Global Volumetric Video Market - 2022-2029

Global Volumetric Video Market - 2022-2029

Market Overview

The global volumetric video market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

The next generation in video recording is volumetric video. The convergence of spatial computing and virtual and augmented reality includes positional tracking and immersion. Volumetric video is the future of video recording and breakthrough innovation. By reflecting the actors' visual and emotional reality to the audience, the volumetric video helps the viewer focus on the content and message. Furthermore, volumetric video is far more effective than animating a moving person if preproduction is done properly.

Employee training, corporate communications, customer service, marketing, advertising and brand recognition are a few applications of volumetric video. As VR’s usage steadily grows across industries in media and entertainment, architectural and product visualization will boost the demand for volumetric technology alongside it to facilitate high-quality immersive content. Many software and hardware solutions are emerging to satisfy the many needs of an AR buyer's market, from E-Commerce to Sports; as interest and usage grow and volumetric video is a powerful solution available worldwide.

Market Dynamics

The global volumetric video market is expected to boost with the growing popularity of virtual reality & augmented reality.

Growing popularity of Virtual Reality & Augmented reality

The uplift in the usage of Augmented Reality (AR) and Virtual Reality (VR) technologies has prompted the advancement of volumetric video capturing and streaming as crucial technologies. As a result, volumetric video is fast evolving and gaining traction in the increasingly digital environment. The demand for video has increased due to the rapid increase in video usage. The increased accessibility of WebAR has led to a rush of organizations adopting WebAR engines to communicate with potential clients due to the expansion of AR, VR and XR across numerous enterprises and advertising spaces.

The use of volumetric video by developers saves the extra money and time of creating 3D models from scratch, as the targets are autonomously scanned in as part of the recording. A user can project the volumetric recording in real-life space, like a hologram with AR technology. In 2021, 8i, a provider of holograms with volumetric video and 8th Wall, an AR platform for creating frictionless content for WebAR, debuted their integrated hologram as part of an event that featured the first live-streamed hologram interview in WebAR. The real-time holograms symbolize an advancement in volumetric video technology that promotes the future of communication in 3D, where real people are brought into immersive digital environments all within milliseconds of interactive augmented reality experiences.

High costs coupled with technical barriers

Yet, while the potential of volumetric video is vast, its underlying technology stays a niche avenue of exploration, accessible only to a limited number of companies and businesses. High costs and technical barriers imply that volumetric research is reserved for juggernauts with large teams and deep pockets that can aggregate the capital cost. For practical application of volumetric, the companies charge thousands per minute of production. Ultimately, it becomes difficult for small-scale businesses and setups to explore and experiment with volumetric video capture to unlock the potential of this pioneering technology.

Volumetric video is still in the experimentation phase, both technologically and creatively. Unfortunately, it’s still expensive to create volumetric video captures in a professional studio for most creators and producers, but more accessible solutions are evolving rapidly. More productions and interesting content will be using the technology after it gets easier and more accessible to capture volumetric videos. Future advancements in capture hardware will allow more portable setups, features around playback and editing and a distinct focus on getting volumetric video into the mainstream, whether through studios or by a smartphone camera and LiDAR sensors.

COVID-19 Impact Analysis

The use of volumetric video in education, virtual events, medical training and art and entertainment during the COVID-19 pandemic. In the entertainment sector, the inability to assemble in venues for sporting events was one of the most significant disruptions. The 2020 National Basketball Association and Major League Baseball seasons were suspended in the U.S. Moreover, the Summer Olympics in 2020 were rescheduled for 2021. As a result of these disruptions, the sports industry had to resolve how to bring fans to the game virtually. One of the technologies utilized by the industry is volumetric video. The technology takes fans to the center of sports action, delivering views from unprecedented angles, including referees’ vantage points and aerial perspectives. Leagues and broadcasters employed “True View” to give spectators detailed experiences, offering a format that deepened analysis and heightened storytelling.

For many firms worldwide, the pandemic has accelerated the need for virtual training and communication. One way to get around the drawbacks of remote work is to employ volumetric video. Companies can use volumetric video to record personnel or scenarios rather than digitally reconstructing them from scratch, as certain virtual reality simulations require. Trainers can deliver live presentations using volumetric video and extended reality training software. Immersive courses, which are completed in real-time or through pre-recorded sessions, are the way of the future for staff training.

Segment Analysis

The global volumetric video market is segmented based on volumetric capture, workflow, application and region.

Companies looking for upgraded techniques for offering efficient training sessions will boost the demand for the volumetric video market

Based on application, the global volumetric video market is segmented into training, sports, video games and esports, education, virtual tours, entertainment, advertising and others.

To get the most from their training and for their staff, companies can use improved tools and a mash-up of training approaches. Technology enables real-time teamwork, interactive environments, and flexibility for employee demands, such as volumetric video. It has been proven that experiencing anything in 3D with real-life physical movement improves information retention. Even though it's virtual, volumetric video creates a sense of presence, where a person feels as if they're in a real scene or circumstance.

Volumetric video is more than walking and around watching a 3D video. It is turned into an interactive program where people can collaborate in the immersive experience. It is a great opportunity to learn how to work in hazardous scenarios where real-life injuries to equipment could occur. For example, a company can record and simulate various scenarios they've encountered with equipment or human error in the mining sector. Employees could walk through the training, interact with real recordings of the mining environment and live firsthand what is a dangerous situation and the right ways to cope with it.

Geographical Analysis

North America is expected to witness significant growth in the volumetric video market due to high demand from sports TV broadcasters to offer new tactics to spice up live coverage

The volumetric video involves utilizing digitalized 3D spatial data rendered by computers to create a virtual space that generates videos from any angle. The technology has attracted significant interest in the sporting world in the region and is becoming widespread in the entertainment industry. TV broadcasters attempt new tactics to spice up live coverage, including truly wild things for sports. For example, in 2022, ESPN, for the first time, used 3D volumetric video for a live full-game NBA match broadcast. The project results from a collaboration between ESPN Edge, NBA, Disney Media & Entertainment Distribution Technology teams and Canon. The structure uses Canon's Free-Viewpoint Video system with over 100 data capture cameras placed around the basketball court.

Volumetric capture turns objects and humans into 3D images that look real from a 360-degree angle. The rapidly growing commercial and enterprise needs in the U.S to blend the physical world with the digital world to serve their customers, from health care to advanced learning, entertainment of all kinds, military and more.

Competitive Landscape

The global volumetric video market is moderately competitive due to the presence of hardware and software providers. Major players in the market include Avatar Dimension, Metastage, Arcturus Studios Holdings, Inc., Holocap, Lightspace Technologies, Canon Inc, Microsoft, Intel Corporation, Sony Group Corporation, 8i, among others.

The major players in the market are known to incorporate numerous market strategies to achieve growth in the global volumetric video market; these include acquisitions, mergers, product launches, advancements and collaborations.

Microsoft

Overview: Microsoft develops services, software and hardware devices that deliver new opportunities, greater convenience and enhanced value to society. Microsoft serves its products and services through eight (8) categories: applications and infrastructure, data and AI, developer tools, power platform, modern workplace, business applications, security and gaming.

At Mixed Reality Capture Studios, Microsoft offers recording of holographic video—holograms of dynamic performances and people. The audience can interact with the holograms on VR, AR, and 2D screens. The company has around 120 subsidiaries across North America, Europe, South America, Middle East and Asia.

Product Portfolio:

Mixed Reality Capture Studios: It enables content creators to make 360-degree holograms from real-life subjects that can be used in augmented reality and virtual reality applications. In holographic headsets or 2D screens, the holograms captured from people and performances engage audiences authentic, impactful ways.

Key Development: In 2020, Microsoft selected Avatar Dimension as the licensee for its volumetric capture technology in Washington, D.C. After a stringent testing process, Microsoft Mixed Reality Capture Studios has approved the new studio, which is now ready for full operation. The studio captures volumetric humans for governments and businesses, essential for powerful virtual experiences across all categories.

Why Purchase the Report?

To visualize the global volumetric video market segmentation by volumetric capture, workflow, application and region and understand key commercial assets and players.

Identify commercial opportunities in the global volumetric video market by analyzing trends and co-development.

Excel data sheet with numerous volumetric video market-level data points with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Volumetric Capture mapping is available as excel, consisting of key products of all the major market players

The global volumetric video market report would provide approximately 61 tables, 58 figures and almost 110 pages.

Target Audience 2022

Service Providers/ Buyers

Industry Investors/Investment Bankers

Hardware Providers

Software Companies

AR/VR Companies

Advertisement Companies

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Distributors