Volumetric Video Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Volumetric Video Market Size

Volumetric Video Market Analysis

Services Sector to Experience Fastest Growth Rate

The services category will witness the fastest growth during the forecast period, with a CAGR of 30.0%. This can be ascribed to the increasing number of vendors providing streaming, sharing, and cloud services, growing consumer preference for advanced technologies for creating 3D video content, and burgeoning video production industry.

The hardware category contributes significant revenue to the market as well, as volumetric video creation involves an extensive number of sensors, motion detectors, cameras, and other devices. Additionally, the growing number of video capture studios and increasing product availability aid in the progress of the market in this category.

The software category will also witness substantial growth in the coming years, because several technology companies are providing users with convenient solutions. In addition, this software integrates with augmented reality (AR), virtual reality (VR), and mixed reality (MR) platforms, which enhances users’ experience. Moreover, the wide usage of such software to capture volumetric video by integrating data from depth sensors, multiple cameras, and other devices, to create 3D representation of the subject, drives the market.

Advertisement Industry Offers Opportunities to Market Players

Volumetric videos are widely used for marketing products, as advertisements made with this technology are more attention-grabbing. Nowadays, consumers do not interact with traditional forms of advertising, such as out of home (OOH) advertisements or social media marketing, in the same way as with volumetric video. Holding the attention of customers has become a challenge for brands. For this, volumetric video offers a visually striking medium that can captivate consumers, making them more likely to engage with the advertised product.

For example, in July 2020, Samsung Electronics launched a limited-edition smartphone, named Samsung Galaxy S20 FE 5G BTS, under collaboration with another South Korean band BTS. The company created a series of BTS AR emojis enabled with the volumetric capture technology to develop 3D representations of band players. Those emojis are naturally realistic as well as more expressive than traditional 2D emojis and, therefore, grab the attention of fans more quickly.

Volumetric video has a big effect on the advertising sector as it offers an extremely interactive and immersive experience, which attracts bored and uninterested customers as well. Viewers feel involved and excited as they move around and interact with the 3D representation, something that traditional advertising forms could never achieve. This heightened engagement aims to make an unforgettable impression of the brand or product being advertised, and thus, viewers take action. Hence, volumetric video could become an important tool for any brand that wants to improve engagement and build a stronger relationship with its audience.

Medical Category Contributes Significantly to Market

The medical category accounts for a significant revenue share in 2023 due to the burgeoning application of this technology to see clear images of internal organs with a 360-degree view, by creating holograms. In this regard, the high R&D spending by public and private firms to develop enhanced diagnostic imaging technologies for better patient outcomes propels the market. This technology is also widely used in medical institutions for the training of students. Therefore, the growing number of clinics, medical centers, and multispecialty hospitals across the globe and the rising count of surgeries contribute to the category’s growth.

Furthermore, the signage & advertisement category will register significant growth in the coming years. This can be attributed to the burgeoning signage & advertisement industry because of the growing popularity of retail e-commerce platforms, which thrive on effective advertisements; and evolving marketing strategies of retailers and major brands across the globe. This technology is widely used in signage and advertising to develop engaging, creative, and more-attractive advertisements that people prefer to watch.

Volumetric Displays Will Register Fastest Growth

Volumetric displays will witness the fastest growth during the prediction period, with a CAGR of 30.2%. This is due to the ongoing technological advancements to provide improved features and resolutions in 3D displays, mounting developments in optics, lasers, and electronics, and the fact that such displays enable more than one viewer to look at the image at the same time from different perspectives, without any specified eyewear.

Furthermore, AR/VR HMDs account for a significant revenue contribution in 2023. This can be attributed to the easy availability of AR/VR gadgets, their growing usage for gaming and entertainment purposes, with the rising standard of living; and the burgeoning demand of consumers for real-world views on HMDs.

Additionally, smartphones are also in wide use for accessing volumetric videos, owing to the increasing number of smartphone owners across the world, high internet penetration rate, and mounting popularity of OTT and other platforms that support this technology.

Rising Demand for 360-Degree Video Content Technology in Entertainment Sector

360-degree video is an engaging as well as immersive content technology, which enables viewers to move the display at any angle, to look at images with different perspectives. Owing to viewers’ rising preference for watching motion pictures according to their convenience, the demand for 360-degree video as well as 3D content is expected to rise in the coming years. Moreover, numerous industry players are launching such video software and hardware tools for viewers’ convenience.

Moreover, several streaming platforms offer 360-degree video content, including VPlayed, Flowplayer, Kaltura, and Vimeo OTT. Their popularity continues to rise with the high consumer preference for viewing immersive content.

Geographical Analysis

North America accounts for the largest revenue share, of 55%, in 2023, and it is further expected to maintain its dominance during the forecast period. This can be ascribed to the high rate of adoption of advanced technologies such as AR, VR, as well as MR; presence of a large number of industry players, and rising need for attractive signage and advertisements.
Furthermore,

• The mounting need of sports broadcasters to enhance live coverage in the region raises the demand for the technology.
• The mounting traction for sporting events and the burgeoning demand for an enhanced match viewing experience are boosting industry players to innovate and develop products that provide to spectator preferences. For instance, ESPN has experimented with a new broadcasting format to offer more-immersive viewing experiences for NBA fans.
• The U.S. is the prime revenue contributor to the regional market, owing to the presence of international players, rapid adoption of advanced technologies including virtual reality, augmented reality, and 3D printing; government policies supporting sports activities, and increase in the number of marketing campaigns by major brands with the use of such technology.

APAC will witness the highest growth rate in the prediction period, attributed to the massive consumer base for all industries, rapid urbanization, rising disposable income and standard of living of people, surging demand for the improved sports viewing experiences, and mounting volume of specialized image-guided surgical procedures. Additionally, China, Japan, and South Korea contribute the majority of the revenue to the market, owing to their massive gaming and entertainment industry, high internet penetration rate, and burgeoning count of volumetric video capture studios.
Moreover,

• These videos are rapidly gaining popularity in the sports, media, and entertainment sectors. Further, numerous tech companies have introduced volumetric VR studios to enhance the viewer experience, which results in the strong focus of participants to compete in the regional market.
• The signage & advertisement industry is growing in developing nations and progressively employing volumetric video to create immersive experiences for people.
• China generates remarkable revenue owing to the rising economic activities, strong consumer base for technologically advanced gadgets, and presence of a massive gaming industry.

Market Breakdown

This fully customizable report gives a detailed analysis of the volumetric video industry, based on all the relevant segments and geographies.

Based on Offering

• Hardware 
• Software 
• Services 

Based on Vertical 

• Sports, Events, & Entertainment 
• Medical 
• Signage & Advertisement 
• Education & Training 

Based on Platform

• Projectors 
• AR/VR HMDs 
• Smartphones 
• Volumetric Displays 

Geographical Analysis

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E

Top Volumetric Video Companies