Infinium Global Research’s recent report on the “Volumetric Video Market (By Component (Software, Hardware, Services), By Applications (Healthcare, Signage and Advertisement, Education and Training, Events, and Entertainment, Sports, Others)): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2030” provides a comprehensive outline of the factors responsible for the growth of the market.
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Volumetric video is the process of capturing a real 3D performance or location in AR or VR and then viewing it from any angle, resulting in very immersive, realistic, and interactive 3D entertainment. It can also be transported to a mobile device, a virtual environment, or the internet. LiDAR, photogrammetry, multi-view/stereoscopic camera arrays, and RGB-D/laser sensors are among the technology and software used to capture and distribute volumetric video. Volumetric video can be captured in three different ways: High-End Volumetric Video Capture, Sensor-based Volumetric Video Capture, and Mobile Device Capture.
Over 360-degree video or picture, volumetric video has various advantages, including in-depth information about the obtained picture or video. The market is driven by the growing adoption of AR and VR in industries around the world. Also, the growing applications of volumetric video are supporting the growth of the market. Several other factors such as growth in the number of content delivery devices such as mobiles and projectors have also expanded the scope of the market. New opportunities are expected to arise as 5G rollout around the world is growing rapidly which will be instrumental for the volumetric video market.
The covid-19 epidemic did not help the market for Volumetric Video. The pandemic forced the closure of volumetric video capture studios, which had a severe impact on the industry. Furthermore, due to the implementation of covid-19-related physical constraints, getting to these studios was difficult. Demand from end-user industries including sports, entertainment, and advertising fell dramatically as these industries grappled with the pandemic's issues. The delivery of devices required for volumetric video capture was hampered by supply chain problems. During the epidemic, volumetric video content distribution became difficult. Despite the fact that the covid-19 pandemic was not particularly advantageous to the market, demand is projected to surge again as the world recovers swiftly from the pandemic.
Sports to Dominate the Application of the Volumetric Video Market
The sports sub-segment is expected to dominate the Application segment of the market. The sports sub-segment held the largest share of the Application segment in 2020. The sports industry earns a considerable part of its revenue from live streaming and broadcasting of sporting events. Thus, offering the definitive, immersive, and clear broadcasting of sporting events over television and streaming platforms becomes critically important. To offer a vivid and eye popping viewing experience sports industry is actively adopting volumetric video technology. Combined with the high definition cameras volumetric video is proving to be a game changer for the industry. Now every minute detail of the game from every possible angle is captured dynamically. Medical and entertainment fields are also expected to be revolutionized by the adoption of volumetric video.
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North America to Be the Dominant Region in the Volumetric Video Market
North America generated the highest revenue in the Volumetric Video market in 2020 and is expected to continue its dominance over the forecast years. The medical, entertainment, sports, and gaming industries are well-established in North America. These end-user sectors are continually adopting new technologies to improve themselves, such as augmented reality (AR/VR) and volumetric video. The infrastructure and experienced manpower required for the volumetric video business are also present in North America. Volumetric video capture studios are becoming more popular, and they use cutting-edge technology and hire highly skilled workers from all over the world.
Volumetric video capture studios are expanding their operations and developing new studios at a rapid rate across the region to support their future ambitions, owing to the growing uses of volumetric video and a rise in demand from the industries. Furthermore, the market's expansion has been ensured by the availability of supporting technology. The region is home to companies including Meta Platforms, Inc., Google LLC, and Microsoft Corporation. In North America, these market competitors are introducing the latest volumetric video technologies.
Major Players Operating in the Volumetric Video Market are Focusing on Launching New Studios
The market for Volumetric Video is still in its growth stage. Relatively the volumetric video technology is still evolving and its applications are being explored. The nascent stage of volumetric video technology hasn’t restricted the growth of the market. There is number of market players major and start-ups that are investing heavily in volumetric video hoping for good returns.
The major players in the market include Meta Platforms, Inc., Lightspace Technologies, Google LLC, Microsoft Corporation, Intel Corporation, and Others. In September 2020, Avatar Dimension a new volumetric capture studio was launched in the USA. Infinium Global Research’s recent report on the Global Volumetric Video Market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments on the global market.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of volumetric video.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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