PUBLISHER: The Business Research Company | PRODUCT CODE: 1499830
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499830
A digital human is a software-based depiction of a human being, often integrating artificial intelligence and advanced 3D modeling techniques to mimic human-like behavior, facial expressions, and movements. These entities are crafted using cutting-edge technologies like computer graphics, machine learning, and natural language understanding to replicate human-like communication and engagement. Digital humans find utility across various applications, enhancing user experiences, providing personalized interactions, and streamlining processes.
The primary product types in the digital human market include interactive digital human avatars and non-interactive digital human avatars. Interactive digital human avatars represent virtual human entities capable of real-time communication and interaction with users. Various technologies involved encompass 3D scanning, 3D modeling, natural language processing, natural language generation, and artificial intelligence (AI). These avatars find application across diverse sectors such as virtual agents, virtual assistants, virtual influencers, virtual companions, and virtual characters, and are utilized across industries including gaming, entertainment, banking, financial services and insurance (BFSI), information technology (IT) and telecommunications, education, automotive, advertising, health and sports, among others.
The digital human market research report is one of a series of new reports from The Business Research Company that provides digital human market statistics, including the digital human industry global market size, regional shares, competitors with a digital human market share, detailed digital human market segments, market trends and opportunities, and any further data you may need to thrive in the digital human industry. This digital human market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The digital human market size has grown exponentially in recent years. It will grow from $22.87 billion in 2023 to $33.96 billion in 2024 at a compound annual growth rate (CAGR) of 48.5%. The growth observed in the historic period can be attributed to advancements in AI and machine learning technologies, enhancements in graphics and animation capabilities, the expansion of virtual reality (VR) and augmented reality (AR) platforms, the increasing demand for personalized user experiences, and improvements in cost reduction and scalability measures.
The digital human market size is expected to see exponential growth in the next few years. It will grow to $166.46 billion in 2028 at a compound annual growth rate (CAGR) of 48.8%. The projected growth in the forecast period can be attributed to factors such as the expansion of virtual commerce, integration with Internet of Things (IoT) devices, ethical and regulatory considerations, and the emergence of metaverse platforms. Significant trends expected in the forecast period include hyper-personalization, multi-modal interaction, collaborative and co-creative capabilities, diverse representation and inclusivity, and continuous learning and adaptation.
The growth of the digital human market is expected to be propelled by the increasing utilization of robots in industrial applications. Robots deployed in industrial settings are automated machines designed to perform tasks traditionally carried out by humans, particularly in manufacturing and other industrial environments. The escalating adoption of robotics in industrial applications can be attributed to the emergence of Industry 4.0 and automation trends, aimed at enhancing performance, safety, and cost efficiency, as well as expanding the range of applications. Digital humans complement these robots by improving communication, training, interface design, data visualization, and customer interaction. For example, data from the International Federation of Robotics in May 2023 revealed a 12% increase in industrial robot installations in manufacturing in 2022, reaching 41,624 units. Notably, the automotive industry, comprising primarily US, Canadian, and Mexican businesses, led with 20,391 installed units, marking a 30% rise from 2021. Consequently, the surge in robot utilization in industrial settings is fueling the expansion of the digital human market.
Key players in the digital human market are focusing on developing innovative technologies, such as digital human SDKs (software development kits) powered by AI, to enhance customer engagement with advanced features. The digital human SDK streamlines development processes and addresses challenges faced by development teams, enabling brands to establish deeper connections with customers, enhance web conversion rates, improve customer experiences, and foster brand loyalty. For instance, in July 2023, UneeQ Digital Humans, a software company based in New Zealand, unveiled its inaugural digital human SDK. This SDK empowers enterprises to swiftly deploy AI-powered digital human experiences into digital environments, including augmented and virtual reality applications like Apple's Vision Pro. By integrating AI-powered digital humans into AR or VR applications, brands can enliven their virtual worlds and deliver more immersive and interactive customer experiences.
In November 2022, Charisma.ai, a UK-based AI solutions provider, partnered with UneeQ to leverage Charisma.ai's interactive storytelling technology as a research tool and commercialization platform. UneeQ, headquartered in New Zealand, specializes in digital human technology.
Major companies operating in the digital human market are Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Tencent Holdings Limited, Nvidia Corporation, Netease Inc., iFLYTEK Corporation, Epic Games Inc., Digital Domain, Inworld AI, Didimo Inc., Genies, Xsens Technologies B.V., Reallusion Inc., HOUR ONE AI, Soul Machines, Synthesia Ltd., DeepBrain AI, Daz Production Inc., Wolf3D, Offbeat Media Group, UneeQ, DeepMotion, Ziva Dynamics, Virtually Human Studio
North America was the largest region in the digital human market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital human market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the digital human market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital human market consists of revenues earned by providing services such as consulting services, advisory services, and support and maintenance services. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital human market also includes sales of AI components, audio components, camera components, light components, movement components, and navigation components. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Digital Human Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on digital human market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for digital human? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The digital human market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.