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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 due to the rising demand for enhanced match-viewing experiences in various industries. AR technology is increasingly being adopted in the retail and e-commerce sectors to provide customers with immersive shopping experiences. Brands are using AR to enable virtual try-ons, product visualization, and interactive shopping, creating a more engaging and personalized shopping journey. Furthermore, investments in AR and virtual reality (VR) ecosystems have surged, with major tech companies and venture capitalists pouring funds into AR startups and research. This trend is expected to continue as AR technology becomes more accessible and affordable, offering endless possibilities for innovation and transformation across multiple industries.
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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 immersive and lifelike virtual meetings. In advanced medical imaging and image-guided surgery, 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. 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. 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.
Rising demand for enhanced match-viewing experience is notably driving market growth. 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 immersive 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. The integration of artificial intelligence, 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. Thus, such factors are driving the growth of the market during the forecast period.
Rising demand for 360 degree video content in entertainment sector is the key trend in the market. The volumetric video market is witnessing significant growth due to the increasing demand for immersive 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. 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 immersive 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 immersive experiences for live events and concerts. Overall, the volumetric video market is expected to grow significantly during the forecast period, driven by the increasing demand for immersive 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. Thus, such trends will shape the growth of the market during the forecast period.
High cost of production of volumetric videos is the major challenge that affects the growth of the market. Volumetric video technology, which involves capturing three-dimensional images and converting them into immersive 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. Volumetric video technology finds applications in various industries, including shopping malls, airports, and digital billboards, where there is a high demand for immersive content.
Moreover, 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. Additionally, the technology has applications in medical professionals' fields, where it can be used for training and simulation purposes. The volumetric video 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 volumetric video market offers immense potential for innovation and creativity, making it an exciting area for future developments. Hence, the above factors will impede the growth of the market during the forecast period
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
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 also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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.
The hardware segment is estimated to witness significant growth during the forecast period. The volumetric video 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 immersive experience by allowing participants to appear as lifelike holograms. Advanced medical imaging and image-guided surgery are other areas where volumetric video is making a mark.
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The hardware segment was the largest and was valued at USD 405.20 million in 2018. 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 volumetric video market is expected to grow significantly in the coming years as more industries discover its potential.
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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. The volumetric video 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 surgery 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.
In addition, hardware manufacturers are integrating volumetric video technology into consumer electronics, defense, military, and signage applications. 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 immersive experiences, while education and training benefit from its ability to provide interactive and engaging content.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Volumetric video 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 surgery 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 volumetric video market's growth. The entertainment industry, particularly films, gaming, and live events, is a significant market for volumetric video.
For instance, 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 market looks promising, with continuous advancements in technology and increasing adoption across various sectors.
Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 55.91% |
Market growth 2024-2028 |
USD 12.32 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
37.62 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, UK, India, Canada, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
4D VIEW SOLUTIONS SAS, 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, and VOLUMETRIC CAMERA SYSTEMS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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