Volumetric Video Market to hit USD 9,685.7 Mn, Globally by 2028 at 26.2% CAGR: The Insight Partners

Volumetric Video Market Size is propelled by Growing Demand for Enhanced Sports Viewing Experience by 2028

NEW YORK, UNITED STATES, April 4, 2022 /EINPresswire.com/ -- According to our latest market study on “Volumetric Video Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Volumetric Capture and Application,” the 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.

Market Size Value in - US$ 1,898.7 Million in 2021
Market Size Value by - US$ 9,685.7 Million by 2028
Growth rate - CAGR of 26.2% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 197
No. Tables - 88
No. of Charts & Figures - 70
Historical data available - Yes
Segments covered - Volumetric Capture, and Application
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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According to the article published by Education Technology in July 2021, despite the economic uncertainty created by the COVID-19 pandemic, ~ 64% of 50 UK-based investors think that investment in virtual reality (VR) and augmented reality (AR) will increase in the coming years. Mixed reality technologies, such as AR and VR, provided tremendous benefits to several global end users, including sports & entertainment, medical, advertisement, retail & e-commerce, video games, education, and tourism sectors. AR has become popular due to developments in mobile technology by allowing customers to visualize and test things before purchasing them. Thus, several investments in AR and VR technologies are as follows:

Based on volumetric capture, the volumetric video market is segmented into hardware, software, and services. In 2021, the hardware segment accounted for the largest share in the volumetric video market. Based on application, the volumetric video market can be 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. By geography, the volumetric video market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global volumetric video market.

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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.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Press Release: https://www.theinsightpartners.com/pr/volumetric-video-market

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