$1.8+ Billion Worldwide Volumetric Video Industry to 2031 - Upsurge in the Utilisation of Augmented Reality is Expected to Propel Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Oct 28, 2022--

The "Volumetric Video Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global volumetric video market.

The global volumetric video market is expected to grow from $1.39 billion in 2021 to $1.81 billion in 2022 at a compound annual growth rate (CAGR) of 29.52%. The change in growth trend is mainly due to companies' stabilising their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $5.12 billion in 2026 at a CAGR of 29.75%.

Companies Mentioned

• Microsoft Corporation
• Intel Corporation
• 8I Ltd.
• Google
• Stereolabs
• Scatter
• Facebook
• 4D View Solutions SAS
• OTOY Inc.
• Dimension
• Mark Roberts Motion Control
• Sony Group Corporation
• Canon Inc.
• Verizon Communications
• IO Industries Inc.
• Evercoast
• DGene
• 3nfinite

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The volumetric video market consists of the sales of volumetric video technologies by entities (organizations, partnerships, and sole proprietors) that are used to digitise a three-dimensional (3D) space, such as the volume of a space, object, or environment in real-time using a number of cameras set around a target. Volumetrically captured objects, environments, and living entities can be digitised and repositioned on the mobile, web, or virtual worlds and viewed in 3D. The volumetric video allows the audience to focus on the content and, therefore, the message by mirroring the unique visual and emotional reality of the filmed actors to the audience.

The main volumetric video components include hardware, software, and services. Volumetric video hardware is used to digitise a three-dimensional space by positioning various cameras around a target.such as cameras and processing units is used to capture things that can be digitised and repositioned on the mobile, web, or virtual worlds and viewed in 3D. The different volumetric video content delivery modes include projectors, AR/VR head-mounted displays (HMD), smartphones, and volumetric displays. The various applications of volumetric video include sports and entertainment, medical, signage and advertising, and education and training.

North America was the largest region in the volumetric video market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The upsurge in the utilisation of augmented reality is expected to propel the growth of the volumetric video market. Volumetric video capture technology is an approach that digitises a three-dimensional space such as an object, volume of space, or environment in real-time using a collection of cameras set around a target. Augmented reality is successful in delivering cultural heritage applications, including exhibition data management, architectural and environmental heritage reconstruction, representation, exhibition curation, and storytelling

. For instance, according to a report by Hong Kong-based Counterpoint Research, the shipments of Virtual Reality (VR) and Augmented Reality (AR) headsets are expected to grow about 10 times to 105 million units in 2025, from 11 million units in 2021. Hence, the increasing adoption and utilisation of AR devices is expected to boost the market in the forecast period.

Technological advancement is a key trend gaining popularity in the volumetric video market. New technologies enable transparency of delivery and networked logistics paths.

For instance, in 2020, Ant Media, a US-based company that provides solutions that specialise in live video streaming, launched Spaceport. The Spaceport product creates an end-to-end solution to capture dynamic scenes and offers a three-dimensional viewing experience. In addition, the Spaceport product supports video playback on VR goggles, web browsers, and mobile devices. To estimate the exact transformation matrix, Spaceport uses advanced Robot Operating System (ROS) algorithms, the Point Cloud Library (PCL), and calibration objects, which create a high-quality point cloud for each frame.

The countries covered in the volumetric video market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

For more information about this report visit https://www.researchandmarkets.com/r/c1vkxp

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KEYWORD:

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY AUDIO/VIDEO

SOURCE: Research and Markets

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