Volumetric Video Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, India, Canada, Italy - Size and Forecast 2024-2028

Volumetric Video Market Size 2024-2028 

The volumetric video market size is forecast to increase by USD 12.32 billion at a CAGR of 55.91% between 2023 and 2028. The market is experiencing significant growth, driven by the rising demand for enhanced match-viewing experiences in the sports and entertainment industries. This demand is fueled by the increasing popularity of enriching 360-degree video content, which provides viewers with a more engaging and interactive experience. However, the high cost of production for volumetric video streaming is a major challenge for market growth. This involves the use of specialized equipment and technologies, such as depth cameras and motion capture systems, which can be expensive to acquire and operate. Despite this, the market is expected to continue expanding as the technology becomes more accessible and affordable, with potential applications in various sectors, including education, healthcare, and real estate.

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The market is poised for significant growth due to its application in various industries, including teleconferencing, telemedicine, and entertainment. The market's expansion is driven by the integration of 5G technology, which offers low latency and high bandwidth speed, enabling real-time volumetric video content transmission. In teleconferencing, volumetric video technology allows for more enriching and lifelike virtual meetings. In advanced medical imaging and image-guided, volumetric video provides three-dimensional visualization, enhancing the accuracy and effectiveness of procedures. Complex software solutions and startups are developing volumetric capture hardware, such as camera units and processing units, along with photogrammetry software for creating volumetric content.

Furthermore, the entertainment industry, particularly films and gaming, is embracing volumetric video technology for creating four-dimensional experiences. Volumetric video content is also used in signage and advertisement, offering a new dimension to marketing strategies. Creative talent is essential for producing captivating and engaging volumetric videos, which can be projected using sunlight, virtual reality, augmented reality, light fields, holographic displays, and spatial audio technologies. Motion sensing techniques and haptic feedback technology, such as Ultrahaptics, further enhance the user experience. Live events and holographic displays are other potential applications for volumetric video technology.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Hardware
  • Software
  • Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • UK
    • Italy
  • APAC
    • India
  • South America
  • Middle East and Africa

By Type Insights

The hardware segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to its applications in various sectors, including teleconferencing, healthcare, entertainment, and education. With the advent of 5G technology, volumetric video content can be transmitted with low latency and high bandwidth speed, enabling real-time communication and collaboration. In teleconferencing, volumetric video technology offers a more enriching experience by allowing participants to appear as lifelike holograms. Advanced medical imaging and image-guided are other areas where volumetric video is making a mark. Complex software solutions are being developed by startups and system integrators to create and deliver volumetric video content. The entertainment industry, including films, gaming, and live events, is also embracing volumetric video technology for creating innovative experiences.

In addition, hardware manufacturers and content creators are collaborating to develop the necessary infrastructure for volumetric video production and delivery. Cloud services, streaming, and sharing are becoming essential components of the volumetric video ecosystem. Other applications include sports, events and entertainment, consumer electronics, defense, military, education and training, signage, advertisement, and image processing tasks such as detection and resizing. The market is expected to grow significantly in the coming years as more industries discover its potential.

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The hardware segment accounted for USD 405.20 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is experiencing significant growth due to its applications in various sectors, including teleconferencing, healthcare, entertainment, and education. With the advent of 5G technology, volumetric video content can be transmitted with low latency and high bandwidth speed, making real-time communication more effective. In teleconferencing, volumetric video enables lifelike, three-dimensional interactions, enhancing collaboration and engagement. Advanced medical imaging and image-guided benefit from volumetric video's ability to capture and analyze complex data in 3D. Startups and content creators are developing innovative volumetric video solutions for the entertainment industry, revolutionizing films, gaming, and live events. Hardware manufacturers are integrating volumetric video technology into consumer electronics, defense, military, and signage applications.

Moreover, progressive medical imaging, detection, resizing, and video production industries also utilize volumetric video for content delivery, streaming, sharing, and cloud services. System integrators play a crucial role in implementing these complex software solutions. Sports, events, and entertainment industries leverage volumetric video for creating enriching experiences, while education and training benefit from its ability to provide interactive and engaging content.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Rising demand for enhanced match-viewing experience is the key driver of the market. Volumetric videos, which create three-dimensional, interactive experiences, are gaining traction in sectors like media, sports, and entertainment. Tech companies, including Arcturus Studios Holdings, Canon Inc., and Sony Group Corp., are spearheading the market by focusing on niche applications to differentiate themselves. The increasing appeal of live events and the desire for more enriching content experiences are driving innovation in this area. For instance, ESPN, a leading entertainment and sports programming network, introduced volumetric video technology in March 2022 to enhance the match viewing experience for its audience. This technology, which includes specialized cameras, software, and processing units, employs photogrammetry software, motion sensing techniques, and infrared sensors to capture and render 3D content.

In addition, the integration of artificial intelligence, the Internet of Things, and spatial audio technologies, such as light fields, holographic displays, and haptic feedback technology, further enhances the user experience. Applications of volumetric video extend beyond media and entertainment, with potential use cases in healthcare, retail, and transportation industries, such as shopping malls, airports, digital billboards, and signage and advertisement.

Market Trends

Rising demand for 360 degree video content in entertainment sector is the upcoming trend in the market. The market is witnessing significant growth due to the increasing demand for enriching content in various industries, including shopping malls, airports, and signage and advertisement. This technology, which involves the use of specialized cameras, processing units, and photogrammetry software, enables the creation of 3D content that can be viewed from any angle. This is particularly appealing for applications such as digital billboards, virtual and augmented reality, and holographic displays. Creative talent is essential in this field, as motion sensing techniques and in-depth sensors are used to capture the data required for volumetric video production. The integration of artificial intelligence and the Internet of Things is also driving innovation in this area, with applications ranging from medical professionals using volumetric video for training and simulation to motion picture studios producing four-dimensional, haptic feedback technology experiences.

Furthermore, the demand for volumetric video is being fueled by the need to provide a more engaging and interactive viewing experience. For instance, sunlight projection and spatial audio technologies are being used to create more enriching experiences for audiences. In the entertainment industry, volumetric capture hardware is being used to produce volumetric video content for virtual and augmented reality applications, as well as for creating enriching experiences for live events and concerts. Overall, the market is expected to grow significantly during the forecast period, driven by the increasing demand for enriching content across various industries. The use of specialized cameras, processing units, and software, along with motion sensing techniques and artificial intelligence, is enabling the creation of more engaging and interactive experiences for audiences. Applications in entertainment, advertising, medical training, and other fields are expected to drive the growth of the market.

Market Challenge

High cost of production of volumetric videos is a key challenge affecting the market growth. Volumetric video technology, which involves capturing three-dimensional images and converting them into enriching content, necessitates a significant initial investment due to the use of specialized cameras, software, and processing units. These components are essential for creating high-quality volumetric videos, particularly for lengthy recordings and high-action scenes in movies or sports. Professional recording studios, such as Canon Volumetric Studio Kawasaki and Microsoft Mixed Reality Capture Studios, employ advanced volumetric capture hardware consisting of numerous cameras to capture subjects from all angles and transform the footage into holograms. The technology's expense is attributed to the high cost of these cameras, processing units, and photogrammetry software.

In addition, volumetric video technology finds applications in various industries, including shopping malls, airports, and digital billboards, where there is a high demand for enriching content. Additionally, the technology has applications in medical professionals' fields, where it can be used for training and simulation purposes. The market is experiencing growth due to the increasing popularity of motion sensing techniques, in-depth sensors, artificial intelligence, and the Internet of Things. Four-dimensional videos and haptic feedback technology, such as ultrahaptics, further enhance the viewer's experience. Overall, the market offers immense potential for innovation and creativity, making it an exciting area for future developments.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

4D VIEW SOLUTIONS SAS - The company offers volumetric video capture systems named HOLOSYS.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 8i
• Arcturus Studios Holdings Inc.
• Canon Inc.
• EF London Ltd.
• Evercoast
• Hammerhead Interactive Ltd.
• HoloCap AS
• Imverse SA
• Magic Leap Inc.
• Mantis Vision Ltd.
• Microsoft Corp.
• Sony Group Corp.
• StoryFile Inc.
• Tetavi Ltd.
• Volograms Ltd.
• Volucap GmbH
• VOLUMETRIC CAMERA SYSTEMS

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market refers to the technology that captures three-dimensional space and converts it into digital data, enabling the creation of lifelike 3D videos. Teleconferencing is one of the primary applications of volumetric video technology, facilitated by 5G technology's low latency and high bandwidth speed. Volumetric video content finds extensive use in advanced medical imaging for image-guided and progressive medical imaging. Complex software solutions are integral to the creation and delivery of volumetric video content. Startups and established players, including hardware manufacturers, content creators, system integrators, and cloud service providers, are driving the market's growth. The entertainment industry, particularly films, gaming, and live events, is a significant market for volumetric video.

Furthermore, Holo Light, a leading player in the field, is revolutionizing entertainment with its holographic technology. Volumetric video technology is also transforming industries like healthcare, education and training, defense, military, sports, events and entertainment, consumer electronics, signage, advertisement, and more. SDLC processes, image processing tasks such as detection, resizing, and video production, are all benefiting from volumetric video technology. Cloud servers and streaming services are crucial for content delivery and sharing. The future of the market looks promising, with continuous advancements in technology and increasing adoption across various sectors.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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