Research Nester published a report titled “Volumetric Video Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the volumetric video market in terms of market segmentation by capture type, by application, by content delivery, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Volumetric video is the latest technology that helps in providing better viewing experience to the viewers. The technology works by using 360 degree camera that can capture minute details. It is the process of capturing 2D and 3D objects with the help of in-depth sensors and motion sensing techniques. Mesh-based and point-based scanning is used as well. The technology can be used to enhance events, sports, video games, promotions, conferences, exhibitions and more.
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The market is anticipated to achieve a significant growth at a significant CAGR during the forecast period, i.e. 2020-2028. The market for volumetric video is segmented by capture type, by application, by content delivery, and by region. On the basis of capture type, the market is further segmented into hardware, software and services. The hardware segment is anticipated to hold the largest share in the market on the back of rising needs for equipment to create videos and capturing images. The growth can be witnessed as the number of volumetric video studios are increasing and nowadays, viewers expect better quality and viewing experience. Moreover, the technology enhances the user engagement since the quality is remarkable.
The market in North America region is predicted to hold the largest market share as the technological advancements in the region are rapidly growing and several major companies are present in this area.
Increasing Demand For Better Viewing Quality To Boost The Market Growth
Better viewing quality is in demand as people are becoming skeptical of their health, specifically eyes. This increases the use of volumetric video technology as it provides best viewing experience. The market is anticipated to expand globally as developed countries are using the technology immensely and developing countries have started to understand the benefits as well. Further, it will result in increase in the number of volumetric video studios and presently, several market players can be seen emerging in this market globally. However, volumetric video market is not doing well in the current year due to the COVID-19 pandemic globally. Several events stand cancelled as almost every country is experiencing lockdown. This is estimated to have a negative impact on volumetric video market as no events, sports, conferences, exhibitions, are being conducted. The market might be able to revive only after the pandemic (COVID- 19) ends and things go back to normal.
This report also provides the existing competitive scenario of some of the key players of the volumetric video market which includes company profiling of Microsoft Corp. (NASDAQ: MSFT), Holoxica, Coretec Group Inc. (OTCMKTS: CRTG), Voxon Photonics, Intel Corp. (NASDAQ: INTC), Vostok VR, LightSpace Technologies, Scatter, RealView Imaging Ltd., Unity Technologies.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the volumetric video market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market- centric strategies according to the ongoing and expected trends in the future.
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