Global Volumetric Video Market Size By Volumetric Capture (Hardware, Processing Unit), By Application (Signage & Advertisement, Education & Training, Medical), By Geographic Scope And Forecast

Volumetric Video Market Size And Forecast

Volumetric Video Market size is valued at USD 1.2 Billion in 2021 and is projected to reach USD 12 Billion by 2030 , growing at a CAGR of 26% from 2022 to 2030. Increasing demand for 3D/360° content in the entertainment sector, surging demand for the enhanced match viewing experience, the proliferation of content delivery devices driving demand for 3D content, growing demand for AR in the e-commerce and retail sectors due to COVID-19, and rising investments in the AR/VR ecosystem are a few key factors driving the growth of Volumetric Video Market. The Global Volumetric Video Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Volumetric Video Market Definition

A video technology known as volumetric video allows for the capturing of 3D or 2D images of a person, object, or location. Multiple cameras can simultaneously take pictures of the same object, producing dynamic 3D representations. The data needed to create 3D models is gathered from many perspectives all around a person or item, combined, and then transformed into a dependable, realistic, and dynamic 3D representation. The motion detection approach, which can analyze 2D or 3D object images in depth and scan them directly through 360-degree cameras, is used in volumetric video.

Global Volumetric Video Market Overview

With the growth of AR technology in online sales and marketing, the demand for video volume has increased due to the use of 3D hologram to purchase the product online. Video content is proven to increase traffic to e-commerce or online store websites and help customers purchase the right products. In April 2021, Arcturus and ANAYI, a Japanese cloth manufacturer highlighted their new collection for spring and summer 2021 by releasing 19 original videos. With this, customers can select a video on their desktop using any browser and watch a moving model at any angle, including close-ups to see how the fabric will pull and move with the person who installed it.

Potential customers can also tap the 3D hologram button or scan the QR code on their mobile device to place a 3D model hologram in their room using web-based AR. Therefore, the growing demand for AR technology in e-commerce sales and marketing is driving the volumetric global Volumetric Video Market. Increased use of AR / VR application devices worldwide serves as one of the major drivers of the Volumetric Video Market. The proliferation of digital delivery devices that drive the need for 3D content, as well as the use of volume video by medical professionals to think about body parts in a better and easier way accelerate market growth.

The increase in demand for 3d / 360° content in the entertainment industry, as well as the increase in the number of studios involved in the production of film production and theaters also has an impact on the market. In addition, rapid urbanization, increased demand for improved game viewing, and increased demand for advanced image guide software positively affect the Volumetric Video Market. Additionally, the use of volumetric video for continuous medical imaging and imaging-directed surgery increases the potential benefits for market players.

The growing recognition of sports activities and the developing call for a more desirable, healthy viewing environment are the major elements driving the market. However, the high cost incurred initially for setting up the studio and reflected cost on the customers for long and high-quality video is a major restraining factor. Lack of standardization in the Volumetric Video Market adds up to the restraints furthermore. On the other hand, the increasing demand for advanced imaging surgery and the increasing use of video technology in theaters and film production create lucrative opportunities for the Volumetric Video Market to thrive worldwide.

Global Volumetric Video Market Segmentation Analysis

The Global Volumetric Video Market is segmented on the basis of Volumetric Capture, Application, And Geography.

Volumetric Video Market, By Volumetric Capture

• Hardware
• Processing Unit
• Camera Unit
• Photogrammetry Software
• Software
• Services

Based on Volumetric Capture, The market is segmented into Hardware, Processing Unit, Camera Unit, Photogrammetry Software, and Services. The hardware component is expected to hold the largest share of the Volumetric Video Market during the forecast period. The number of cameras used in volumetric recording studios ranges from two to over a hundred. A major factor contributing to the growth of the volumetric video hardware market is the increase in the number of studios built by major sports actors, filmmakers, sports, medical and advertising applications. Avatar Dimension and Volumetric Capture Stage from the US, Metaverse XR from UK, and Korea Immersive Studio from South Korea among others are a few recently opened studios in the last two years. Software is predicted to maintain the second-biggest percentage of the marketplace in the course of the forecast period. Software is required for the capturing, modeling, composting, editing, compression, and playback of volumetric video. Mod Tech Labs offers AI-enabled software, which plays computerized 3-d mesh technology from images.

Volumetric Video Market, By Application

• Signage & Advertisement
• Education & Training
• Medical
• Sports, Events, & Entertainment
• Others

Based on Application, The market is segmented Signage & Advertisement, Education & Training, Medical, Sports, Events, & Entertainment, and Others. The Volumetric Video Market for signage and advertising application is expected to grow at a very high CAGR during the forecast period. Smart advertising drives the need for this as it is a technology that can be deployed in corporate events, product launches, and advertising events.

Volumetric Video Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Regional Analysis, The global Volumetric Video Market is segmented into North America, Europe, Asia Pacific, and the Rest of the world. North America stands as the dominating region in the market. This is due to the adoption of highly technologically advanced solutions and the early adoption of emerging technologies in the region. The APAC Volumetric Video Market is expected to grow at a very high CAGR during the forecast period, driven by a growing number of art studios and the growing acceptance of volumetric video for sports, events, entertainment, and signage applications.
• The increasing adoption of the technology seen in Japan, China, and South Korea also stimulates market growth in the region. APAC retains some of the major players in the Volumetric Video Market ecosystem, such as Canon, Sony, Fujifilm, and Nikon, and many studios such as Jump Studio and Korea Immersive Studio from South Korea, Docomo XR Studio, and Volumetric Video Studio - Kawasaki from Japan, among others.

Key Players

• The "Global Volumetric Video Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Microsoft Corporation, Verizon Communications, Canon Inc., Sony Group Corporation, Intel Corporation, Google LLC, Unity Technologies, IO Industries Inc, 4Dviews, 8i, Stereolabs Inc., Scatter, Mark Roberts Motion Control, and EF EVE among others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• April 2022 - Nikon has formed a wholly-owned subsidiary, Nikon Creates Corporation, to be an authorized partner of Microsoft's Mixed Reality Capture Studios, providing the ability to plan, capture and produce 3D, virtual reality (VR) and volumetric content.
• May 2021 - Google introduced Project Starline. It is an early gadget that lets customers video call a person and enjoys them in hyper-practical 3-D. Project Starline makes use of cameras of high resolution and sensors of custom depth to capture the shape and look of the user from more than one perspective, which is fused through a software program to create an exceedingly detailed, real-time 3-D model.