Volumetric Video Market is Emerging with 25.2% of CAGR by 2027 – 4D View Solution SAS, Dimension, Microsoft Corporation, Intel Corporation, RealView Imaging Ltd

February 08 13:05 2021
Volumetric Video Market is Emerging with 25.2% of CAGR by 2027 - 4D View Solution SAS, Dimension, Microsoft Corporation, Intel Corporation, RealView Imaging Ltd

The Insight Partners
According to the new research report published by The Insight Partners, titled “Volumetric Video Market – Global Analysis and Forecast to 2027”, the global Volumetric Video market is expected to reach US$ 8,471.0 Mn by 2027, registering a CAGR of 25.2% during the forecast period 2020-2027.

Volumetric video captures the act or scene from several standpoints and then the captured information is used for creating a depth map of the recorded video. For instance, each Manifold is capable of capturing every direction from the system with the use of at least four sensors, or seven sensors in most places. Further, different software are used to give required effect to the video. Several players have also established their volumetric video studios to offer services to their clients as per their requirements, which can be custom-made.

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Impact of Covid-19 on Volumetric Video Market:

The 2019-20 COVID-19 (coronavirus) pandemic had a major impact on society, public health, and the economy as a whole. Further, it has also caused chaos to the sporting calendar. In an attempt to stop the spread of the virus, several professional as well as amateur leagues across all regions and sports took the extraordinary step to suspend or postpone their sports events on the instruction of the Centers for Disease Control and Prevention to avoid gatherings of huge numbers of people. For instance, Union of European Football Associations announced to postpone the ‘Euro 2020’ tournament to 2021. Other events such as Chinese football’s Super League, Indian Wells tournament (US), French Open, Indian Premier League, and Formula 1, among others, are either postponed or cancelled. Postponed or cancelled events might result in a decline in revenues for the players operating in volumetric video market.

APAC is projected to grow at a very high pace in the volumetric video market during the forecast period. Volumetric video applications in Asian economies are expected to boom at an exponential rate owing to the increasing number of professional creative studios. Also, the volumetric video market players are focusing on launching new solutions to create volumetric videos; for instance, in November 2019, Voxon Photonics (Australia) launched the VX1 hologram table, which creates interactive 3D images that appear to be floating in the air, above a table in front of a group of people who can view these 3D images without any visual aids.  

The use of complex and sophisticated technologies in SAM is gaining a high momentum at a gradual pace. Adoption of 360-degree videos and virtual reality is increasing at a high rate. Three major media organizations of SAM have ventured to use 360 video on few projects such as Knight Center: Diario Financiero of Chile; TV Globo of Brazil; and Todo Noticias in Argentina. Awareness of advanced technologies leads to its execution which would positively impact the market growth. in the city of Belo Horizonte in the state of Minas Gerais, Brazil, to establish lithium-sulfur cells plant.

Brazil is already following the path of sustainable growth in the coming years. The country has witnessed adoption of 360-degree videos on a continuous basis. For instance, BBC has introduced an experimental Sports app which has given 360-degree coverage of Olympics held in Brazil. Through this, the users had been able to watch fully-immersive video of ceremonies, live events such as athletics and boxing. Growing adoption of 360-degree videos in the country for sports is anticipated to accelerate the business of volumetric business as well. Argentina is another important country which is looking ahead to adopt advance technological advancements in their territory. The use of volumetric video is majorly observed in sports industry.

Strategic Insights

Several other players operating in the volumetric volume market are also taking initiatives such as construction of new volumetric video studios, which is driving the demand for the volumetric videos. Some of the recent key developments are mentioned below. Few of the recent acquisitions are listed below;

  • 2019: Intel partnered with Manchester City, Arsenal FC, and Liverpool FC to deliver immersive experiences at the Emirates Stadium, Anfield, well as the Etihad Stadium through Intel’s True View, which transforms volumetric video data into immersive 3D replays.   
  • 2018: VoluCap unveiled a volumetric video capture studio located in Berlin.
  • 2018: Intel unveiled an advanced studio precisely for the production of large-scale, volumetric content for immersive media

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