Volumetric Video Market Worth $5.8 Billion by 2025 - Exclusive Report by MarketsandMarkets™
Feb 24, 2020, 07:30 ET
CHICAGO, Feb. 24, 2020 /PRNewswire/ -- According to the new market research report "Volumetric Video Market by Volumetric Capture (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports, Events and Entertainment, Medical, Signage, Education & Training), & Content Delivery and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Volumetric Video Market is estimated to grow from USD 1.4 billion in 2020 to USD 5.8 billion by 2025, at a CAGR of 32.8% between 2020 and 2025. Increasing applications of volumetric technology in several end-user industries coupled with a surge in demand for enhanced match viewing experience is the major factor driving the growth of the market.
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"Hardware is the most attractive segment that is gaining attention in the volumetric video industry."
The hardware segment is expected to dominate the global volumetric video market by 2025. The use of 360° (6DOF) cameras for sports, events, and entertainment and medical applications is gradually increasing; these cameras provide superior picture quality and videos to end-users. Companies such as Facebook, Google, Intel, and Raytrix have introduced various cameras based on 6DOF volumetric capture and depth-sensing technology. This is fueling the growth of the volumetric video market for hardware.
"Volumetric video market in APAC expected to grow at the highest CAGR during the forecast period. "
The volumetric video market in APAC is sub-segmented into China, Japan, South Korea, Australia & New Zealand, and the Rest of APAC. APAC is expected to be the fastest-growing market for volumetric video during the forecast period. China and Japan represent the majority of the demand for volumetric video solutions in the region owing to the growing interest of consumers in realistic 3D imaging systems. Volumetric video extends far beyond its common usage in pop concerts and other forms of entertainment. It has a wide range of diverse applications and is being used actively to improve many applications in industries such as medical and sports.
The volumetric video market is dominated by Microsoft Corporation (Microsoft) (US); Intel Corporation (Intel) (US); Facebook, Inc. (Facebook) (US); Google LLC (Google) (US); and 4D View Solutions SAS (4D Views) (France).
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Other major players in the market are Holoxica Ltd (Holoxica) (UK); LightSpace Technologies, SIA (LightSpace Technologies) (Latvia), The Coretec Group Inc. (The Coretec Group) (US); 8i Ltd. (8i) (New Zealand); RealView Imaging Ltd. (RealView Imaging) (Israel); Voxon Photonics (Voxon Photonics) (Australia); Unity Technologies (Unity) (US); IO Industries Inc. (IO Industries) (Ontario), Stereolabs (Stereolabs) (US): Raytrix GmbH (Raytrix) (Germany); OTOY Inc. (OTOY) (US); Samsung Electronics America Inc. (Samsung Electronics America) (US); MRMC (Mark Roberts Motion Control) (UK); Sony Pictures Digital Productions Inc. (Sony Pictures Digital Productions Inc.) (US); Verizon Wireless (Verizon) (US); Canon Inc. (Canon) (Tokyo).
Key innovators include HypeVR (HypeVR) (US); Scatter (Scatter) (US); VividQ (VividQ) (UK); and Hammerhead VR (Hammerhead) (UK). Evercoast (Evercoast) (US); HoloCap (HoloCap) (US); HOLOOH - DOORWAY SAS (HOLOOH) (France); Volograms Limited. (Volograms) (Dublin); Volucap (Volucap) (Germany); Humense PTY LTD (Humense PTY LTD) (Australia); DoubleMe, Inc. (DoubleMe) (US); EF EVE (EF EVE) (London); Magic Leap, Inc. (Magic Leap) (US). Fraunhofer HHI (Germany) is a leading research institute involved in the research on volumetric video technology.
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