Volumetric Video Market Trends

Introduction

The market for volumetric displays will be subject to significant changes by 2024, owing to a combination of technological developments, regulatory changes and changing consumer behavior. The development of capture and rendering technology will increase the quality and availability of volumetric content, while the regulatory framework will be shaped by the increasing importance of data privacy and ownership of content. Also, the changing demand for immersive experiences will push industries such as entertainment, education and marketing to adopt volumetric display solutions. These trends must be understood by those who want to understand the market and its complexity, and to take advantage of the opportunities.

Top Trends

1. Increased Adoption of AR/VR Technologies
   Several companies, Oculus, Magic Leap, and others, have begun to use volumetric videos for their applications. A recent survey shows that 70 per cent of the development community is concentrating on augmented and virtual reality projects. This trend is expected to improve the engagement and create an immersive experience. As more and more industries adopt this technology, the demand for volumetric content will grow and so will the investment in it.
2. Government Initiatives in Digital Media
   Governments are increasingly seeing the potential of 3D images for teaching and training. For example, in South Korea, the aim is to make use of 3D images in the provision of public services. This trend is expected to improve the availability and relevance of educational content. In the future, the level of public investment in this field will increase, which will lead to closer collaboration between technology companies and governments, thereby promoting innovation.
3. Advancements in Compression Technologies
   The new compression schemes, such as those used by VNova, can reduce the data rate needed for streaming a volumetric image to a considerable extent. Recent tests indicate that the quality of the image is not compromised by a reduction of about 50 percent in the data rate. This is of great importance for a wider deployment, especially in mobile applications. As streaming becomes more efficient, it opens up new possibilities for content distribution and monetization.
4. Integration with Gaming Platforms
   A number of gaming companies, including Epic and Unity, have already incorporated volumetrics into their platforms, and this is already enhancing the gaming experience. According to a recent survey, some 65% of players prefer an immersive experience, indicating a strong market for this technology. In the future, this technology will completely transform the way games are made and will lead to more engaging and interconnected stories. Eventually, we may even be able to use volumetrics in real time for live events.
5. Rise of Remote Collaboration Tools
   In the shift towards remote working, the development of 3D-based virtual collaboration tools has accelerated. For example, both Microsoft and Google have invested in solutions that allow teams to interact in three dimensions. In fact, a recent study showed that a full 80% of remote workers prefer to use these tools, indicating a growing need. This development is likely to increase the productivity and innovation in remote working.
6. Enhanced Live Event Experiences
   The live events industry is now exploring the use of volumetric video for concerts and sports. For example, Verizon has tested live sports broadcasts of events in 3D and found that they are attracting a great deal of interest. Virtual tickets and sponsorships are expected to create new revenue streams. Interactivity could be introduced in the future to enable spectators to choose their own perspective during the event.
7. Focus on Content Creation Tools
   Digitalsmiths and Sony have developed software for preparing volumetric images. According to the most recent survey, about 60 percent of content creators are looking for an easier way to produce volumetric content. This trend will democratize content creation and enable more content creators to enter the market. The more sophisticated the tools become, the greater the quality and variety of content will be.
8. Partnerships for Cross-Industry Innovation
   Strategic alliances between technology companies and traditional industries are emerging to exploit the potential of volumetric images. For example, medical and technology companies are working together to create a simulation platform for medical training. Data show that seventy-five per cent of industries are looking at volumetric images for training purposes. The trend is expected to bring about innovation and the development of specialised applications for various sectors.
9. Growing Interest in Interactive Storytelling
   Entertainment companies are increasingly turning to the use of volumetric film for storytelling, and social media like Facebook are experimenting with the use of virtual reality. According to one study, 68% of consumers prefer interactivity to the traditional format. This new trend is likely to alter the way we consume content and encourage content creators to adopt new storytelling techniques. The next step could be a form of storytelling that takes the viewer’s choices into account.
10. Sustainability in Content Production
    In the field of 3D animation, sustainable practices are becoming more and more important, and companies are increasingly exploring eco-friendly techniques. For example, reducing energy consumption during filming is a growing concern. Statistics show that 55% of consumers prefer to do business with companies that are committed to sustainable practices. In the future, this trend will undoubtedly influence the filmmaking process and attract consumers who are concerned about the environment.

Conclusion: Navigating the Volumetric Video Landscape

The 2024 volumetric-video market will be characterized by a fragmented competitive environment, with both established and new entrants competing for market share. Regional trends point to the fastest growth in North America and Asia-Pacific, driven by advancements in automation and artificial intelligence. Strategic positioning will be key, with vendors relying on their capabilities in terms of sustainable and flexible solutions to meet the diverse demands of customers. Meanwhile, new players are focusing on developing agile solutions that are centered on the customer experience. To maintain their competitive advantage, vendors will have to keep up with the changing trends in technology.