Category: MarketsandMarkets

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Report: 360-Degree Camera Market To Reach $1.5 Billion by 2023

Creating 360-degree video has become one of the most popular and accessible means for creators to become involved in creating virtual reality (VR) content. Not only individuals but brands, businesses, marketing and creative industries have all embraced the technology as a new means to engage with audiences. According to a report by MarketsandMarkets, this trend is set to continue, leading to continued growth in the 360-degree camera market.

According to the report, the 360-degree camera market was valued at $347.7 million (USD) in 2017, and is expected to reach a value of $1,569 million (USD) by 2023, at a CAGR of 27.1% during the forecast period.

The 360-degree camera market comprises a large network of players who are involved in research and development, material suppliers, manufacturers, investors and distributors. Some of the biggest names in these areas include Samsung, Ricoh, GoPro, Insta360, LG electronics, Nikon, kokak and Xiaomi.

North America is expected to dominate the 360-degree camera market, in terms of value, throughout the forecast period. The projected growth of this market is attributed to high demand for cameras in various industries, including healthcare, automotive, industrial and consumer electronics.

The market for 360-degree cameras has been divided into several sectors in the report for easier analysis. Based on resolution, it has been divided into HD and UHD, with the UHD section expected to grow at a higher CAGR during the forecast period. This is due to the fast rate of innovation in this area hen compared to other photographic markets such as DSLR.

Based on camera type, the report has segmented the market into single and professional. The market for professional rated cameras is expected to grow at a high rate over the forecast period.

Further information, and the full text of the report, can be found on the MarketsandMarkets website. As usual, VRFocus will continue to bring you the latest developments in the VR industry.

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Report: Augmented Reality Market To Be Worth Almost 8m By 2023

A great deal of attention has been devoted towards augmented reality (AR) in recent months, with the release of Apple’s ARKit and Google’s ARCore prompting even more focus on the technology. A new report from MarketsandMarkets shows how that is translating into the wider immersive technology market.

The report, with the title of ‘Augmented Reality in Retail Market by Offering (Hardware and Software), Device Type (Head-Mounted, Smart AR Mirror), Application (Try-On Solution, Planning & Designing), Retail Type (Furniture, Beauty & Cosmetics), and Geography – Global Forecast to 2023’ shows that the AR market is still undergoing considerable growth.

The report predicts that the AR market will grow from $1.15 million (USD) in 2018 to $7.9 million by 2023, at a CAGR of 47.1% between 2018 and 2023.

According to the report, AR adoption in the retail sector is a significant driver of this growth trend. The report points to an increasing number of retailers who are using AR to offer users a ‘try before you buy’ option, with features such as virtual dressing rooms and AR lenses for testing make-up.

Another area that the report pinpoints in advertising, with MarketsandMarkets idendtifying AR advertising and marketing as something that increases customer engagement. The continued adoption of AR is said to reply on a better emotional connection.

North America is predicted to continue to hold the majority share of the AR market over the forecast period. The report says that the prevelence of technology in the geographical area and the uptake of AR in areas such as planning and design, advertising and marketing and information system will allow AR technology to further develop. The report also states that the USA has many companies that already utilise AR products, services and solutions, which will help North America maintain a position in the global AR market.

Sherwin-Williams - New Augmented Reality Feature

Further information on the report can be found on the MarketsandMarkets website. As usual, future news on the AR industry will be covered here on VRFocus.

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Growth of Volumetric Video Market Driven By VR and AR

According to a new market research report delivered by MarketsandMarkets titled ‘Volumetric Video Market by Volumetric Capture & Content Creation (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports & Entertainment, Medical, Signage, Education & Training), and Geography – Global Forecast to 2023’, the market for volumetric video is growing considerably, driven by demand from virtual reality (VR), augmented reality (AR) and 360-degree video.

Volumetric video technology allows for the capturing of images of real people using multiple cameras simultaneously to create realistic 3D models that can move in a natural way. These systems usually requires an array of cameras that are capable of depth-sensing 360-degree capture and a processing unit to stitch the images together.

The volumetric video market is largely being driven by various vendors who are offering volumetric hardware and VR and AR content creators who are increasingly making use of volumetric video for filmmaking and videogames. The market as a whole is expected to grow from $578.3 million (USD) in 2018 to $2,780 million by 2023.

The report signals that volumetric video is expected to become more widespread into various new areas and the technology becomes more practical to use and less expensive and bulky. The report says that an increasing number of experts are predicting that volumetric video will become prevalent in sports and entertainment as well as medical technology. The latter can be attributed to the rise in mixed reality for surgical and diagnostic procedures.

As indicated y the report, the market for volumetric video is largely led by North America, and the market in this area is expected to continue to grow during the forecast period. The US is hope to many key players in this area, such as Microsoft, Intel, Google and Facebook, who will ensure that North America remains a significant player in this industry.

For the latest news from the VR and AR industry, keep checking back with VRFocus.

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Growth of Volumetric Video Market Driven By VR and AR

According to a new market research report delivered by MarketsandMarkets titled ‘Volumetric Video Market by Volumetric Capture & Content Creation (Hardware (Camera & Processing Unit), Software, and Services), Application (Sports & Entertainment, Medical, Signage, Education & Training), and Geography – Global Forecast to 2023’, the market for volumetric video is growing considerably, driven by demand from virtual reality (VR), augmented reality (AR) and 360-degree video.

Volumetric video technology allows for the capturing of images of real people using multiple cameras simultaneously to create realistic 3D models that can move in a natural way. These systems usually requires an array of cameras that are capable of depth-sensing 360-degree capture and a processing unit to stitch the images together.

The volumetric video market is largely being driven by various vendors who are offering volumetric hardware and VR and AR content creators who are increasingly making use of volumetric video for filmmaking and videogames. The market as a whole is expected to grow from $578.3 million (USD) in 2018 to $2,780 million by 2023.

The report signals that volumetric video is expected to become more widespread into various new areas and the technology becomes more practical to use and less expensive and bulky. The report says that an increasing number of experts are predicting that volumetric video will become prevalent in sports and entertainment as well as medical technology. The latter can be attributed to the rise in mixed reality for surgical and diagnostic procedures.

As indicated y the report, the market for volumetric video is largely led by North America, and the market in this area is expected to continue to grow during the forecast period. The US is hope to many key players in this area, such as Microsoft, Intel, Google and Facebook, who will ensure that North America remains a significant player in this industry.

For the latest news from the VR and AR industry, keep checking back with VRFocus.

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New Report Says AR Market Will Be Worth Over $60 Billion by 2023

The market for immersive technology, including virtual reality (VR) and augmented reality (AR) continues its growth pattern, and a new report by MarketsandMarkets is forecasting that the market for AR will grow from $11 Billion (USD) in 2018 to a whopping $60 Billion by 2023.

The report, titled Augmented Reality and Virtual Reality Market – Global Forecast to 2023 predicts that demand for AR software and devices in healthcare, retail and e-commerce will continue to drive growth and investment in the AR market.

The report also says investments in VR, advancements in technology and the availability of affordable VR headsets will all contribute towards the rising penetration of VR into the gaming and entertainment sectors, which will be a factor towards the predicted rise in growth in VR from $7.9 Billion in 2018 to $34 Billion by 2023.

Research conducted by MarketsandMarkets showed that AR ‘heads-up displays’ are presently in use in automotive, defence and aerospace industries, most popularly being used for navigation in cars, military vehicles and airplanes. The report predicts that these systems, which for the most part are currently in testing, will soon see commercialisation, further driving AR market growth.

Consumer demands for AR products has mostly been driven through AR apps, including software in the videogame, sports and entertainment sectors, with AR gaming apps such as Pokemon Go seeing widespread adoption. The report forecasts that this trend is likely to continue, along with further input from AR healthcare and automotive areas.

Another trends forecast by the report is the continued emergence of the Asia Pacific or APAC region into the VR and AR market. Considering that the majority of display panel manufacturers are located in this region, and the rising investment in this technology, the report forecasts a number of new technologies and advancements will come from this region.

Further details can be found on the MarketsandMarkets website, where the report is available for purchase. VRFocus will continue to bring you the latest trends and news from the VR and AR industry.

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Report Says Market For Light Field Technology Worth $1.8B by 2023

Light Field technology is an emerging technology being investigated by several companies working in areas such as 3D mapping and scanning as well as virtual reality (VR), augmented reality (AR) and mixed reality (MR). An analysis by research firm MarketsandMarkets shows that this market will continue to grow over the next few years.

The report shows that the current market in Light Field Technology is valued at $924.7 million (USD) as of 2018, and is expected to reach over $1,822.3 million by 2023. According to the report, this growth will be driven by rising demand for Light Field technology for movie special effects, prototyping and design, marketing and immersive media.

Avegant MarsRover_lightfield

Light Field technology is being heavily researched due to its potential to create realistic virtual objects and environments in a naturalistic way. The technology can be used to capture real-world objects and locations and convert them into 3D digital images in a way that looks realistic to the viewer. In this way, it can be used to scan and map environments for AR or MR experiences that are accurate to real-world equivalents.

The report notes that one of the main focus areas for research into this technology is for medicine and healthcare. Obtaining accurate images of a patient, inside and out is critical for diagnosis and could potentially be useful for mixed reality surgical procedures – something which has already been experimented with. The report predicts that healthcare is likely to continue to hold a large share in the light field market, with media and entertainment seeing the highest growth.

MarketsandMarkets write that North America is currently the holder of the largest share of the light field technology market, though notes that the Asia-Pacific region is also seeing significant development in this area, and is expected to see significant growth during the forecast period.

The full report is available to download from the MarketsandMarkets website. As usual, VRFocus will keep you updated on the latest industry reports and trends.

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Reports Show Augmented Reality Market to be Worth $61 Billion by 2023

A new research report published by Markets and Markets shows that the market in augmented reality (AR) is expected to grow from $2.39 billion (USD) in 2016 to $61.39 billion by 2023.

The report indicates that rising demand for AR Heads-Up Displays (HUDs) in areas such as healthcare, retail and e-commerce will drive the growth. The market in AR HUDs is still in early phases of development, though new innovations in how the technology could be used have begun to appear. The Consumer Electronics Show 2017 showed potential uses for AR HUD technology including navigation for airplanes, cars and commercial road vehicles, with things like maps, speed indicators and other safety details displayed on the windscreen, creating less of a distraction to the driver or pilot.

The recent re-launch of Google Glass as Google Glass Enterprise Edition has highlighted the growth in demand for AR technologies from the business sector, with areas such as manufacturing, quality control, inventory and design developing AR software. The report from Markets and Markets also points out the potential for entertain applications, such as sports broadcasts as well as the videogame applications that have already begun to see some use. The report predicts that head-mounted AR displays for gaming and entertainment will be a major boost to the AR economy, especially with the addition of Apple to the market.

Major players in the AR market at present, as indicated by the report, are Google, Microsoft, DAQRI, Blippar, Magic Leap, Wikitude, Zugara, PTC Inc and Osterhout Design Group. The market is currently dominated by companies based in the USA and Europe, though the report predicts this will change rapidly as companies based in APAC countries such as Japan, China, India and South Korea gear up their own AR offerings.

The full report is available to read on the Markets and Markets website.

VRFocus will continue to bring you news on developments within the AR and VR sectors.

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Market in Devices with Gesture Control To Be Worth $34 Billion by 2022

The market in what is described as ‘Gesture Recognition and Touchless Sensing’ is set to reach a value of over $34 Billion (USD) by 20124, according to research by market analysis company Markets and Markets.

The growth in the gesture control market is expected to be largely driven by smartphones, which have already begun incorporating eye-tracking in addition to the standard touch-based gesture controls such as ‘pinch-zoom’. For example, Samsung recently introduced technology to its smartphones that can pause a playing video if the user looks away from the screen. The report also expects that eye-tracking and body tracking will begin to see more use in security to confirm identity and track suspicious individuals.

Touchless sensing, or non-touch gesture control to give it another name is where camera tracking or other motion tracking is used as the user make specific gesture to correspond to a particular action, such as in the demo of Fallout 4 VR, if the player raises their right hand towards their face, the Pip-Boy display will appear, or in The Mage’s Tale, where spells are cast using a particular set of hand gestures.

The report says that such camera-based touchless sensing is expected to see the largest amount of growth through the period specified, and uptake of the technology by commercial, non-gaming industries is expected to increase significantly.

VRFocus will bring you further news on research into VR markets as it comes in.