Northbrook, IL 60062 -- (SBWIRE) -- 09/19/2023 -- The global volumetric video market is expected to be valued at USD 2.2 billion in 2023 and is projected to reach USD 7.6 billion by 2028; it is expected to grow at a CAGR of 28.6% from 2023 to 2028. The volumetric video market holds immense untapped potential, particularly in teleconferencing and the commercialization of 5G technology. The advent of 5G brings forth the advantages of low latency and high bandwidth speed, facilitating the seamless delivery of volumetric video content.
The volumetric video Companies is dominated by players such as Microsoft Corporation(US), Intel Corporation (US), Unity Technologies (US), Alphabet Inc. (US), Sony Corporation (Japan), and others.
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Market Dynamics:
Opportunity: Growing applications of volumetric video for progressive medical imaging and image-guided surgery
Volumetric video is a technology that captures images in three dimensions (3D) and creates a fully immersive experience for the viewer. Advanced medical imaging involves using cutting-edge technology to generate ideas of the human body that are more detailed and precise than traditional imaging techniques. On the other hand, image-guided surgery uses real-time imaging to guide surgical procedures and enhance their accuracy. The volumetric video has the potential to revolutionize both of these fields by creating 3D models of patients' organs or body parts that can be manipulated and viewed from any angle. This could enable surgeons to plan and carry out procedures more effectively, improving patient outcomes and reducing recovery times.
Challenge: Lack of standardization for 3D content creation
The lack of standardization in 3D content creation is a significant issue because it can lead to compatibility issues between different systems, which can cause errors and additional costs for content creators. For example, a content creator may create a 3D model in one software package that cannot be imported into another, requiring them to recreate the model from scratch. This can be time-consuming and expensive, leading to delays in the production process.
Key Players:
Microsoft Corporation (US)
Microsoft is a global leader offering software services, devices, and solutions. Microsoft is also among the few companies that provide cloud-based services to consumers and businesses. Operating systems, cross-device productivity applications, business solution applications, desktop and server management tools, software development tools, and video games are a few of the essential products offered by Microsoft. It also provides training and certification for computer system integrators and developers. In addition, it designs, manufactures, and sells devices such as PCs, tablets, gaming and entertainment consoles, and other intelligent devices and related accessories. The company offers cloud-based solutions that provide software and services.
Microsoft also offers solution support, consulting services, and online advertising to a global audience. Microsoft operates through three business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Intelligent Cloud segment includes public, private, and hybrid server products and cloud services, such as Microsoft SQL Server, Visual Studio, System Center, related CALs, and Windows Server. Microsoft has its mixed reality capture studio located in San Francisco and has Microsoft-licensed and certified mixed reality studios such as Dimension (UK), Metastage (US), Jump Studio (South Korea), and Avatar Dimension (US). The company also has partnerships with companies across the value chain of the volumetric video market, such as 8th Wall, Volucap, and Littlstar.
Intel Corporation (US)
Intel Corporation was established in 1968 and has its headquarters in California, US. The company designs and develops critical products and technologies that power the cloud and the intelligent, connected world. Intel delivers computer, networking, and communication platforms to customers, including original equipment manufacturers (OEMs); original design manufacturers (ODMs); cloud and communications service providers; and industrial, communications, and automobile equipment manufacturers. The company operates through six business segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IoTG), Non-volatile Memory Solutions Group (NSG), Programmable Solutions Group (PSG), and All Other.
Intel is one of the key players in the global volumetric video market, offering advanced volumetric video solutions to its customers worldwide. Intel's RealSense technology is a popular choice among companies that need depth-sensing capabilities for their volumetric video projects. Intel has employees in more than 46 countries and consumers in over 120 countries. Its key subsidiaries are Intel Americas, Inc. (US), Intel Asia Holding Limited (Hong Kong), Intel (UK) Limited (England and Wales), Intel Israel Holdings B.V. (Netherlands), Intel Kabushiki Kaisha (Japan), Intel Mobile Communications GmbH (Germany), and Intel Semiconductor (Dalian) Ltd. (China).
4D Views (France)
4D Views is a company that specializes in volumetric video capture and processing technologies. The company focuses on delivering high-quality and fully packaged equipment for professional creative studios. It has developed a competent volumetric video format compatible with many software and hardware platforms. The company's products support Android and iOS smartphones, Microsoft HoloLens, HTC Vive, and Oculus. 4D Views offers a proprietary volumetric video capture technology called 4D Capture, which captures dynamic 3D images of people, objects, and environments. This technology creates high-quality, photorealistic digital assets for virtual and augmented reality experiences.
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Regional Scope:
The Asia Pacific region is experiencing substantial gains in adopting and utilizing volumetric video technology, resulting in a significant boost to various industries. With its vast population and rapidly growing economies, the region has become a hotbed for technological innovation, and volumetric video is no exception. Asia Pacific countries leverage this advanced technology to enhance their signage and advertising sectors. By incorporating volumetric video, businesses in the region can create captivating and immersive experiences that resonate with their target audience. Whether in shopping malls, airports, or even on digital billboards, volumetric video offers a unique and attention-grabbing approach to signage and advertisement. Additionally, Asia Pacific has a thriving entertainment industry, including film, gaming, and virtual reality experiences, where volumetric video has found extensive applications. The region's solid creative talent and growing immersive content demand further contribute to volumetric video technology adoption.