Global Volumetric Video Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

DRIVERS:

GROWING DEMAND FOR 3D CONTENT IN ENTERTAINMENT INDUSTRY

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With the increasing application of volumetric capture market in gaming and entertainment industry, development of AR enabled software is also increasing as it requires 2D and 3D volumetric video capture. 3D volumetric capturing involves more complexity than 2D. AG enabled entertainment applications has increased the demand of 3D volumetric content capturing. Majorly the demand of 3D volumetric video capture has increased in entertainment sector wherein it is used for gaming and cartoon character development. 3D movements of objects as per the use is captured in volumetric capture and it is used in the application of AR. Thus it shows that with the increase in applications of augment reality will drive the growth of volumetric video capture as video capture is used to record the actions and produce videos which can be seen through augment and virtual reality.

INCREASING APPLICATIONS OF VOLUMETRIC TECHNOLOGY IN NUMEROUS END USER INDUSTRIES

Volumetric video capture is being used in Information Technology, entertainment, healthcare, retail, automobile and other industries. Volumetric technology helps in capturing movements, imaging structure which makes the 2D and 3D images of the object. Volumetric capture does live imaging of target objects which has found an application in warfare. US fighter F-35 uses 360-degree view and 3D imaging of the objects, fields and targets. F-35 uses volumetric technology and it feeds all the information which are converted into 2D or 3D structure directly into the pilot’s helmet to provide a holistic view of the surrounding. Helmet converts the volumetric capture feed to resourceful data using Augment reality. Similarly companies like Zara, Harley- Davidson, Coca- Cola are using real time volumetric capture provided by customers using their phone application. Thus increasing use of techniques involving augment reality across different business sectors is pumping the growth of volumetric video capture.

UPSURGE IN THE UTILIZATION OF AUGMENT REALITY FOR TRIGGERING VOLUMETRIC VIDEO CAPTURE

With the use of augment reality across various sectors it has increased the market of volumetric video capture. Companies have started building their own studios to do volumetric video capture and to make final video recording using in-depth image sensing for the application in augment reality.Intel has lately opened a recording studio in Las Vegas, which is world’s largest recording studio for volumetric video capture. Also, Sony started its new volumetric capture studio facility of 7,000 square feet. It will promote the image scanning for augmented and virtual reality. It will help the 2D and 3D content creation and help to capture the volumetric videos for the content creation. Exapnding sector of virtual entertainment applications is triggering growth in the applications of augment reality which reqires the volumetric capture. In return requirement of volumetriv capture will also increase.

RESTRAINT

HIGH INSTALLATION COST

In terms of components, it has projector, motor and position sensors, mirrors, lens, memory and screens. Most of the AR is custom made based on client’s need. These apps ranges from free to do-it-yourself (DIY) services to custom augmented reality apps built for enterprise customers. AR companies often provide DIY services and basic tools free of charge. Entry level DIY services such as 3D storytelling by Zoobusrt are free. Layar’s add free pro page service starts with USD60 per augmented page. Volumetric capture and photogrammetry uses images from cameras and sensors to create 3D meshes. Photogrammetry cost includes style of photogrammetry that is Point & Shoot which costs USD 50 – USD 5000, Multi Camera which costs USD 5000 – USD 200,000, and the Video which costs USD 50-USD 5000. Photogrammetry costs less than USD 5000 on lower end devices as several devices such as Intel’s RealSense D4000 is changing the game with cost effective scanners. Custom reality apps and Volumetric experience developed by companies like Marxent, Inde and gravity Jack have pricing based on the custom features which are defined by clients that typically lies between USD 25-USD 35. Some of the examples of these custom based AR experience are like in Jurassic Parkthat brought dinasoures to life with application of Augmented Reality, created by Universal Studio Orlando, and the IKEA AR. Virtual reality projects in real term starts with USD12,000 and can go to several thousands. Some of the examples with their cost of VR projects are ‘Voxi Unframed with Sigrid’ - USD19.9K, ‘Walk with Penguins’ - USD53k, and ‘Dublin in Dark’- USD119k.

POOR PROJECTION UNDER SUNLIGHT

The volumetric components are viable to work under the closed ecosystem with its display system and corresponding methods of providing a visual display by blending two or more types of light. During the operation of the display system a first light type which emerges via video projector is projected to front or rear screen and then the second type which is coherent light from laser projector is projected into first light type to blend with it to create a volumetric display environment. This whole process cannot take place in open area where sunlight is present, as it will create distortion in the path of projection. The avoidance of green screen and provision of diffuse lighting offers best possible conditions for re-lighting of the dynamic 3D models afterwards at design stage of the VR experience. The diffuse lightening offers best suited condition for re-lightening of 3D Models after design stage of VR experience. Hence, poor projection under sunlight is one of the factors for limiting the growth of the market

OPPORTUNITY

CONTINUOUS MERGER AND ACQUISITION

As the market of augment reality enabled services is increasing rapidly, hence it is resulting in lot of players adopting mergers and acquisitions in this sector. Companies like Facebook and Google are doing mergers and acquisitions with the other market players from the augment reality sector to become a part of this emerging market.

For instance, Facebook acquired Oculus in a USD 2 billion deal. Oculus makes virtual reality enabled headsets which are used for gaming, watching movies and for other leisure activities. On the other hand, Google invested USD 58 Million in augment reality start-up Mojo Vision. Mojo vision helps in providing computing solutions that are required in the operation of processing data and recorded videos. Google is already working on Artificial Intelligence and they are planning to incorporate volumetric capture and augment reality technology with google lens and other AI enabled products of google. With the growth of the AI and AR/VR techniques using volumetric capture more companies are entering in the market will lead the growth of volumetric capture market.

RISING NEED FOR ADVANCED IMAGE-GUIDED SURGERY AND ITS UTILIZATION FOR TRAINING PURPOSES

AR has found healthcare industry as one of its major end user segment. Companies like Johnson & Johnson Medical Devices and Touch Surgery are doing volumetric capture for the use in medical applications like training doctors to operate using AR, thus creating a major use of AR in this sector. It not only helps in training but is also used in other applications like to find or identify veins in the human body and companies like VeinSeek Pro, AccuVein are using it for such applications. It is also being used to train doctors for dissection, eye anatomy, Neurosurgery, ENT and various other applications. Incorporating volumetric capture dependent application of AR in healthcare domain will provide extensive exposure to pragmatic anatomy training and will help to improve the accuracy in complex surgeries like heart bypass surgery, neurosurgery. Thus, increased use of AR in healthcare sector will create an opportunity for the growth of the market

INCREASING REQUIREMENT OF VOLUMETRIC VIDEO TECHNOLOGY IN ADVERTISEMENT AND EVENT INDUSTRY

AR has found its major use in the entertainment and gaming industry, there are proven examples of the companies using AR for different kinds of entertainment purposes. For instance, AR enabled game like ‘Pokémon go’ has been the most popular game in 2016 and 2017 and it has crossed billion downloads on smartphones.

Companies like Niantic Inc has developed Pokémon go and another game based on the same application like harry potter. Companies like Groove Jones are helping international brands to project their advertisements using AR and incorporating AR in the promotional events of companies like Amazon, Fiat, Samsung, Mc Donald’s and more. In the event users had to paint a 3D wall using laser guided paint brush in real time. Therefore, increased use in Promotional events, advertisements and for entertainment is driving the growth for volumetric market which has numerous applications in AR and VR.

CHALLENGE

INACCESSIBILITY OF COMPONENT AS WELL AS ADVANCED SOFTWARE

Full video recording and capturing requires high end software which can collate with statistics gained from 3D scans. Special multi-camera unit with high quality capture and other countless configurations are required. Other important components include Human sensory-monitors, which collects the minute details of human model, the auditory display driver, an acoustic display driver and others. These vital components are not readily available at one go. The facilities and studios which make volumetric videos have their in-house hardware components structured with their needs and utilization. On the other hands motion captures techniques lean on Computer Graphics and VFX, which are used to create 3D models from videos are not available in customized versions for easy fit in any environment. Limitation to access components required for volumetric video making is the greatest challenge in volumetric video market.

COMPLEXITY IN CAPTURING AS WELL AS CREATION PROCESS OF VOLUMETRIC DATA

For capturing animation, facial expression and moving objects around the entity, high geometrical details are reconstructed along with texture quality. The complete association of each component is fully automated and requires about 12 hour per minute to create mesh sequence on which 3D models are built up providing high level of quality for immediate integration in virtual scenario. The motion capture process is highly complex and time consuming and requires representation of all minute geometric details like motion of actor, facial expression and motion of other objects in and around the actor. High quality processing requires 65Min/frame. The complex structure is divided into three main components, rendering hardware and software for display devices, hardware and software to generate specific aspects of model, and the core hardware and software system to generate independent aspects of modals that can match consistency and register them into system for multimodal. This complexity in capturing and creation processes are hampering the overall growth of the market

INCREASING COMPETITION AMONG SMALL PLAYERS

The volumetric video market is largely being driven by various vendors who are offering volumetric hardware and software and also AR & VR creators who are extensively making use of this technology for filmmaking and videogames. There are many key players in the volumetric video market such as Microsoft, Intel, Google and Facebook. But, apart from them there are many other small players who are having tough competition among themselves in this market and are one of significant players in market today. Some of the players are Jaunt, which incorporate machine-learning and AI to create volumetric videos, Magic Leap which has promised to produce live streaming hologram in coming years, and Volumetric Capture Studios who are focused in production of life-like immersive content by the new IO Industries (Designs digital video equipment) video cameras. Therefore, high number of players present in the market is responsible for limiting the growth due to intense competition

Market Trends:

  • On the basis of volumetric capture, the global volumetric video market is segmented into hardware, software and services. Hardware segment is sub segmented into processing unit and camera unit. Hardware segment is dominating in the market due to the utilization of large number of cameras as well as camera industry are now focusing more on the development of 8K resolution

  • On basis of application, the global volumetric video market is segmented into signage and advertisement, sports events and entertainment, medical, education and training, and others. Advertisement, sports events segment is dominating in the market due to high use of volumetric video technology in advertisement and event industry. For which companies are doing high number of acquisition and collaboration in order attract customers using volumetric video technology

Major Players: Global Volumetric Video Market

Some of the prominent participants operating in this market are Microsoft, Intel Corporation, RealView Imaging Ltd, 8i Limited, LightSpace Technologies, Facebook, Google, The Coretec Group Inc, Voxon Photonics, Jaunt, Inc, Omnivor, Inc, Hammerhead, Unity Technologies, HypeVR Technology, OTOY Inc., Stereolabs and others.