Volumetric Video Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the volumetric video market was valued at USD 2.3 billion in 2022, and a CAGR of 29.8% is expected during the forecast period. Use of augmented and virtual reality technology is expanding globally, and increasing demand for volumetric video for interactive gaming and entertainment purposes is driving growth in the market significantly.

Volumetric video enables 3D capture of real-world environments and people, enhancing the user experience in gaming, entertainment, and training applications. Progress in cameras, sensors, and light detection systems has made it easier to capture high-quality, detailed 3D content. These technological improvements have reduced the cost of volumetric capture, making it more accessible.

Growth Drivers

The entertainment industry, particularly film, TV, and live events, is increasingly using volumetric video to create more engaging and interactive content. Beyond entertainment, volumetric video is also finding its applications in healthcare, retail, education, and sports. These diverse use cases are driving the market growth. Deployment in 5G networks and advancements in cloud computing are increasing the accessibility and quality of volumetric video content. Faster data transmission and processing allow for real-time streaming, and the rendering of 3D content is boosting the market growth significantly. Major players in the entertainment industry, including film studios and music producers, are exploring volumetric video for creating holographic performances, live events, and immersive story telling.

Improvements in 3D capture technology, including cameras and sensors, as well as advancements in processing algorithms, are enabling more realistic and high-quality volumetric video. Rising investment from tech giants and startups in volumetric video technology, combined with strategic partnerships, is accelerating the development and commercialization of technology. Demand for more engaging remote collaboration and communication after the pandemic boosted interest in volumetric video. Its ability to create realistic avatars and environments makes it ideal for virtual meetings, conferences, and training sessions.

Segmentation

By Product Type

·         Hardware

·         Software

·         Services

By Application

·         Sports, Events, and Entertainment

·         Medical

·         Education and Training

·         Signage and Advertisement

·         Other Application

By Content Delivery

·         Projectors

·         AR and VR

·         Smartphones

·         Volumetric Displays

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Volumetric Video Market by Product Type Segmentation

On the basis of product type, the volumetric video market is segmented into hardware, software, and services. Hardware systems lead the market and are expected to dominate the region during the forecast period due to the high cost and demand of specialized capture equipment, including cameras, sensors, and processing units. Hardware is essential for creating 3D spatial data. However, software is rapidly gaining popularity in industries like entertaining, gaming, and healthcare.

Software plays a crucial role in editing, processing, and rendering volumetric video data. Services also form an essential form of ecosystems, especially for enterprises that lack the infrastructure. Increasing demand from medical, healthcare, sports, media, and entertainment is driving growth in the market significantly. Rising disposable income all over the world is driving growth in the market significantly.

Volumetric Video Market by Application Segmentation

On the basis of the application, the volumetric video market is segmented into sports, events and entertainment, medical, education and training, signage and advertisements, and other applications. Entertainment is the leading segment and is expected to dominate the market during the forecast period. An increasing number of professional film studios is driving growth in the market significantly.

Growing demand for 3D content in the market is significantly driving the growth in the market. Increasing demand for the medical and healthcare sectors is also growing the market significantly. Increasing use of volumetric video in the entertainment industry is significantly driving market growth. The increasing number of sporting events all over the world is also driving growth in the market significantly. Increasing growth in the advertisement sector is witnessing significant demand in the market.

Regional Outlook

On the basis of the regions, the volumetric video market is segmented into 5 parts: Asia Pacific, Europe, Middle East and Africa, North America, and Europe. North America is the leading segment in the volumetric video market and is expected to dominate the market during the forecast period due to innovation and technological advancements. Companies like Microsoft and Intel are investing heavily in this field, driving innovation and growth. Many of the global leaders in volumetric video, AR, VR, and MR industries are based in the North American regions. This includes both hardware and software providers and content creators.

Their dominance helps in maintaining North America’s leadership in the market significantly. North America has a mixture market for AR/VR technologies, which are closely linked to volumetric video. The entertainment industry in the region, particularly Hollywood, has been early to adopt volumetric video for creating immersive experiences in films, televisions, and live performances. Rising trend of using volumetric videos in sports broadcasting, concerts, and other live events. Increasing demand for volumetric video in healthcare, defense, entertainment, and media.

The regulatory environment in North America is generally supportive of tech innovation, allowing companies to experiment and bring new technologies like volumetric video. Infrastructure in North America, particularly in terms of 5G, cloud computing, and data centers, supports the bandwidth and processing requirements for volumetric video. Increasing demand for the health industry is driving growth in the market significantly. Asia Pacific is another leading segment in volumetric video.

The region is witnessing increasing urbanization and increasing disposable income during the forecast period. Increasing industrialization in the region is driving growth in the Asia-Pacific region. This region has a large population base, and hence the growth in entertainment and healthcare industry is magnificent. Increasing demand in sports, events, entertainment, and healthcare industry is driving growth in the market significantly. Increasing growth in the market in the United Kingdom region is a significant driver in the European market. Middle East, Africa, and Latin America are witnessing moderate growth due to increasing growth in technological advancements. The presence of key players in the region is driving growth in the market.

Key Players

·         Competition Deep Dive

·         8i Co.

·         Alphabet Inc.

·         Canon Corp.

·         Capturing Reality

·         Dimension Co.

·         Evercoast Co.

·         Intel Corporation

·         IO Industries

·         Mark Roberts Motion Control

·         Meta platforms

·         Metastage

·         Microsoft corporation

·         Scatter Company

·         Sony Corporation

·         Other Players