From Virtual To Volumetric: Volumetric Video Market Set to Soar Past USD 16.24 Billion by 2030
SkyQuest Technology Consulting Pvt. Ltd.
3 min read
SkyQuest Technology Consulting Pvt. Ltd.
The global Volumetric Video market size is expected to reach USD 16.24 billion by 2030 and exhibit a CAGR of 26.9% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand for immersive experiences, growing adoption of virtual reality (VR) and augmented reality (ar) technologies, advancements in depth-sensing cameras and capture systems, and the emergence of 5g networks for seamless streaming of volumetric content are fueling the market's growth.
Westford, USA, June 26, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research on Volumetric Video Market, increasing use of volumetric video in social media platforms, development of lightweight and portable volumetric capture solutions, integration of artificial intelligence (ai) and machine learning (ml) in volumetric video processing, the emergence of cloud-based volumetric video services, growth of volumetric video streaming platforms, application of volumetric video in teleconferencing and remote collaboration, focus on improving compression and transmission technologies for efficient delivery of volumetric content, are the trends that aid in the market's growth.
Volumetric video is a type of video that captures the full 3D shape of a scene. It is often used in virtual reality and augmented reality applications. The volumetric video market is rapidly growing and is expected to reach $10 billion by 2025. The growth of the volumetric video market is being driven by the increasing demand for immersive experiences in the entertainment, gaming, and education sectors.
Prominent Players in Volumetric Video Market
Microsoft
Intel
Unity Technologies
Alphabet
Sony
4D Views
8i
Scatter
Stereolabs
Jaunt
Metastage
ModTec Labs
Canon
Dimension
Evercoast
Vividq
Coretec Group
Voxon Photonics
Holoxica
Volucap
Software Component Demand to Grow Substantially in the Forecast Period
Software components dominated the global market as they are widely used for volumetric videos. Volumetric video processing software enables the conversion of captured 3D data into a format suitable for rendering and playback. It involves complex algorithms and techniques to stitch together multiple camera views, generate depth maps, and create a cohesive volumetric representation.
Browse summary of the report and Complete Table of Contents (ToC):
In terms of application, entertainment is the leading segment due to the increasing demand for immersive and engaging content. In addition, it offers the ability to capture real-world performances and objects in three dimensions, providing a more lifelike and interactive experience for viewers.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a high demand for immersive experiences, driven by the strong presence of the entertainment and gaming industries. There is a significant consumer base that is eager to explore cutting-edge technologies, such as virtual reality (VR) and augmented reality (AR), which are closely related to volumetric video. This demand drives the adoption and growth of the volumetric video market in the region.
A recent report thoroughly analyzes the major players operating within the Volumetric Video market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Volumetric Video.
Key Developments in Volumetric Video Market
In January 2023, Microsoft partnered with 8i to bring volumetric video to Microsoft Teams.
In February 2023, Unity Technologies partnered with Canon to bring volumetric video to the Unity platform.
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
