BANGALORE, India | 8th December 2020: The Volumetric Video Market is Segmented by Industry Type (Hardware, Software), Application (Advertisement, Sports Events & Entertainment, Medical, Education & Training, Other), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2019–2026. This report is published on Valuates Reports in the Software & Services Category.
The global Volumetric Video market size is projected to reach USD 1852.3 Million by 2026, from USD 592.5 Million in 2020, at a CAGR of 20.9% during 2021-2026.
Volumetric video captures the act or scene from several standpoints, and then the captured information is used for creating a depth map of the recorded video. Volumetric video technology can be deployed at shows, live events, product launches, advertising and promotions, exhibitions, presentations, and conferences.
Major factors driving the growth of volumetric video market size are increasing demand for 3D/360° content in entertainment and AR/VR applications coupled with the proliferation of content delivery devices such as AR/VR HMDs.
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TRENDS INFLUENCING THE VOLUMETRIC VIDEO MARKET SIZE
The rise in demand for enhanced match viewing experience in sports applications is the most significant factor driving the demand for volumetric video. This increase in the adoption of 3D content in the sports sector is increasing the volumetric video market size growth.
Also, There is an increase in the need for volumetric content in medical applications since it allows the use of holograms in medical imaging by surgeons to display the body organ at 360 degrees. It also allows doctors to imagine the parts of the body in a better and simpler way and can be used for educational purposes in medical centers. These factors are expected to contribute to the growth of the volumetric video market size.
Another factor driving the growth of the volumetric video market size is the increase in the number of studios which are involved in the volumetric content production for filmmaking and gaming applications.
Furthermore, the increased demand for augmented and virtual reality (AR/VR) applications and strong adoption rates by tech giants such as Microsoft, Facebook, Intel, and Google are fueling the growth of the volumetric video market size.
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VOLUMETRIC VIDEO MARKET SHARE ANALYSIS
North America is expected to hold the largest volumetric video market share during the forecast period. North America is home to major global volumetric video industry vendors. The high demand for volumetric solutions in various industries is driving the volumetric video market size in the North American region. Most of the demand for volumetric video systems in the region is likely to derive from the U.S.
The volumetric video market share in APAC is expected to grow at the highest CAGR during the forecast period. This rapid growth of the APAC region is attributed to the growing number of professional creative studios.
Based on the application, the sports, events, and entertainment application is expected to hold the largest volumetric video market share during the forecast period.
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VOLUMETRIC VIDEO MARKET SEGMENTATION BY INDUSTRY
Volumetric Video Market segment by Type, the product can be split into
- Hardware
- Software
Volumetric Video Market segment by Application, split into
- Advertisement
- Sports Events & Entertainment
- Medical
- Education & Training
- Other
Key Major Vendors
- Intel
- Microsoft
- RealView Imaging
- 8i
- LightSpace Technologies
- The Coretec Group
- Voxon Photonics
- Jaunt
- Omnivor
- Hammerhead
- HypeVR Technology.
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