Virtual Reality Content Creation Market worth USD 265.3 Billion, growing at a 62.10 % CAGR by 2030 – Report by Market Research Future (MRFR)
Research Reports
Oct 11, 2023
Virtual Reality Content Creation Market Insights:
The global Virtual Reality Content Creation Market is expected to register USD 265.3 billion at a CAGR of 62.10% during the forecast period 2022-2030. Virtual reality content creation software is a significant advancement in terms of content-based applications due to its wide range of options. end users. Virtual reality content creation tools are widely used as open-source platforms to create content that provides an immersive experience. These tools are designed to be user-friendly, hence the adoption of virtual reality content production is expected to grow rapidly during the forecast period. Growing demand for head-mounted displays (HMDs) such as VR and AR products among individuals worldwide and high availability of cost-effective VR devices in the gaming and entertainment sector is expected to drive global virtual reality growth. content production market. Moreover, the demand for VR content in the marketing sector is increasing due to the increase in demand for excellent customer experience marketing strategies among various end users.
However, lack of awareness about the benefits of using VR devices in developing countries is a factor that is expected to limit the growth of the global market to some extent. The market is expected to benefit greatly from the increasing acceptance of innovative and cutting-edge technologies, especially in developing economies, which will accelerate the expansion of the virtual reality content production market. A major end user for VR content production is the media and entertainment industry. This is due to the ability of VR technology to provide users with a realistic and immersive experience. Vendors are developing advanced VR content production platforms and services through partnerships. For example, in May 2022, DPVR and FXG Video Science and Technology collaborated to create more convenient VR content systems by combining their technologies and resources. systems such as televisions, computers and others continue to be updated, which accelerates the growth of the market. The demand for VR content is increasing due to its strong ability to use surround display systems and support advanced virtual simulations.
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Key Players:
Some of the key players in the market are:
- Blippar
- 360 Labs
- Matterport
- Koncept VR
- SubVRsive
- Panedia Pty Ltd.
- WeMakeVR
- VIAR (Viar360)
- Pixvana, Inc.
- Scapic
Scope of the Report – Virtual Reality Content Creation Market:
|
Report Metrics |
Details |
|
Market Size by 2030 |
USD 265.3 Billion |
|
CAGR during 2022-2030 |
62.10% |
|
Base Year |
2021 |
|
Forecast |
2022-2030 |
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Market segmentation:
The global virtual reality content creation market is segmented based on content type, component, end-user, and region. By content type, the market is segmented into videos, 360-degree photos, and games. By Component, the market is segmented into software and services. The end user has segmented the market into real estate, travel and hospitality, media and entertainment, healthcare, gaming, automotive and other sectors. The regions covered in the study are North America, Europe, Asia Pacific, Middle East and Africa, and South America. Geographically, the global virtual reality content production market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America dominated the global virtual reality production market in 2018 and is expected to account for the largest market share during the forecast period. The growth is mainly due to the existence of a well-developed IT infrastructure. The high IT spending power of North American countries also supports the growth of virtual reality content production in the region. The Asia Pacific market is expected to register the highest CAGR during the forecast period due to the increasing number of VR-based startups in the countries of this region. The global virtual reality content production market is characterized by the presence of several regional and local providers.
Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) Virtual Reality Content Creation Market – https://www.marketresearchfuture.com/reports/virtual-reality-content-creation-market-9552
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