Newark, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global volumetric video market is expected to grow from USD 2.1 billion in 2021 to USD 21.2 billion by 2030, at a CAGR of 29.3% during the forecast period 2022-2030. The market is anticipated to be driven by the rising demand for 360-degree content in the entertainment sector. Furthermore, the increasing demand for improved and advanced medical image guide surgery provides an opportunity for the market's growth during the forecast period. However, the high cost of production restraints the market's growth. Additionally, the increasing use of volumetric video technology for creating creative advertisements for filmmaking and gaming provides a lucrative growth opportunity for the market to flourish during the forecast period. The surging demand for an enhanced match viewing experience is anticipated to drive the market's growth.
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The Brainy Insights launched a study titled Volumetric Video Market Size By Volumetric Capture (Software, Hardware, Services), Application (Events and Entertainment, Advertisement, Sports, Medical, and Education), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
Report Scope & Segmentation
| Report Attribute | Details |
| Revenue forecast in 2030 | USD 21.2 billion |
| Growth Rate | 29.3% |
| Base Year | 2021 |
| Historic Years | 2019 - 2020 |
| Forecast Years | 2022 - 2030 |
| Segments Covered | Volumetric capture, application, and regions. |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World |
| Number of Companies Covered | Microsoft Corporation, 4Dviews, Intel Corporation, 8i, Unity Technologies, Google LLC, Stereolabs Inc., IO Industries Inc, Canon Inc., and Verizon Communications, among others. |
| Report Coverage | Product offering, business overviews, geographic presence, business strategies, segment market share, product development & amp; innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. |
The hardware segment dominated the market with market revenue of 0.9 billion in 2021
The volumetric capture segment is divided into software, hardware, and services. In 2021, the hardware segment dominated the market with a market revenue of 0.9 billion. The segment has been growing owing to higher hardware products, such as cameras, studios, etc., for creating volumetric videos. Furthermore, the number of cameras used in volumetric capture studios ranging from two to a hundred also propels the segment's growth.
The advertisement segment accounted for the largest share of the market, with 36.6% in 2021.
The application segment is divided into events & entertainment, advertisement, sports, medical, and education. Over the forecast period, the advertisement segment is expected to grow at the fastest CAGR of 36.6%. Volumetric videos are widely used in the advertisement industry to create unique content for building brands, driving the segment's growth.
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Regional Segmentation Analysis:
The volumetric video market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, Middle East, and Africa. The Asia Pacific is expected to be the largest market during the forecast period. The demand for volumetric video in Asia Pacific has been growing owing to the increasing demand for 360-degree content in the entertainment sector and an increasing number of professional creative studios. The growing adoption of volumetric video in events, sports, entertainment, and advertisement applications, prominent regional players, propels the market's growth.
Competitive Analysis:
The major players in the volumetric video market include Microsoft Corporation, 4Dviews, Intel Corporation, 8i, Unity Technologies, Google LLC, Stereolabs Inc., IO Industries Inc, Canon Inc., and Verizon Communications, among others.
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About the report:
The global breakfast cereals market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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