Global Virtual Reality Content Creation Market Research Report Information By Content Type (Videos, 360-degree photos and Games), By Component ( Software and Services), By End User ( Real estate, Travel & Hospitality, Media & Entertainment, Healthcare, Gaming, Automotive and Others), By Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) - Forecast till 2030
ID: MRFR/ICT/8074-HCR | 111 Pages | Author: Aarti Dhapte | May 2023
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Virtual Reality Content Creation Market
Virtual Reality Content Creation Market is Predicted to Reach US$ 265.3 Billion by 2030 Registering a CAGR of 62.10%
$265.3 Billion
62.10%
North America
2022–2030
Market Snapshot
Global Virtual Reality Content Creation Market is expected to register USD 265.3 billion at a CAGR of 62.10% during the review period, 2022-2030.
The virtual reality content creation software is a significant development in the content-based applications owing to its wide scope of end-users. The virtual reality content creation tools are widely used as open-source platforms to create content offering immersive experiences. These tools are developed to be user friendly, thus the adoption of virtual reality content creation is expected to rise at a high rate during the forecast period.
The rise in demand for head-mounted displays (HMDs) such as VR and AR products among individuals across the globe and the high availability of cost-efficient VR devices in the gaming and entertainment sector is expected to drive the growth of the global virtual reality content creation market. Furthermore, there is an increase in the demand for VR content in the marketing sector owing to a surge in demand for exquisite customer experience marketing strategies across diverse end-users. However, the lack of awareness associated with the benefits of using VR devices in developing economies is a factor expected to restrain the growth of the global market to a certain extent.
Key Players
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.
Market Segmentation
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.
By Component, the market has been segmented into software and service.
By End User, the market has been segmented into real estate, travel & hospitality, media & entertainment, healthcare, gaming, automotive, and others.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Regional Analysis
Geographically, the Global Virtual Reality Content Creation Market has been categorized into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America dominated the global virtual reality content creation market in 2018 and is expected to have the largest market share during the forecast period. The growth is majorly attributed to the availability of well-developed IT infrastructure. Also, high IT spending capability of the countries in North America also supports the growth of virtual reality content creation in this region. The market in Asia-Pacific is expected to register the highest CAGR over the forecast period, owing to increasing VR based startups across various countries in this region.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- What will be the growth rate by 2025?
- Who are the key players in this market?
- What are the strategies adopted by key players?
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 265.3 Billion |
| CAGR | CAGR 62.10% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Type |
| Geographies Covered | North America, Europe, Asia-Pacific |
| Key Vendors | Blippar 360 Labs Matterport Koncept VR SubVRsive Panedia Pty Ltd. WeMakeVR VIAR (Viar360) Pixvana Inc. Scapic |
| Key Market Opportunities | |
| Key Market Drivers | The rise in demand for head-mounted displays (HMDs) such as VR and AR products |
Frequently Asked Questions (FAQ) :
The importance placed on customer experience marketing strategies is predicted to garner a favourable expansion momentum.
Intensifying growth momentum is estimated to be seen in the market through the forecast period.
A CAGR of 76.5% is appraised to guide the market in the forecast period.
Matterport, Koncept VR, SubVRsive, 360 Labs and Panedia Pty Ltd. are some of the top firms in the global market.
The accessibility to well-developed I.T. infrastructure is estimated to reinforce the North American regions top position in the market.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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