Volumetric Video Market Projected to reach $7.6 billion by 2028

The global volumetric video market is expected to be valued at USD 2.2 billion in 2023 and is projected to reach USD 7.6 billion by 2028; it is expected to grow at a CAGR of 28.6% from 2023 to 2028. The growth of the volumetric video market is propelled by using AR VR products in daily life, Companies adapting Volumetric solutions, and gaming. However, the implementation and studio setup is relatively expensive and are restraining factors for the growth of this market.

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Service holds the highest CAGR in the volumetric video market during the forecast period.

One of the critical benefits of volumetric video services is their ability to create highly realistic and interactive content for various applications, including virtual reality experiences, gaming, and marketing campaigns. With the growing popularity of immersive technologies, many companies are investing in volumetric video services to enhance their digital offerings and engage with audiences in new ways. Several companies offer volumetric video services, including Arcturus Studios, Dimension10, and Scatter. These companies provide various services, including 3D scanning and modeling, live streaming of events, and content production for virtual reality experiences.

In terms of deals and partnerships, many of these companies have collaborated with leading technology firms to enhance their capabilities and expand their reach. For example, Arcturus Studios has partnered with Google to integrate its volumetric video technology into the Google Cloud Platform. In contrast, Dimension10 has partnered with Nvidia to develop advanced rendering capabilities for its software platform.

Sports, events, & entertainment applications to hold the highest market share during the forecast period.

In sports, volumetric videos can give fans a unique perspective of the action, making them feel like they are part of the game. One of the most prominent examples of volumetric video in sports is Intel's partnership with the National Football League (NFL). Intel's True View technology captures volumetric video footage of every play during NFL games, providing fans with 360-degree views of the action. This technology has been used in the Super Bowl and is being rolled out to more stadiums across the US.

Volumetric video market in the US for North America to hold the highest market share during the forecast period.

The US is home to major players in the ecosystem of the volumetric video market, such as Intel Corporation, Microsoft, Facebook, and Google. In recent decades, medical imaging capabilities have progressed in the US owing to favorable government regulations and support from the National Science and Technology Council (US). The federal government invests in medical imaging research and plays a vital role in developing and deploying imaging technologies that would help enhance life expectancy and improve the quality of life of people, open new areas of scientific discovery, and ensure that the country remains a global leader in medical innovation. Holography and volumetric videos are emerging technologies, revolutionizing the medical vertical by serving as tools for visualizing patient data in training students and surgeons. Existing imaging systems such as magnetic resonance imaging (MRI) and ultrasound scanners generate complex data using advanced imaging technology. However, visualizing the images obtained from these devices needs more depth cues. Volumetric videos have the potential to transform radiology and make it genuinely virtual.

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The volumetric video market includes significant Tier I and II players like Microsoft Corporation (US), Intel Corporation (US), Unity Technologies (US), Alphabet Inc. (US), Sony Corporation (Japan), and others. These players have a strong market presence for volumetric video across various countries in North America, Europe, Asia Pacific, and RoW.