Volumetric Video Market Share and Size Analysis 2021-2028

The volumetric video market is expected to grow from US$ 1,898.7 million in 2021 to US$ 9,685.7 million by 2028; it is estimated to grow at a CAGR of 26.2% from 2021 to 2028.

Integration of augmented reality (AR) in marketing aims at building better consumer relationships, boosting sales, and adding value to customer experience. AR is an innovative tool that allows marketing brands to interact with buyers on their mobile devices. It creates a new digital experience, which improves the relationship between consumers and marketing brands (online and offline). In 2021, Wikitude estimated that 32% of customers are regular users of AR, and 73% of smartphone AR users are highly content with the interactive visual experiences. These AR retail statistics prove that the global market has accepted the advanced AR technology.

E-commerce has always been a vast and fast-growing sector, even before the emergence of the COVID-19 pandemic. According to an article published by the Arsenal, in 2019, the e-commerce sector generated US$ 365 billion in revenue in the US; it grew by 15% in 2020. Arsenal’s May 2021 article states that the implementation of lockdowns across the globe due to the pandemic increased the online purchases of essential goods by 108%. In the e-commerce industry, several e-commerce businesses are introducing new AR technology. For instance, Apple’s ARKit 4 makes AR and 3D models available to every iPhone user through its native internet browser. As a result, Apple users can explore any website which offers AR and experience their products projected onto their physical environment without downloading any additional applications. Therefore, the use of AR technology is growing in the e-commerce industry.

With the rise in AR technology in retail and e-commerce, the demand for volumetric video has increased due to the use of 3D holograms for purchasing a product online. Video content is proven to increase traffic on e-commerce or online retail websites and help customers buy the right products. In April 2021, Arcturus and ANAYI (Japanese clothing brand) highlighted its new spring and summer collection 2021 by releasing 19 original volumetric videos. Through this, customers can select a video from their desktop using any browser and view a model in motion from any angle, including a close-up to see how the fabric would drape and move with the wearer. Potential customers can also tap the 3D hologram button or scan a QR code on their mobile device to place a 3D hologram of the model in their room using web-based AR. Therefore, the increasing demand for AR technology in retail and e-commerce is driving the global volumetric video market

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Volumetric Video Market: Strategic Insights

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Impact of COVID-19 Pandemic on Global Volumetric Video Market

The demand for digital marketing solutions was hampered due to various containment measures, such as business shutdowns, lockdowns, and travel limitations, leading to a decline in the adoption of volumetric video. Thus, there was an adverse impact on the volumetric video market in the first half of 2020. However, the business activities have rapidly recovered from the last quarter of 2020. The volumetric video market players are expecting steady growth in the demand from enterprises.

Centers for Disease Control and Prevention instructed several professional and amateur leagues and sports events to suspend or postpone their sports events to avoid huge gatherings and reduce the spread of SARS-CoV-2. The Union of European Football Associations announced to postpone the ‘Euro 2020’ tournament to 2021. Postponed or canceled events, such as the Chinese Super League, the Indian Wells Open (US), the French Open, the Indian Premier League, and Formula 1, led to a decline in revenues for the players operating in the volumetric video market. However, the importance of volumetric video has risen due to COVID-19 pandemic, which will enhance the volumetric video market growth during the forecast period. The growing focus on virtualization is expected to boost the market growth in 2022. Therefore, the pandemic positively impacted the volumetric video market.

Volumetric Video Market Insights

Growing Demand for 360° Video Content Technology in Entertainment Sector

360° video is an immersive and engaging video content technology that allows the viewers to move the video display at any desired angle. Due to the increased viewer’s convenience of watching the video from different potential angles, the demand for 360° video is expected to increase during the forecast period. Also, various players in the volumetric video market are focused on introducing volumetric video software tool for the user convenience. In September 2018, Simile Inc launched Depthkit solution, a creative software tool for capturing volumetric video.

Various major video streaming platforms across the globe are launching their 360° video platform to enhance the viewing experience of the viewers. For instance, 4DREPLAY (a 4D unique video solution technology provider) released its new media drama series (Dangerous Couples) made using 4DReplay, a 360-degree video technology. This technology was used for the first time in the history of Korean new media platform dramas, as per the article published by the PR Newswire Association LLC in November 2021. Thus, the demand to create 360° video content is increasing in the entertainment sector, which, in turn, is driving the growth of the global volumetric video market.

Volumetric Capture - Based Market Insights

Based on volumetric capture, the volumetric video market is segmented into hardware, software, and services. In 2021, the hardware segment led the volumetric video market, accounting for the largest share in the volumetric video market.

Application-Based Market Insights

Based on application, the volumetric video market is segmented into sports events and entertainment, medical, signage and advertisement, e-commerce, video games and esports, training, education, video streaming and alternate realities, tourism, and others. In 2021, the sports events and entertainment segment accounted for the largest market share.

The players operating in the volumetric video market adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the volumetric video market. A few developments by key players are listed below:

• In August 2019, Tino Kamal, a London-based rapper, launched a music video for his single "V.I.P." that featured volumetric video filmed with Microsoft Mixed Reality Capture technology at Dimension Studios. It is one of the three studios utilizing the technology, along with Metastage in Los Angeles and the Mixed Reality Academies in San Francisco and Redmond, Washington.

• In August 2018, Microsoft Mixed Reality Capture Studios in Redmond, Washington, San Francisco, and London. The new studio is a partnership with Metastage, a new Los Angeles-based mixed reality production company headed by VR producer Christina Heller. Mixed Reality Capture Studio, a collaboration with local production studio Dimension, partnered with Metastage to become Microsoft's first US partnership to launch such a studio.

Volumetric Video Market Regional Insights

The regional trends and factors influencing the Volumetric Video Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Volumetric Video Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Volumetric Video Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Volumetric Video Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Volumetric Video Market are:

1. 4Dviews
2. Microsoft Corporation
3. Sense of Space
4. Tetavi
5. DGene Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Company Profiles

• 4Dviews
• Microsoft Corporation
• Sense of Space
• Tetavi
• DGene Inc
• Omnivor
• Arcturus Studios Holdings, Inc.
• Evercoast
• 8i
• mantis vision ltd.
• Dimension
• Canon Inc.
• Sony Corporation
• StoryFile
• Imverse SA
• VOLUMETRIC CAMERA SYSTEMS
• HoloCap
• Volucap
• EF EVE
• Magic Leap, Inc.
• KDDI Research, Inc.