Volumetric Video Market to 2027 - Global Analysis and Forecasts by Volumetric Capture (Hardware, Software, and Services); Application (Sports Events and Entertainment, Medical, Signage and Advertisement, Education and Training, and Others)
The volumetric video market was valued at US$ 1,424.3 million in 2019 and is projected to reach US$ 8,471.0 million by 2027; it is expected to grow at a CAGR of 25.2% from 2020 to 2027.
Volumetric video captures the act or scene from several standpoints and then the captured information is used for creating a depth map of the recorded video. For instance, each Manifold is capable of capturing every direction from the system with the use of at least four sensors, or seven sensors in most places. Further, different software are used to give required effect to the video. Several players have also established their volumetric video studios to offer services to their clients as per their requirements, which can be custom-made.
The volumetric video technology with multiple cameras captures images of real persons and at the same time creates naturally moving dynamic 3D models, which are able to be arbitrary viewpoints in a virtual scene. The use of volumetric video, especially in events, sports, and entertainment, is encouraging the growth of the volumetric video market. Applications including signage, medical, and advertisement, and education & training mostly use volumetric video technology.
APAC is projected to grow at a very high pace in the volumetric video market during the forecast period. Volumetric video applications in Asian economies are expected to boom at an exponential rate owing to the increasing number of professional creative studios. Also, the volumetric video market players are focusing on launching new solutions to create volumetric videos; for instance, in November 2019, Voxon Photonics (Australia) launched the VX1 hologram table, which creates interactive 3D images that appear to be floating in the air, above a table in front of a group of people who can view these 3D images without any visual aids.
Impact of Covid-19 on Volumetric Video Market:
The 2019-20 COVID-19 (coronavirus) pandemic had a major impact on society, public health, and the economy as a whole. Further, it has also caused chaos to the sporting calendar. In an attempt to stop the spread of the virus, several professional as well as amateur leagues across all regions and sports took the extraordinary step to suspend or postpone their sports events on the instruction of the Centers for Disease Control and Prevention to avoid gatherings of huge numbers of people. For instance, Union of European Football Associations announced to postpone the ‘Euro 2020’ tournament to 2021. Other events such as Chinese football’s Super League, Indian Wells tournament (US), French Open, Indian Premier League, and Formula 1, among others, are either postponed or cancelled. Postponed or cancelled events might result in a decline in revenues for the players operating in volumetric video market.
Lucrative Regional Volumetric Video Market
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Market Insights
Growing Demand for Enhanced Sports Viewing Experience is propelling the growth of volumetric video market
The television is capable of displaying a sports event video only from the angle in which the camera offers. However, it does not display the entire view of the stadium in 360° angle. There have been various improvements in camera technology, with the incorporation of advanced lenses while shooting sports events. As advancement, around 38 small sized 5K cameras are installed around the stadium to capture the entire field of play. These cameras help generate massive amount of volumetric data (voxels), by capturing a broad width, height, and depth of the subject. The camera array is connected by fiber to the on-site the servers, from where the entire data is stored and processed. This set up around the stadium facilitates enhanced viewing experience, providing the advantage to view from 360° angle. Various volumetric video market players are collaborating with sports clubs to offer advanced technologies to the customers, considering the emerging demand for volumetric video in the sports and entertainment sectors. For instance, in February 2019, Intel collaborated with the football clubs, including Liverpool FC, Manchester City, and Arsenal FC, to provide immersive match viewing experience to the viewers. Intel used its new technology that is able to capture actors, players, and objects in volumetric 3-D, from which viewers can see things from a nearly several number of angles. Thus, to increasing demand for enhanced content along with increasing competition among broadcasters is bolstering the growth of volumetric video market.
Volumetric Capture Insights
In volumetric capture segment, hardware captured the largest share in the global volumetric video market. Volumetric video is the procedure which captures the object/location regardless whether it’s a 2D or 3D object or static or moving. Further, for moving 3D objects, it involves motion sensing techniques and for static, it is captured through imaging. Imaging of 2D or a 3D object is performed by utilizing in-depth sensors that can be directly positioned at the object or it can be scanned through 360 degree cameras. Mesh based as well as point based scanning is broadly used for detailed 3D images, mainly in video games for offering a real-time imaging to the character. Additionally, in-depth sensors as well as 360 degree camera view are processed in a computing engine for application of AR/VR or other client based applications, i.e. sports, entertainment and others. Further, the services segment is anticipated to witness the highest CAGR in the volumetric video market.
Global Volumetric video Market, by Type – 2019 & 2027
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Application Insights
The volumetric video market, by application, is segmented into sports events and entertainment, medical, signage and advertisement, education and training, and others. The sports, events and entertainment segment captured dominating share in the global volumetric video market. The use of volumetric videos is gaining traction in diverse applications and is expected to substitute the standard streaming & recording over a period of time. It has a huge demand in the gaming and filmmaking industry and its application in the medical fields are anticipated to multiply. Further, volumetric video content for the live streaming sports event as well as entertainment is expected to play a dominating role in the coming years. The increasing applications of volumetric videos is anticipated to drive the growth of volumetric video market globally.
Strategic Insights
Several other players operating in the volumetric volume market are also taking initiatives such as construction of new volumetric video studios, which is driving the demand for the volumetric videos. Some of the recent key developments are mentioned below. Few of the recent acquisitions are listed below;
2019: Intel partnered with Manchester City, Arsenal FC, and Liverpool FC to deliver immersive experiences at the Emirates Stadium, Anfield, well as the Etihad Stadium through Intel’s True View, which transforms volumetric video data into immersive 3D replays.
2018: VoluCap unveiled a volumetric video capture studio located in Berlin.
2018: Intel unveiled an advanced studio precisely for the production of large-scale, volumetric content for immersive media
Volumetric Video Market – By Type
- Hardware
- Software
- Services
Volumetric Video Market – By Application
- Sports Events and Entertainment
- Medical
- Signage and Advertisement
- Education and Training
- Others
Global Volumetric Video Market by Region
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
Companies Profiles
- Holoxica
- Scatter
- The Coretec Group, Inc.
- VOSTOK VR
- Voxon Photonics
- 4D View Solution SAS
- Dimension
- Microsoft Corporation
- Intel Corporation
- RealView Imaging Ltd
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- The key findings and recommendations highlight crucial progressive industry trends in the global volumetric video market, thereby allowing players across the value chain to develop effective long-term strategies
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
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Frequently Asked Questions
The North America region constitutes developed economies including, US Canada, and Mexico. Across North America, technological advancements have led to a highly competitive market. North America region attracts several technological developments, which consist of economically robust countries. The region has a leverage of continuous technological developments. Growth in technologies assist in stimulating the business of other industries. The sports industry is the region is at the peak. The interest of viewers for 360-degree videos in sports & entertainment is anticipated to accelerate the business of volumetric video in North America. The US is a biggest market for sports in the territory so far and starting from live sporting events to media sponsorships, the sports industry is booming. ESPN is one of a major sports channels in the region for broadcasting various sports such as football, baseball, and soccer championships. As ESPN holds a significant share in the region, need to update their existing technologies to deliver better experience to the viewers is necessary.
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. For instance, in September 2018, Simile Inc launched Depthkit solution, a creative software tool for capturing volumetric video. Such developments and urge to deliver a better viewing experience, would assist in up surging the adoption of volumetric video.
The sports events and entertainment segment led the volumetric video market. Key players operating in the market such as Google, Microsoft, Intel, and Facebook have made many product developments, precisely for sports and entertainment applications. For instance, in 2017, Microsoft partnered with Hammerhead and developed Dimension, a volumetric studio. Also, Intel developed a filmmaking studio and partnered with Turner Sports for offering its volumetric capture technology. Moreover, in 2018, MR Museum in Kyoto partnered with Hakuhodo-VRAR to create a volumetric video for its visitors to display the artwork of the Zen temple located in Japan narrated by a Zen monk. Furthermore, in 2019, Intel joined forces with the National Football League (NFL) to provide immersive highlights through Intel’s True View to the Super Bowl LIII in Mercedes-Benz Stadium in Atlanta. Such developments are anticipated to offer a push to the sports, events, and entertainment applications.