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DUBLIN–(BUSINESS WIRE)–Mar 5, 2020–
“Volumetric Video Market by Volumetric Capture (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports, Events and Entertainment, Medical, Signage, Education & Training), & Content Delivery and Region – Global Forecast to 2025”
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The Global Volumetric Video Market is Estimated to Grow from USD 1.4 Billion in 2020 to USD 5.8 Billion by 2025, at a CAGR of 32.8% Between 2020 and 2025.
Increase in adoption of 3D content in the sports sector is the major factor driving the growth of the volumetric video market. The most significant factor driving the growth of this market is the increase in demand for improved match viewing experience in sports applications.
Rising need for volumetric video technology in events and creative advertisement drives the growth of the volumetric video market.
Volumetric video is a spectacular technology that can be deployed at shows, live events, product launches, advertising and promotions, exhibitions, presentations, and conferences.
For instance, in November 2017, Intel announced a partnership with Turner Sports to bring virtual reality and volumetric production technology to NBA league media partners. During this project, Intel offered virtual reality and 360 volumetric video with Intel freeD technology. The volumetric video technology is rapidly penetrating the market, and various advertising campaigns use it to display their products to offer their clients a realistic view of their product.
Increasing number of volumetric capture studios drives the demand for the volumetric software market.
The major factor fueling the growth of the volumetric video software market is the increasing number of studios constructed by major players where volumetric content is created for filmmaking and gaming applications.
For instance, in January 2018, Intel launched a state-of-the-art studio dedicated to the production of large-scale, volumetric content for immersive media.
In October 2017, Microsoft Mixed Reality Capture Studio launched Dimension, a volumetric video and 3D capture studio in partnership with Hammerhead VR and Digital Catapult.
In June 2018, VoluCap launched a volumetric video capture studio in Berlin. The studio is equipped with stereoscopic depth technology that allows innovative ways of presenting the filmed content.
In July 2019, Mark Roberts Motion Control (MRMC), a Nikon company, launched a mobile multi-solution volumetric capture studio named Polymotion Stage in partnership with Dimension.
Sports, event and entertainment sector captures the major markets share in the volumetric video market
The sports, events, and entertainment application is driven by the increasing adoption of volumetric video across the world. Various key leaders are partnering with sports clubs to deliver new and interactive offerings to customers taking into account the emerging demand for volumetric video in the sports and entertainment sectors.
For instance, in February 2019, Intel collaborated with Manchester City, Liverpool FC, and Arsenal FC to provide immersive experiences through Intel’s True View at the Emirates Stadium, Anfield, and the Etihad Stadium. Intel’s True View transforms volumetric video data into immersive 3D replays.
Volumetric video market in APAC to grow at highest CAGR during the forecast period
The volumetric video market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growing number of professional creative studios.
In November 2019, Voxon Photonics (Australia) unveiled the VX1 hologram table, which can create interactive 3D images that appear to be floating in the air, above a table that a group of people can stand around and see without any visual aids.
Demand for Enhanced Match Viewing Experience
Increasing Demand for 3D/360 Content in Entertainment Sector
Proliferation of Content Delivery Devices Driving Demand for 3D Content
High Cost of Production of Volumetric Video
Less Effective Projection Under Sunlight
Latent Potential of Volumetric Video in Teleconferencing
Growing Applications of Volumetric Video for Progressive Medical Imaging and Image-Guided Surgery
Requirement of Complex Software Solutions for Image Processing
Lack of Standardization in 3D Content Creation
The Coretec Group (3Dicon)
Humense Pty. Ltd.
Other Important Players
Samsung Electronics America
Mark Roberts Motion Control
Sony Pictures Digital Productions Inc.
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INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 03/05/2020 10:02 AM/DISC: 03/05/2020 10:02 AM