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Global Volumetric Video Market 2018-2023DUBLIN, May 21, 2018 /PRNewswire/ -- The "Volumetric Video Market by Volumetric Capture & Content Creation (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports & Entertainment, Medical, Signage, Education & Training), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering The global volumetric video market is estimated to grow from USD 578.3 Million in 2018 to USD 2,780.0 Million by 2023, at a CAGR of 36.9% between 2018 and 2023. The market is evaluated on the basis of professional applications. The volumetric video market is segmented on the basis of volumetric capture into hardware, software, and services. The hardware segment includes 360-degree cameras, depth sensor units, and processing units. Software includes the photogrammetry software used for volumetric capture. The services include cloud services, streaming, and share. Major factors driving the growth of the market are the growing applications of volumetric technology in several end-user industries; increasing demand for 3D/360-degree content in entertainment and AR/VR applications; and rising availability of content creation hardware from different sources. Less effective projection under sunlight acts as major restraint to the market. The value chain of the volumetric video market comprises product development, volumetric capture or content creation, content delivery, and end-user applications. The volumetric video market based on professional/non-consumer application is divided into sports, events, & entertainment; medical; education & training; signage & advertisement; and others. The increasingly keen interest by technological heavyweights such as Microsoft, Intel, Facebook, and Google is expected to result in a faster adoption of volumetric video technology in these applications. Microsoft and Intel focus on the whole volumetric capture part as they have constructed their individual studios for filmmaking and gaming, whereas companies such as Facebook and Google provide camera units. Growing demand for volumetric video technology in events and creative advertisement and need for advanced medical imaging and image-guided surgery may offer a tremendous growth opportunity for the volumetric video market. The growth of the market is confronted by major challenges such as requirement of various type of components and software analysis, and distributed value chain; and lack of standardization in 3D content creation. The volumetric video market has witnessed mergers and acquisitions (M&A); partnerships; and product, technology, and prototype developments as the most active strategies. Numerous start-ups, industry giants, and a few research institutes have also taken up research into volumetric video technology that would help in the growth of the volumetric video market during the forecast period.
The sports, events, & entertainment application is expected to dominate the volumetric video market between 2018 and 2023. Major players have made several developments in their products specific to sports and entertainment applications. Microsoft has developed volumetric studio named Dimension in partnership with Hammerhead; Intel developed studio for filmmaking and also partnered with Turner sports for providing their volumetric capture technology. Volumetric video market is expected to grow fastest in APAC. With the presence of hardware manufacturers in the region, APAC witnesses an increasing adoption of latest technologies. Education & training; medical; and sports, events, & entertainment industries are expected to contribute substantially to the growth of the volumetric video market in APAC. These industries offer huge potential for the volumetric video market because of the increasing awareness among consumers and the rising adoption of new technologies in various industries, especially in countries such as China, Japan, Australia, and New Zealand. The increasing number of players in the region would boost the growth of the volumetric video market. 8i, Yi Halo Technology, VOXON, and Holografika are the major players in APAC. Key Topics Covered: 1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/6brx9j/global_volumetric?w=5 Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/global-volumetric-video-market-2018-2023-300651961.html SOURCE Research and Markets |