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. Increasing applications of volumetric technology in several end-user industries coupled with a surge in demand for enhanced match viewing experience is the major factor driving the growth of the market.
The proliferation of content delivery devices such as AR/VR HMDs is driving the demand for 3D content. HMDs are used to view the volumetric content mainly in gaming and entertainment applications. The volumetric video market, by application, is segmented into sports, events, and entertainment; medical; education & training; signage & advertisement; and others. The increase in demand for improved match viewing experience is the major factor driving the growth of the volumetric video market, especially for gaming, events, and entertainment segment.
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What are the key trends opted by volumetric video providers in the volumetric video market?
The volumetric video market has witnessed mergers and acquisitions (M&A); partnerships; and product, technology, and prototype developments as the most active strategies. Numerous startups, industry giants, and a few research institutes have also taken up research into volumetric video technology; this would help in the growth of the volumetric video market during the forecast period.Volumetric capture companies are partnering with sports clubs to cater to the growing demand for enhanced spectator engagement.
What are the opportunities for the volumetric video market?
The latent potential of volumetric videos in teleconferencing and growing potential applications of volumetric video for progressive medical imaging and image-guided surgery are expected to offer growth opportunities for the volumetric video market.
Which applications are expected to drive the growth of the market in the next 5 years?
The sports, events, and entertainment application is expected to dominate the volumetric video market by 2025. This application is projected to grow at a high CAGR from 2020 to 2025. The sport, events, and entertainment application is among the major markets for volumetric video technology.
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Which are the major companies in the volumetric video market?
The volumetric video market is dominated by Microsoft Corporation (Microsoft) (US); Intel Corporation (Intel) (US); Facebook, Inc. (Facebook) (US); Google LLC (Google) (US); and 4D View Solutions SAS (4D Views) (France). Other major players in the market are Holoxica Ltd (Holoxica) (UK); LightSpace Technologies, SIA (LightSpace Technologies) (Latvia), The Coretec Group Inc. (The Coretec Group) (US); 8i Ltd. (8i) (New Zealand); RealView Imaging Ltd. (RealView Imaging) (Israel); Voxon Photonics (Voxon Photonics) (Australia); Unity Technologies (Unity) (US); IO Industries Inc. (IO Industries) (Ontario), Stereolabs (Stereolabs) (US): Raytrix GmbH (Raytrix) (Germany); OTOY Inc. (OTOY) (US); Samsung Electronics America Inc. (Samsung Electronics America) (US); MRMC (Mark Roberts Motion Control) (UK); Sony Pictures Digital Productions Inc. (Sony Pictures Digital Productions Inc.) (US); Verizon Wireless (Verizon) (US); Canon Inc. (Canon) (Tokyo). Key innovators include HypeVR (HypeVR) (US); Scatter (Scatter) (US); VividQ (VividQ) (UK); and Hammerhead VR (Hammerhead) (UK). Evercoast (Evercoast) (US); HoloCap (HoloCap) (US); HOLOOH - DOORWAY SAS (HOLOOH) (France); Volograms Limited. (Volograms) (Dublin); Volucap (Volucap) (Germany); Humense PTY LTD (Humense PTY LTD) (Australia); DoubleMe, Inc. (DoubleMe) (US); EF EVE (EF EVE) (London); Magic Leap, Inc. (Magic Leap) (US). Fraunhofer HHI (Germany) is a leading research institute involved in the research on volumetric video technology.