Volumetric Video Market Worldwide Analysis on Revenue, Segmentation and Key Players
The volumetric
video market is estimated to grow from USD 1.5 billion in 2021 to reach USD
4.9 billion by 2026; it is expected to grow at a CAGR of 26.9% from 2021 to
2026. A few key factors driving the growth of this market are surging 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, growing demand for AR in retail and e-commerce sectors due to
COVID-19, and rising investments in AR/VR ecosystem.
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The volumetric video market for services is expected to grow
at the highest CAGR during the forecast period. Companies such as Vologram
provide cutting-edge volumetric video processing solutions on their cloud
platform, which guarantees a fast, cost-effective, and scalable solution with
pay-per-reconstruction options. Evercoast offers a comprehensive, end-to-end
solution for volumetric capture, post-processing, and streaming to the web,
Unity, and Unreal Engine.
The volumetric video market for signage and advertisement
application is expected to grow at the highest CAGR during the forecast period.
Creative advertising is driving the demand for volumetric video as it is a
spectacular technology that can be deployed at corporate events, product
launches, and promotional events. The growth of digital signage would drive the
demand for better advertising content and, subsequently, propel the demand for
volumetric video in the coming years. With the growing competition, consumer
engagement is becoming critical. Volumetric videos could be a boon for
businesses by helping in developing new and unique content, gaining more
consumer attraction, and increasing profits.
The volumetric video market in APAC is projected to grow at
the highest CAGR during the forecast period, driven by the growing number of
professional creative studios and the increasing adoption of volumetric video
in sports, events, and entertainment and signage & advertisement
applications in the region. The increasing adoption of augmented reality
technology in Japan, China, and South Korea also propels market growth in the
region. APAC houses some of the major players in the ecosystem of the
volumetric video market, such as Canon, Sony, Fujifilm, and Nikon, and multiple
studios such as Jump Studio (South Korea), Docomo XR Studio (Japan), Korea
Immersive Studio (South Korea), and Volumetric Video Studio – Kawasaki (Japan),
among others.
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The recent technology trends that may change the dynamics of
the volumetric video market include, rmergence of mobile volumetric studio on
wheels, adoption of 3D volumetric capture booths, telecom players partnering
with volumetric capture solution providers, volumetric capture as a rental
service and artificial intelligence and machine learning in volumetric video
capture.
News also Covered: https://www.prnewswire.com/news-releases/volumetric-video-market-worth-4-9-billion-by-2026--exclusive-report-by-marketsandmarkets-301447228.html
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