The volumetric video market is likely to grow at a CAGR of 36.9%
NEW YORK, May 17, 2018 /PRNewswire/ -- The volumetric video market is likely to grow at a CAGR of 36.9% between 2018 and 2023
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The volumetric video market is expected to be worth USD 2,780.0 million by 2023, growing at a CAGR of 36.9% during the forecast period. Growing demand for 3D/360 content in entertainment and AR/VR applications; growing applications of volumetric technology in multiple end-user industries such as healthcare, architecture, real estate, and media and advertising are the factors driving the growth of volumetric video market. Less effective projection under sunlight would be a factor restraining the growth of the market.
Medical applications are expected to register highest growth rate in the volumetric video market during the forecast period
The demand for volumetric content is expected to grow rapidly in medical applications because of the increasing use of holograms in medical imaging by surgeons to view a specific diseased part or an organ of a body in 360-degrees. The medical field has witnessed rapid technological advancements over the years, and various kinds of advanced imaging equipment have emerged in the past. 3D/360-degree cameras can be used to generate 3D images to examine the affected body parts. Volumetric videos in medical imaging can help doctors to visualize body parts in a better manner than through conventional methods; it can also be used for training purposes in medical centers.
APAC expected to register the highest growth in the volumetric video market during the forecast period
Volumetric video market is expected to grow rapidly in APAC.With the presence of hardware manufacturers in the region, APAC witnesses an increasing adoption of latest technologies.
Education & training; medical; and sports, events, & entertainment industries are expected to contribute substantially to the growth of the volumetric video market in APAC.These industries offer huge potential for the volumetric video market because of the increasing awareness among consumers and the rising adoption of new technologies in various industries, especially in countries such as China, Japan, Australia, and New Zealand.
The increasing number of players in the region would boost the growth of the volumetric video market. 8i, Yi Halo Technology, VOXON, and Holografika are the major players in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:
• By Company Type: Tier 1 = 15%, Tier 2 = 30%, and Tier 3 = 55%
• By Designation: C-Level Executives = 40%, Directors = 35%, and Others = 25%
• By Region: North America = 50%, Europe = 30%, and APAC = 20%
Microsoft (US), Intel (US), Facebook (US), Google (US), LightSpace Technologies (Latvia), The Coretec Group (US), 8i (New Zealand), Realview Imaging (Israel), Holoxica (UK), Voxon Photonics (Australia), Unity (US), Lytro (US), Raytrix (Germany), OTOY (US), and Stereolabs (US) are among the major players in the volumetric video market.
Research Coverage:
The report estimates the market size and future growth potential of the volumetric video market across different segments such as volumetric capture, professional/non-consumer applications, and geographies. Moreover, the report includes the industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, and recent developments.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the volumetric video market comprehensively and provides the closest market sizes for the applications across different geographies.
• The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
• This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and major developments such as product launches and developments, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments in the volumetric video market.
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