Volumetric Video Market Size, Share & Trends Analysis Report By Volumetric Capture (Hardware, Software, Services), By Delivery Platforms, By Application, By Region, And Segment Forecasts, 2023 - 2030

Volumetric Video Market Size & Trends

The global volumetric video market size was valued at USD 2.02 billion in 2022 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 26.8% from 2023 to 2030. The volumetric video market possesses substantial untapped potential, specifically in teleconferencing and 5G technology. The introduction of 5G technology brings with it the benefits of minimal latency and high-speed bandwidth, thereby enabling the seamless transmission of volumetric video content.

Furthermore, the market is poised to exploit the expanding array of applications for volumetric videos, such as advanced medical imaging and image-guided surgery, which offer promising avenues for growth. Nonetheless, challenges persist, encompassing the requirement for intricate software solutions for image processing and the absence of standardized approaches in 3D content creation.

Addressing the obstacles, industry stakeholders are increasingly turning to collaborative partnerships, product advancements, technological innovations, and prototyping as widely embraced strategies. Both emerging startups and well-established industry leaders are actively involved in research and development endeavors related to volumetric video technology, thereby contributing to the market's growth prospects in the projected period. Moreover, expansions and acquisitions represent prominent strategies employed by market participants to augment their market presence and expand their offerings.

Volumetric Capture Insights

Based on volumetric capture, the market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2022. Sustained innovation and technological progress aimed at offering improved resolutions and features in 3D display technologies are expected to fuel market growth in the coming years. The persistent advancements in laser, optical, and electronic technologies have given rise to volumetric displays, which allow numerous viewers to simultaneously observe an image from various angles without the necessity for specialized eyewear devices.

Application Insights

Based on the application, the market is segmented into sports, events & entertainment, education & training, medical signage & advertisement, and others. The signage & advertisement segment is expected to hold a significant market share over the forecast period. Volumetric video stands out as a revolutionary technology, reshaping the signage and advertising market. This innovative technology empowers advertisers to seamlessly integrate captivating and interactive visuals into various signage and advertising platforms. Through volumetric video, brands now have the capability to present their products and services more engagingly and dynamically, effectively capturing the attention of potential customers.

Delivery Platforms Insights

Based on delivery platforms, the market is segmented into projectors, AR/VR/HMDs, smartphones, and volumetric displays. The AR/VR/HMDs segment held the largest market share in 2022. The surge in popularity of AR/VR headsets can be attributed to their crucial role in delivering immersive and interactive volumetric video experiences. These devices enable users to engage with volumetric content in an exceptionally realistic and immersive manner. As AR and VR technologies advance, an increasing number of individuals are embracing AR/VR head-mounted displays (HMDs) due to their growing sophistication, enhanced portability, and improved accessibility.

Regional Insights

North America dominated with the largest market share in 2022. The Asia Pacific region is witnessing significant progress in the adoption and utilization of volumetric video technology, ushering in substantial benefits for various industries. With its vast population and rapidly expanding economies, this region has become a hub for technological innovation, and volumetric video is no exception to this trend. In the Asia Pacific, countries are harnessing this advanced technology to elevate their signage and advertising sectors.

Competitive Insights

Key players operating in the market are 4Dviews, 8i, Stereolabs Inc., Intel Corporation, Unity Technologies, Google LLC, IO Industries Inc., Canon Inc., Microsoft Corporation, and Verizon Communications. Vendors active in the market are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including mergers & acquisitions, partnerships, collaborations, and new product/ technology development. The following are some instances of such initiatives:

• In January 2023, Unity Technologies and Google LLC announced a collaboration within their respective ecosystems aimed at assisting studios in expediting the growth and advancement of live games. The partnership between Unity Technologies, a renowned platform for the creation and enhancement of real-time 3D (RT3D) content, and Google LLC is geared towards streamlining the process for developers to craft multiplayer experiences.

• In August 2022, Unity Technologies collaborated with Mercedes-Benz Group AG. The Unity Technologies engine is set to serve as the driving force behind the infotainment segment of the Mercedes-Benz operating system. This innovative integration is scheduled for deployment in the initial vehicle models starting in 2024. Mercedes-Benz leverages Unity Industrial Collection to craft the user interface (UI) for the in-car cockpit, encompassing a wide range of applications.