According to our latest market study on "Volumetric Video Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Volumetric Capture and Application," the market is expected to grow from US$ 1,898.7 million in 2021 to US$ 9,685.7 million by 2028; it is estimated to grow at a CAGR of 26.2% from 2021 to 2028.

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Impact of COVID-19 Pandemic on Volumetric Video Market

Due to containment measures like business shutdowns, lockdowns, and travel restrictions, the adoption of volumetric video for digital marketing solutions experienced a decline in demand. This negatively impacted the volumetric video market in the first half of 2020. However, business activities have been quick to recover since the last quarter of 2020. As a result, the market players in the volumetric video industry are anticipating a steady increase in demand from enterprises.

In an effort to prevent large gatherings and mitigate the spread of SARS-CoV-2, the Centers for Disease Control and Prevention advised several professional and amateur leagues to suspend or postpone their sports events. As a result, numerous events, including the Euro 2020 tournament, the Chinese Super League, the Indian Wells Open, the French Open, the Indian Premier League, and Formula 1, were either postponed or canceled, resulting in reduced revenues for players in the volumetric video market. However, the COVID-19 pandemic has also increased the importance of volumetric video, and this is anticipated to drive market development during the forecast period. In 2022, the market is projected to experience a surge in growth due to the growing focus on virtualization. Therefore, the pandemic has had a positive impact on the volumetric video market.

Key Findings of Study:

Based on volumetric capture, the volumetric video market is segmented into hardware, software, and services. In 2021, the hardware segment accounted for the largest share in the volumetric video market. Based on application, the volumetric video market can be categorized into sports events and entertainment, medical, signage and advertisement, e-commerce, video games and esports, training, education, video streaming and alternate realities, tourism, and others. In 2021, the sports events and entertainment segment accounted for the largest market share. By geography, the volumetric video market is categorized into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global volumetric video market.

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