North America Volumetric Video Market Outlook and Strategic Insights by 2028

The volumetric video market in North America is expected to grow from US$ 984.32 million in 2021 to US$ 4,609.32 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Entertainment sector raising demand for 360° video content technology is the major factor driving the growth of the North America instrument calibrator market. The 360° video is an immersive and engaging type of video content technology, this technology permits the viewers to move the display according to which the viewer can view the video from any desired angle. Although, the evolution of immersive media is progressing over last 50 years; it has picked up the pace during the recent years considering the growth and development of platform and technology as well as the evolution of hardware devices. Moreover, the support of high bandwidth has enabled the use of new 3D media including 360° VR video applications and 3D immersion. Owing to the increased viewer’s convenience of watching the video from different possible angles, the demand for 360° video is expected increase during the forecast period. Further, it facilitates to move the display according to viewers requirement, at any time while watching a sequence, was popularized in computer games and has gained wider popularity with the invention of Virtual Reality headsets such as Google Cardboard and Oculus Rift. Also, various players in the market are focused on introducing volumetric video software tool for the user convenience.

The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in the US. The economic growth was slowed, which directly impacted various trading activities across the region. By the end of 2020, the US witnessed 140,000 job losses, and unemployment rate stood at 6.7%, clearly indicating that the economy was faltering. One of the biggest impacts of COVID-19 on the B2B industry was the cancellations of in-person meetings and training. eMarketer highlights, a survey from Demand Gen Report in 2020, stated that almost 53% of US B2B marketers see trade shows, training, and in-person meetings as an effective approach to form communication. Further, limited workforce strength, owing to the imposition of strict containment measures, led to rise of online meetings through platforms such as Zoom, Google Meet, and Cisco. Thus, volumetric video is emerged an effective solution for virtual training for many big and small companies. Decreased demand in sectors such as tourism, signage and advertisement, Video streaming and Alternate realities, and Medical hampered the market growth in North America for year 2020. However, post-pandemic, The volumetric video market is anticipated to see a promising growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America volumetric video market. The North America volumetric video market is expected to grow at a good CAGR during the forecast period.

North America Volumetric Video Market Segmentation

North America Volumetric Video Market – By Volumetric Capture

• Hardware

• Camera Units
• Processing Units
• Networking Units

• Solution
• Services

North America Volumetric Video Market – By Application

• Sports Events and Entertainment
• Medical
• Signage and Advertisement
• E-commerce
• Video games and eSports
• Training
• Education
• Video streaming and Alternate realities
• Others

North America Volumetric Video Market, by Country

• US
• Canada
• Mexico

North America Volumetric Video Market - Companies Mentioned

• 8i
• Arcturus Studios Holdings, Inc.
• Canon Inc.
• DGene Inc
• Dimension
• Evercoast
• Magic Leap, Inc.
• Microsoft Corporation
• Omnivor
• Sony Corporation
• StoryFile
• Tetavi
• VOLUMETRIC CAMERA SYSTEMS

North America Volumetric Video Report Scope