The volumetric video market is evaluated at US$186.830 million in 2019 and is projected to grow at a CAGR of 26.18% to reach US$951.438 million in 2026
Volumetric video is a technique that record videos in 3D, capturing an object or a three-dimensional space such as location in real-time. The acquired data using such volumetric video techniques can be viewed using mobile phones, TV, web or using 3D displays and VR goggles. Volumetric video can be used in shows, live events, presentations, exhibitions, and conferences. Many players in the market have established studios to facilitate volumetric video services to their clients as per their requirements on a custom made basis. The volumetric video technology with help of multiple captures images of real objects using numerous sensors to detect the motion of the object. These images are used to create dynamically moving 3D models, which can be arbitrary viewpoints in a virtual scene. For instance, the volumetric video used to record a person can be viewed from all the angles in their real shape and dimension. The increasing number of studios established by major market players for gaming, film making and other entertainment applications is fuelling growth in the market. For instance, Microsoft has recently partnered with an Immersive media company, Imagine room to build and operate a mixed reality studio in Australia. Moreover, Microsoft Mixed reality has also partnered with Dimension studios. Growing demand for 360/3D content and VR applications paired with the increase in content delivery devices such as AR, VR are factors driving the growth of the volumetric video market. However, the significant cost of manufacturing volumetric video is hampering the growth in the volumetric video market.
The outbreak of the novel coronavirus disease severely impacted the volumetric video market. The pandemic led to a major disruption in the sports calendar with major sporting events like Formula One, Indian Premier League, Wimbledon and Euro 2020 among others being cancelled or delayed indefinitely. Besides, to contain the spread of the virus, several major sporting leagues around the world had to take extraordinary measures of either postponing or cancelling the ongoing sporting fixtures. Similar cancellations and stoppages were seen in other entertainment industries. These disruptions have impacted the revenue streams of the players operating in the volumetric video market. However, the gaming industry witnessed a boom as many people were confined within their homes and resorted to various online streaming and gaming applications.
The Volumetric video market has been segmented based on type, application, and geography. Geographically, the analysers market is segmented into North American, European, Asian Pacific, South American and the Middle East and African region.
Sports, Events and Entertainment to hold a significant market share
By application, the classification of the market has been done as Sports, Events and Entertainment, Advertisement, education and training, Medical and others. The Sports, Event and Entertainment segment is projected to hold a significant share in the market until the end of the forecast period. Improvement in camera technology coupled with advancements in lenses has improved the viewing experience for the end-users. Major market players such as Facebook, Microsoft, Intel, and Google have made significant developments in their products for the sports and entertainment market. .Besides, various key market leaders are collaborating with sports and entertainment companies by delivering interactive and innovative volumetric video solutions to customers. For instance, Sacramento Kings have recently partnered with Intel Sports for Intel True View at the Golden 1 Centre to provide its fans with innovative and immersive fan experiences. Similarly, Intel had partnered with top Premier League teams like Manchester City FC, Arsenal FC and Liverpool FC to provide its fans with immersive experiences through its Intel true View at the Emirates, Anfield and the Etihad Stadium. Moreover in October 2020, Manchester city extended its partnership with Intel Sports. Besides, in the entertainment field, Spotify and Sam Smith have partnered to launch an immersive augmented experience for its single with the help of Dimension studios. Thus, increasing demand for enhanced content and immersive experiences is bolstering the growth of the volumetric video market.
North American region to witness lucrative growth opportunities
Geographically, the distribution of the global market has been done in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is expected to hold a significant share in the market over the forecasted period owing to technological advancements and growing usage in the industry. Being an early adopter of emerging technologies, the North American region is home to major players in the volumetric video market. Thus, the high demand for volumetric video solutions in various verticals has been a driving force in the growth of the market. Moreover, the APAC region is expected to witness rapid growth owing to a growing number of studios and technological advancements in the region.
Participation by market players
The market players are actively participating in form of increased investments in R&D and are taking collaborative efforts for launching new products to expand their market share and meet the growing end-use requirements
Prominent market players in the Volumetric Video market include Facebook, Google, Intel, Microsoft, among others. The players in the volumetric video market are implementing various growth strategies to gain a competitive advantage over their competitors in this market.
Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Spectrum analyser market.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the market.
Notable players in the market are Facebook, Inc., Microsoft Corporation, Intel Corporation, Google LLC, LightSpace Technologies, RealView Imaging Ltd., Voxon Photonics, 8I Ltd., Holoxica and 4D view Solutions SAS.
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