cycle or more than half of the software development life cycle (SDLC) procedures. Hence, the high cost associated with the technology is hampering the market's growth as it limits the use of technology by financially restricted businesses.
By application, the market is divided into sports, events, & entertainment, medical, education & training, signage & advertisement, and others. The signage and advertisement segment garnered a remarkable growth rate in the market in 2022. Advertisers may easily add attractive, interactive images to a variety of signage and advertising channels with the help of volumetric video technology. Brands can now exhibit their goods and services in a more dynamic and engaging way with volumetric video, successfully capturing the interest of potential customers. Due to businesses realizing the huge opportunity of this technology to increase brand identification, customer engagement, and ultimately revenue, the demand for signs and advertising is seeing substantial growth.
Based on volumetric capture, the market is characterized into hardware, software, and service. The hardware segment garnered the highest revenue share in the market in 2022. Hardware such as high-resolution cameras, depth sensors (such as LiDAR), motion capture systems, and specialized rigs are necessary for capturing volumetric video content. These devices capture the geometry, appearance, and motion data required for the 3D reconstruction. This hardware is necessary for tasks such as depth map generation, 3D reconstruction, compression, and data optimization.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.8 Billion |
| Market size forecast in 2030 | USD 11.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 26.8% from 2023 to 2030 |
| Number of Pages | 171 |
| Number of Table | 279 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Volumetric Capture, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. The market is accelerating due to the sports TV broadcasters' increasing demand for fresh strategies for changing up live coverage in the region. A digital environment from that footage can be formed from any perspective and is created using volumetric video, which uses digitalized 3D spatial information produced by computer systems. Technology is gaining popularity in the entertainment sector and has created a lot of fascination in the region's athletic community. The demand in this region is increasing due to these variables, which are predicted to dominate the market during the anticipated year.
Free Valuable Insights: Global Volumetric Video Market size to reach USD 11.5 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Intel Corporation, Sony Corporation, Google LLC (Alphabet Inc.), Unity Software, Inc., Metastage, 4D VIEW SOLUTIONS SAS, Stereolabs, Inc., and IO Industries Inc.
By Application
By Volumetric Capture
By Geography
The Market size is projected to reach USD 11.5 billion by 2030.
Expanding uses of volumetric video in advanced image-guided surgery and medical imaging are driving the Market in coming years, however, High cost of software and equipment maintenance restraints the growth of the Market.
Microsoft Corporation, Intel Corporation, Sony Corporation, Google LLC (Alphabet Inc.), Unity Software, Inc., Metastage, 4D VIEW SOLUTIONS SAS, Stereolabs, Inc., and IO Industries Inc.
The expected CAGR of this Market is 26.8% from 2023 to 2030.
The Sports, Events, & Entertainment segment is leading the Global Volumetric Video Market by Application in 2022 thereby, achieving a market value of $3.8 billion by 2030.
The North America region dominated the Global Volumetric Video Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.2 billion by 2030.
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