Global Volumetric Video Market

The volumetric video market is calculated to grow from USD 1.5 billion in 2021 to reach USD 4.9 billion by 2027; it is expected to grow at a CAGR of 26.9% from 2021 to 2027. A few essential aspects driving the growth of this market are rushing demand for the enhanced match viewing experience, growing demand for 3D/360° content in the entertainment sector, the proliferation of content delivery devices causing demand for 3D content, growing demand for AR in retail and e-commerce sectors.

What is Volumetric Video?

Volumetric video is a method that captures a three-dimensional space, such as a place or performance. This kind of volumography receives data that can be considered on flat screens using 3D visuals and VR goggles. Consumer-facing designs are numerous, and the required movement detection techniques depend on computer graphics, photogrammetry, and other computation-based methods. The observer normally experiences the result in a real-time engine and directly examines the generated volume.

Growth Drivers

Streaming demand for an improved match viewing experience

Volumetric video is being embraced rapidly in media, sports, and entertainment applications, and tech giants have already submitted volumetric VR studios to improve the viewer experience. Therefore, market players target specific applications to gain a competitive advantage. The increasing favor of sports events and the growing demand for improved match viewing experience are essential factors forcing players to innovate and develop products following spectators’ selections.

Growing demand for augmented reality in retail and e-commerce sectors

In April 2021, Arcturus and Japanese clothing brand ANAYI redefined online shopping and highlighted its new spring and Summer Collection 2021, ANAYI original volumetric videos. Shoppers can choose a video from their desktop working any browser and follow a standard in motion – from any angle, including close-ups – to witness how the fabric would drape and proceed with the wearer. Conceivable buyers can also dab the “3D Hologram” button or scan a QR code on a mobile device to establish a 3D hologram of the model in their room using web-based augmented validity.

Opportunities

The latent prospect of Volumetric Video in teleconferencing

In May 2021, Google declared Project Starline. An earlier system allows users to video call someone and experiences them in hyper-realistic 3D. Project Starline uses high-resolution cameras and business depth sensors to capture a user’s shape and formation from multiple perspectives, which software fuses to create an extremely detailed, real-time 3D model. The result is the feeling of a person sitting across the viewer. Google has also created a light field display that shows the realistic expression of someone sitting right in front of a user in three dimensions. The company has already spent thousands of hours testing Project Starline in its offices.

Restraint

High cost of production of Volumetric Video

The initial capital investment requested for developing a volumetric capture solution increases when the volumetric video is to be filmed long, and the expected video quality is excessively high for action scenes in movies or capturing musical concerts. High-end volumetric video captures are accomplished in professional recording studios. Various cameras are positioned around the subjects that capture the performance from every angle and convert these shots into holograms. Some studios, such as Canon’s Volumetric Studio Kawasaki with Microsoft’s Mixed Reality Capture Studios, work with more than 100 cameras to seize the holograms. The technology is costly due to the high cost of cameras, processors, and specialized digital imaging devices.

Pre-covid-19 impact on the global Volumetric Video market

Rising investment in the AR/VR ecosystem, surging demand for the enhanced match viewing experience, increasing demand for 3D/360 degree content in the entertainment sector and proliferation of 3D content delivery devices are driving the market growth before the covid-19 outburst. Visual and 3D effects in movies and video games paved the course for advancements in photography, scanning devices, and the computational backend to manage the data acquired from these new intensive processes. Generally, these advancements have come as an outcome of building more advanced visuals for entertainment and media but have not been the objective of the field itself. The collaboration, partnership and new product launches are expected to offer lucrative opportunities to the market players over the next five years before the covid-19.

Covid-19 impact on the global Volumetric Video market

The COVID-19 pandemic has impacted the volumetric video market, and it detected a low year-on-year (YoY) growth from 2019 to 2020. This determination was reached considering the inputs from different industry experts from various stages of the volumetric video value chain (which include OEMs, suppliers, end-users, and distributors) and after conferring the financial liberations of different companies in the volumetric video market ecosystem for 2020. Travel restrictions, limited production, delayed purchases and orders, administrative delays, and disturbances in the supply chain, associated with limitations on cross-border trade, resulted in uncertainties in raw material and component consignments. Actions such as lockdowns and social distancing also influenced the operations of volumetric video hardware, software, and service providers.

Post covid-19 impact on the global Volumetric Video market

Despite the short-term outcomes of COVID-19 in 2020 and the first quarter of 2021, companies in the volumetric video market are predicting a good comeback from the last quarter of 2021. The pandemic has particularly encouraged the adoption of virtual existence and augmented reality technologies, as businesses have diverted to remote work. Overall, the global spending on AR and VR headsets, software, and services, including purchases by consumers, rose in 2020 to USD 12 billion, up 50% from 2019. AR/VR technologies have gathered up demand in medical, education, retail, and entertainment post-COVID-19. These aspects are predicted to promote the market’s growth during the forecast period.

By volumetric capture segmental analysis

The volumetric video market for hardware is expected to retain the largest size during the forecast period.” The hardware segment is foreseen to hold the largest share of the volumetric video market during the forecast period. The number of cameras operated in volumetric capture studios ranges from two to more than a hundred. The prominent factor fueling the volumetric video hardware market development is the increasing number of studios constructed by major participants for sports, filmmaking, gaming, medical, and advertisement applications. Kawasaki is among the recently opened volumetric studios like Avatar Dimension, Metaverse XR studio, Volumetric Capture Stage, Korea Immersive Studio, Jump Studio, and Volumetric Video Studio 2021 2020. Software is foreseen to retain the second-largest share of the market during the forecast period. Software is predicted to retain the second-largest share of the market during the forecast period. Software is demanded the capturing, modeling, composting, editing, compression, and playback of volumetric video. While capturing volumetric video, the StudioCap-VC software of IO Industries delivers operators authority of an entire group of Volucam cameras at once – stopping as many per-camera tasks as possible – while delivering intelligible feedback on the camera array’s status. EF EVE provides the Creator software, a volumetric video editing toolkit. The basic volumetric data collected while recording volumetric video has particular cloud noise, visual artifacts, and depth inaccuracies. Mod Tech Labs delivers AI-enabled software, which serves automated 3D mesh generation from images.

By Delivery Segmental Analysis

The volumetric video market for signage and advertisement application is expected to grow at the highest CAGR during the forecast period.” 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 videos. 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.

By Region Segmental Analysis

The volumetric video market in APAC is cast to grow at the highest CAGR during the forecast period, caused by the increasing number of innovative professional studios and the increasing adoption of volumetric video in sports, events, and entertainment and signage & advertisement applications in the APAC region. The increasing adoption of augmented existence technology in Japan, China, and South Korea also propels market growth. 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, Docomo XR Studio, Korea Immersive Studio, and Volumetric Video Studio – Kawasaki, among others.

Competitor Analysis

The companies include 8i, 8^th Wall, Google LLC, Mark Roberts Motion Control, Dimension control, Arcturus studios holdings, sony group corporation, capturing reality; Verizon communications are the prominent key players in the global volumetric video market. Key Stakeholders

• Market research and consulting firms
• Global Volumetric Videos Associations
• Technology providers
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

• In October 2021, 8i and 8th Wall debuted their integrated hologram solution, part of an event that featured the first-ever live-streamed hologram discussion in WebAR. The collaboration between 8i and 8th Wall connected the two company’s technologies and delivered an integrated end-to-end solution to capture, transform, and live volumetric stream video in WebAR.
• In May 2021, Google LLC announced the Project Starline at the Google I/O 2021. Project Starline operates high-resolution cameras and custom depth sensors to catch a user’s shape and formation from multiple viewpoints, which is fused by software to make an incredibly detailed, real-time 3D model, similar to a person sitting across. Google also created a light field display that shows the realistic presentation of someone sitting right in front of a user in 3D. Google has already expended thousands of hours attempting Project Starline in its own offices.
• In September 2020, Mark Roberts Motion Control and Dimension Studio revealed the Polymotion Stage Truck – the pinnacle of mobile volumetric video capture (3D video) technology. The Promotion Stage Truck is the world’s first 3-in-1 mobile volumetric studio on wheels. This mobile studio is created to keep the time-sensitive content creation needs of broadcasters, sports personalities, and creative agencies.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 1.5 Billion
The revenue forecast in 2027	USD 4.9 Billion
Growth Rate	CAGR of 26.9 % from 2021 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	8i, 8th Wall, Google LLC, Mark Roberts Motion Control, Dimension control, Arcturus studios holdings, sony group corporation, capturing reality, Verizon communications

Market Modelling

By Volumetric Capture

• Hardware
• Software
• Services

By Application

• Sports, Events and Entertainment
• Medical
• Education and Training
• Signage and Advertisement

By Content Delivery

• Projectors
• AV/VR Head-mounted Display (HMD)
• Smartphones
• Volumetric Displays

By Region

• North America
• Europe
• Asia Pacific
• The Middle East & Africa
• South America

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