Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Virtual Reality Content Creation Market.
Global Virtual Reality Content Creation Market is expected to register a CAGR of 76.5% during the review period, 2019–2025.
Virtual reality (VR) is a virtual environment that is created by computer-generated simulations. VR devices replicate the real-time environment into the virtual environment. For example, the driving simulators in VR headsets provide actual simulations of driving a vehicle by displaying vehicular motion and corresponding visual, motion, and audio indications to the driver. The rise in demand for high-quality content such as 4K resolution among individuals coupled with the high availability of cost-efficient VR devices are the major factors expected to drive the growth of the global virtual reality content creation market during the forecast period. The ongoing modernization of visual display electronics such as TVs, desktops, and others is propelling the demand for VR content owing to its ability to adapt to the surrounding environments, displaying systems and the provision of virtual simulations.
The Global Virtual Reality Content Creation Market is characterized by the presence of several regional and local providers. Some of the key players in the market are Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana, Inc., and Scapic., among others.
Global Virtual Reality Content Creation Market has been segmented based on Content Type, Component, End User, and Region.
By Content Type, the market has been segmented into videos, 360-degree photos, and gaming. Among the content type segment, the video segment is expected to have the largest market share and is expected to grow significantly over the forecast period. Furthermore, the gaming segment is expected to advance at a fast pace and is expected to grow at the highest CAGR during the review period.
By Component, the market has been segmented into software and service. The software segment is attributed to have the largest market share in the component segment and the service segment is expected to grow considerably during the forecast period.
By End User, the market has been segmented into real estate, travel & hospitality, media & entertainment, healthcare, gaming, automotive, and others. Among all the end users, the gaming segment is expected to dominate the market with the largest market share followed by the media & entertainment segment. Further, the retail segment is expected to grow at the highest CAGR during the forecast period.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.