Recently MarketsandMarkets™ has evaluated volumetric video market growth from 2017 to 2019. They have released a new market research forecast “Volumetric Video Market by Volumetric Capture (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports, Events and Entertainment, Medical, Signage, Education & Training), & Content Delivery and Region – Global Forecast to 2025”.
The global Volumetric Video Market is estimated to grow from USD 1.4 billion in 2020 to USD 5.8 billion by 2025, at a CAGR of 32.8%.
This is mostly due to growing applications of volumetric video in different industries including, medical, training and education. However, most importantly great demand for entertainment, VR and AR content. The growing availability of volumetric capture hardware is also supporting this push. The major restraints on this market are high cost of production, portability and sensors being not able to perform under sunlight.
Entertainment, sports and events applications are expected to dominate the market in terms of revenue. Medical field is driving practical applications of volumetric video. It helps to better visualise body parts as well as give realistic 3D data for training purposes.
The latest potential of volumetric videos is teleconferencing. However there are only a couple of companies in the world currently allowing live streaming of volumetric video.
North America accounts for the largest share in 2019 and is expected to continue leading the market followed by Europe. The biggest growth will be seen in APAC.