North America Volumetric Video Market
No. of Pages: 133 | Report Code: TIPRE00025803 | Category: Technology, Media and Telecommunications
No. of Pages: 133 | Report Code: TIPRE00025803 | Category: Technology, Media and Telecommunications
The North America region constitutes developed economies including, US Canada, and Mexico. Across North America, technological advancements have led to a highly competitive market. North America region attracts several technological developments, which consist of economically robust countries. The region has a leverage of continuous technological developments. Growth in technologies assist in stimulating the business of other industries. The sports industry is the region is at the peak. The interest of viewers for 360-degree videos in sports & entertainment is anticipated to accelerate the business of volumetric video in North America. The US is a biggest market for sports in the territory so far and starting from live sporting events to media sponsorships, the sports industry is booming. ESPN is one of a major sports channels in the region for broadcasting various sports such as football, baseball, and soccer championships. As ESPN holds a significant share in the region, need to update their existing technologies to deliver better experience to the viewers is necessary. For instance, in June 2018, Intel partnered with ESPN to develop volumetric sports content for their new show known as “Soul and Science.” In addition, in the same year, Intel has also entered into partnership with Paramount Pictures to explore the use of their volumetric video technology in developing cinematic VR experiences. Gigantic and MNCs such as 8i, Microsoft studios, and new Intel studios are taking advantage of high-end volumetric cameras. They aim to develop AI based algorithms and create first consumer friendly & affordable solution for the masses. As a result of this, the users would be able to develop volumetric videos by themselves. In respect to volumetric video, the EF EVE platform is a consumer-friendly platform which develops and share volumetric video for both recorded video and live events. Such developments and urge to deliver a better viewing experience, would assist in up surging the adoption of volumetric video.
The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in the US. The economic growth was slowed, which directly impacted various trading activities across the region. By the end of 2020, the US witnessed 140,000 job losses, and unemployment rate stood at 6.7%, clearly indicating that the economy was faltering. One of the biggest impacts of COVID-19 on the B2B industry was the cancellations of in-person meetings and training. eMarketer highlights, a survey from Demand Gen Report in 2020, stated that almost 53% of US B2B marketers see trade shows, training, and in-person meetings as an effective approach to form communication. Further, limited workforce strength, owing to the imposition of strict containment measures, led to rise of online meetings through platforms such as Zoom, Google Meet, and Cisco. Thus, volumetric video is emerged an effective solution for virtual training for many big and small companies. Decreased demand in sectors such as tourism, signage and advertisement, Video streaming and Alternate realities, and Medical hampered the market growth in North America for year 2020. However, post-pandemic, The volumetric video market is anticipated to see a promising growth.
Strategic insights for the North America Volumetric Video provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 984.32 Million |
| Market Size by 2028 | US$ 4,609.32 Million |
| Global CAGR (2021 - 2028) | 24.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Volumetric Capture
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Volumetric Video refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The volumetric video market in North America is expected to grow from US$ 984.32 million in 2021 to US$ 4,609.32 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2021 to 2028. As there is wide range of technological deployment in marketplace transformation, international trade, and improved living standards, the technology plays a major role in deciding the North America economy. Owing to the growing number of applications, the adoption of volumetric video technology is expected to increase rapidly during the forecast period.
The demand for volumetric video technology from end-users is also increasing for personal and interactive video experiences. Moreover, the industry experts believe that volumetric video technology will revolutionize video viewing experience in sports and entertainment industry. Several companies in medical industry have started investing in developing volumetric content. This can be attributed to the holograms being used extensively in medical imaging by surgeons to view an organ of a body or a specific diseased part in 360° view. Further, the volumetric video with augmented or virtual reality devices permits 3D images to be viewed in a 360° environment.
North America volumetric video market is segmented into volumetric capture, application, and country. Based on volumetric capture, the North America volumetric video market is segmented into hardware, software, and services. In 2020, the hardware segment led the market, accounting for the largest share in the market. Based on application, the North America volumetric video market is segmented into sports events and entertainment, medical, signage and advertisement, e-commerce, video games and esports, training, education, video streaming and alternate realities, and others. In 2020, the sports events and entertainment segment accounted for the largest market share. Based on country, the North America volumetric video market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the volumetric video market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 8i; Arcturus Studios Holdings, Inc.; Canon Inc.; DGene Inc; Dimension; Evercoast; Magic Leap, Inc.; Microsoft Corporation; Omnivor; Sony Corporation; StoryFile; Tetavi; and VOLUMETRIC CAMERA SYSTEMS.
The North America Volumetric Video Market is valued at US$ 984.32 Million in 2021, it is projected to reach US$ 4,609.32 Million by 2028.
As per our report North America Volumetric Video Market, the market size is valued at US$ 984.32 Million in 2021, projecting it to reach US$ 4,609.32 Million by 2028. This translates to a CAGR of approximately 24.7% during the forecast period.
The North America Volumetric Video Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Volumetric Video Market report:
The North America Volumetric Video Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Volumetric Video Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Volumetric Video Market value chain can benefit from the information contained in a comprehensive market report.
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