Volumetric Video Global Market By Volumetric Capture, By Content Delivery, By Application, By Region And Segment Forecasts, 2024-2033 | Alphabet Inc., Microsoft Corporation, Verizon Communications, Meta Platforms Inc., Sony Group Corporation

Volumetric Video Market

The Volumetric Video Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Volumetric Video Global Market Report 2024, The volumetric video market size has grown exponentially in recent years. It will grow from $2.25 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to increased consumer demand for immersive content, media and entertainment industry investments, live events and sports broadcasting, gaming industry integration, educational and training applications.

The volumetric video market size is expected to see exponential growth in the next few years. It will grow to $8.09 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to expansion in healthcare applications, cinematic experiences in theme parks, enhanced content creation tools, global expansion of volumetric video studios, accessibility and standardization efforts. Major trends in the forecast period include advancements in capture technology, virtual conferencing and events, cloud-based volumetric video services, real-time volumetric video streaming, collaborations and partnerships.

The upsurge in the usage of augmented reality is expected to propel the growth of the volumetric video market. Volumetric video capture technology is an approach that digitizes a three-dimensional space, such as an object, volume of space, or environment in real-time using a collection of cameras set around a target. Augmented reality is successful in delivering cultural heritage applications, including exhibition data management, architectural and environmental heritage reconstruction, representation, exhibition curation, and storytelling. For instance, according to a report by Hong Kong-based Counterpoint Research, the shipments of Virtual Reality (VR) and Augmented Reality (AR) headsets are expected to grow about 10 times to 105 million units in 2025, from 11 million units in 2021. Hence, the increasing adoption and utilization of AR devices is expected to boost the market in the forecast period.

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The volumetric video market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Content Delivery: Projectors, AR/VR Head-Mounted Display (HMD), Smartphones, Volumetric Displays
3) By Application: Sports And Entertainment, Medical, Signage And Advertisement, Education And Training

Major companies operating in the volumetric video industry are adopting a strategic partnership approach to enhance innovation and expand market reach. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in July 2021, IBM, a US-based technology company, partnered with Canon Inc., a Japan-based provider of consumer, business-to-business, and industrial digital imaging solutions. With this partnership, they aim to make high-quality digital video content creation more accessible with the use of volumetric video technology in entertainment and the arts through a joint go-to-market effort. Volumetric video technology leverages cameras and advanced data processing to render 3D images from a virtual space, which allows for video points of view to be generated from any angle within that space to create a more immersive experience for viewers.

The volumetric video market report table of contents includes:
1. Executive Summary