Global Volumetric Video Market

Global Volumetric Video Market Size, Share, Growth Analysis, By Volumetric Capture(Hardware, Software), By Application(Sports, Events), By Content(Projectors, AR/VR head mounted display (HMD)) - Industry Forecast 2024-2031

Report ID: SQMIG45I2144 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 94 | Figures: 75

Global Volumetric Video Market News

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Volumetric Video Market size was valued at USD 1.5 billion in 2019 and is poised to grow from USD 1.9 billion in 2023 to USD 16.24 billion by 2031, growing at a CAGR of 26.9% in the forecast period (2024-2031).

Volumetric Video manufacturers continue to prioritize technological advancements in the product. Such developments, combined with competitive pricing, are likely to help them increase their market share during the forecast period. Companies are investing heavily in R&D to overcome the challenges associated with using Volumetric Video and to improve product quality. For instance, Microsoft creates services, software, and hardware devices that provide new opportunities, increased convenience, and increased societal value. Microsoft's products and services are divided into eight (8) categories: applications and infrastructure, data and artificial intelligence (AI), developer tools, powerful platforms, modern workplace, business applications, security, and gaming. 'Microsoft Corporation ', 'Intel Corporation', 'Facebook, Inc.', 'Light Field Lab, Inc.', '8i Limited', 'The Foundry Visionmongers Ltd.', 'OTOY Inc.', 'Stereolabs Inc.', 'Unity Technologies, Inc.', 'Dassault Systemes SERealView Imaging Ltd.', 'Holoxica Ltd.', 'Volograms Ltd.', 'Raytrix GmbH', 'Voxon Photonics Pty Ltd.', 'Holografika Kft.', 'Threekit, Inc.', 'Arcturus Industries, Inc.', 'Looking Glass Factory, Inc.', 'Cognitivescale, Inc.'

360° video is a compelling and interactive video content technology that enables viewers to rotate the video display to any angle they want. The increased viewer accessibility of watching a video from various potential angles is expected to increase demand for 360° video during the forecast period. Furthermore, various market players are focusing on incorporating volumetric video software tools for user convenience. Various major video streaming platforms around the world are launching 360° video platforms to improve viewers' viewing experiences. For instance, 4DREPLAY (a provider of 4D unique video solution technology) has released a new media drama series (Dangerous Couples) created with 4DReplay, a 360-degree video technology. Based on our in-depth analysis of the market, we also found that this technology was used for the first time in the history of Korean new media platform dramas. As a result, the demand for 360° video content is increasing in the entertainment sector, driving the growth of the global volumetric video market.

The use of 3D holograms for online purchasing has increased the demand for volumetric video with the rise of AR technology in retail and e-commerce. Video content has been shown to increase traffic to e-commerce or online retail websites and assist customers in purchasing the right products. For instance, In April 2021, Arcturus and ANAYI (Japanese clothing brand) highlighted their new spring and summer collection 2021 by releasing 19 original volumetric videos. Customers can use any browser to select a video from their desktop and view a model in motion from any angle, along with a close-up to see how the textile would drape and move with the wearer. Potential customers can also use web-based AR to place a 3D hologram of the model in their room by tapping the 3D hologram button or scanning a QR code on their mobile device. As a result, the growing demand for augmented reality (AR) technology in retail and e-commerce is propelling the global market.

North America is expected to have the largest market share. Growing demand from sports TV broadcasters for new tactics to spice up live coverage in the region is accelerating the demand for volumetric video. The volumetric video involves the use of digitalized 3D spatial information rendered by computer systems to create a digital space from which videos can be generated from any angle. The technology has sparked considerable interest in the region's sporting world and is gaining traction in the entertainment industry. TV broadcasters’ experiment with new strategies to spice up live coverage, including some truly bizarre sports coverage. These factors are accelerating the demand in the region and are expected to dominate the market over the forecast year.

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