Volumetric Video Market Size and Growth Report
Volumetric Video Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2023 – 2030
AUSTIN, TEXAS, UNITED STATES, April 10, 2024 /EINPresswire.com/ — Market Analysis & Report Scope:
The SNS Insider report indicates that The Volumetric Video Market Size was valued at USD 1.97 billion in 2022 and is expected to reach USD 13.80 billion by 2030, growing at a CAGR of 27.5% over the forecast period 2023-2030.
The Volumetric Video market encompasses a advanced video format that captures images in 3D or 2D, revolutionizing various industries from teleconferencing to medical imaging. Enabled by multi-camera systems, this technology creates dynamic 3D models from diverse perspectives, offering immersive experiences to users. While facing challenges such as complex software requirements and content standardization gaps, the market progresses due to strategic collaborations and continuous innovations. Both startups and industry leaders actively participate in research and development, expanding their offerings and enhancing the market potential of Volumetric Video. Exciting applications such as advanced medical imaging and 5G-enabled teleconferencing are driving the market growth further.
The Volumetric Video market is poised for substantial growth, especially in sectors like teleconferencing and the integration of 5G technology. The introduction of 5G offers advantages such as minimal latency and high-speed bandwidth, enabling smooth delivery of volumetric video content. The market is diversifying its applications, including advanced medical imaging and image-guided surgery, which present lucrative growth opportunities. However, challenges like the need for sophisticated image processing software and the lack of standardization in 3D content creation exist. Industry stakeholders are addressing these hurdles through partnerships, product advancements, and technological innovations, fostering market development. Both emerging startups and established players are actively involved in R&D endeavors, enhancing the market’s growth potential.
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Top Companies Featured in Volumetric Video Market Report:
Intel Corporation, 8i, Microsoft Corporation, 4Dviews, Google LLC, IO Industries Inc, Verizon Communications, Sony Group Corporation, Mark Roberts Motion Control, Capturing Reality, Evercoast, 3nfinite, m Mantis Vision Ltd, Unity Technologies, Stereolabs Inc., Canon Inc., Scatter, Dimension, DGene, Tetavi, Arcturus Studios Holdings & Other Players.
The Volumetric Video market is driven by increasing demand for immersive media experiences across various sectors, including entertainment, education, and virtual events. Secondly, advancements in 5G technology and telecommunications infrastructure are enabling faster data transmission and enhancing the quality of volumetric video content delivery. The rising applications of volumetric video in industries such as healthcare, entertainment, and advertising are fueling market expansion. the expanding consumer base and increasing awareness of the capabilities and benefits of volumetric video applications are driving adoption and market penetration.
Segment Analysis Paragraph
By component, hardware dominates the Volumetric Video industry in 2022 due to its critical role in capturing and processing volumetric data efficiently.
By application, The Signage and Advertisement segment holds a larger market share in 2022, driven by the demand for engaging and interactive advertising solutions across various sectors.
Volumetric Video Market Segmentation as Follows:
BY COMPONENTS
• Hardware
• Software
• Services
BY CONTENT DELIVERY
• AR/VR Head-mounted Display (HMD)
• Volumetric Displays
• Projectors
• Smartphones
BY APPLICATION
• Events
• Sports
• Entertainment
• Education and Training
• Medical
• Signage and Advertisement
• Others
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Impact of Economic Downturn
The economic downturn has affected the volumetric video market, leading to temporary disruptions in supply chains and project timelines. However, the market’s resilience and innovative solutions have helped mitigate these challenges, driving continued growth.
Impact of Russia and Ukraine War
The Russia and Ukraine war has influenced the market, particularly in terms of supply chain disruptions and geopolitical uncertainties. Industry players are adapting strategies to manage these impacts while maintaining market stability.
Key Regional Developments
North America region is the dominant region in the Volumetric Video Market, primarily due to its well-established technological infrastructure, extensive research and development (R&D) activities, and high adoption rates among businesses. This region’s advanced capabilities and early adoption of new technologies have contributed to its leadership position.
The Asia Pacific region is experiencing rapid growth and is poised to become a key player in the market. Factors such as rapid digitalization, substantial investments in technology across various industries, and the expansion of consumer markets are driving this growth. The region’s dynamic economies.
Key Takeaways for Volumetric Video Market
• Increasing adoption of volumetric video in diverse industries fuels market growth.
• Technological advancements like 5G and AI enhance volumetric video capabilities.
• Strategic collaborations and innovations are key drivers for market expansion.
Recent Developments
• In January 2023, Unity and Google expanded their partnership to support studio growth.
• In November 2022, Intel deployed advanced cameras and AI solutions for volumetric capture.
• Intel also launched streamlined AI benefits within Intel Partner Alliance to drive innovation.
Table of Content – Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Volumetric Video Market Segmentation, By Components
9. Volumetric Video Market Segmentation, By Content Delivery
10. Volumetric Video Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion
Continued….
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