Volumetric Video Market

Volumetric Video Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Volumetric Video Market: Introduction

Volumetric video is a method that records videos in three-dimensional, capturing a 3D space or an object-like location in real-time. The captured data using such volumetric video method can be viewed on web, TV, mobile phones or VR goggles, and 3D displays. Exhibitions, shows, presentations, conferences, and live events are major application areas of volumetric video. Companies have established studios to facilitate volumetric video services to their customers according to their requirements on a customized basis. Volumetric video technology with the aid of several video cameras captures images of real objects using multiple sensors and simultaneously creates naturally moving dynamic 3D models in order to detect the motion of the object. These images are used to create animatedly moving 3D models that can be arbitrary viewpoints in a virtual scene. For instance, volumetric video used to record a person can be viewed from all the angles in their real shape and dimension. Rise in number of studios established by major market players for entertainment, filmmaking, and gaming applications is boosting the volumetric video market.
The COVID-19 pandemic has negatively impacted the volumetric video market and has led to a major interruption in the sports calendar with major sporting events such as Wimbledon, Indian Premier League, Euro 2020, and Formula One being delayed or cancelled indefinitely. However, presently, the situation is recovering as Olympics 2020 were held successfully and other sport events have also resumed. This, in turn, is anticipated to create significant opportunities for the volumetric video market during the forecast period.

volumetric video market size and forecast

Global Volumetric Video Market: Dynamics

Global Volumetric Video Market: Key Drivers

Increase in application of volumetric video in entertainment and gaming industry, development of augmented reality facilitated software is also rising as it required three-dimensional and two-dimensional volumetric video capture. Three-dimensional volumetric video capturing includes more complexity than two-dimensional. Augmented reality enabled entertainment applications has further increased the demand for capture of three-dimensional volumetric video. Demand for three-dimensional volumetric video capture in the entertainment sector has increased, where it is utilized for gaming and cartoon character improvement.
Industries using volumetric video include retail, healthcare, automobile, and information technology. Companies such as Coca-Cola, Harley-Davidson, and Zara are using real-time volumetric video provided by consumers using their mobile application. Hence, rising use of techniques including augment reality across different business sectors is boosting the volumetric video market.

North America to Account for Major Share of Global Volumetric Video Market

In terms of region, the global volumetric video market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global volumetric video market owing to the rising demand for volumetric video solutions in numerous industries in the region. Significantly high demand for volumetric video systems in the U.S. is estimated to boost the market in the region.
The market in Asia Pacifica is anticipated to expand at a rapid pace, as compared to that in other regions, due to an increase in number of professional creative studios and technological advancements in the region

Global Volumetric Video Market: Competitive Landscape

Key Players Operating in Global Volumetric Video Market

Providers of volumetric video solutions are implementing development strategies to enhance their presence and consolidate their share in the market. Volumetric video solution providers have adopted major growth strategies such as product launches, partnerships & acquisitions, and forming regional and global distribution networks in order to increase their presence in the market. For instance, in October 2020, Sam Smith partnered with Spotify, an audio streaming and media services provider, to launch an immersive AR experience for three-dimensional studios.

In October 2019, Intel entered into partnership with Liverpool FC, Arsenal FC, and Manchester City, to deliver immersive experiences at the Anfield, Emirates Stadium and Etihad Stadium through the company’s True View, which transforms volumetric video data into three-dimensional replays.

Key players operating in the global volumetric video market include: