Global Virtual Reality Content Creation Market, By Content Type (Videos, 360 Degree Photos, Games), Component (Software, Services), End-Use Sector (Real Estate, Travel and Hospitality, Media and Entertainment, Healthcare, Retail, Gaming, Automotive, Others) – Industry Trends and Forecast to 2029.
Global Virtual Reality Content Creation Market Analysis and Size
The advent of virtual reality (VR) tools is considered a major breakthrough, enabling people to present 3D ideas and design more efficiently than ever. The aim behind producing more fascinating and interactive contents is to use VR content development tools to immerse targeted audiences in the world of virtual entertainment. Therefore, the market's increased utilization of virtual reality content creation is anticipated to expand immensely over the forecast period.
- Global Virtual Reality Content Creation Market was valued at USD 15.10 billion in 2021 and is expected to reach USD 2426.32 billion by 2029, registering a CAGR of 47.00% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Virtual Reality Content Creation Market Definition
Virtual reality is basically a computer-generated digital world that gives the user a true-to-life experience. Because virtual reality material simulates the user experience, it is utilized to give virtual training and help for marketing, engineering, design, and maintenance functions. The virtual reality content creation is created in two ways: computer-generated content, in which every part of the world is synthetically created, designed, and integrated into an interactive experience using code, and 360-degree video, in which video is captured with an omnidirectional camera and edited to create an immersive experience.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Content Type (Videos, 360 Degree Photos, Games), Component (Software, Services), End-Use Sector (Real Estate, Travel and Hospitality, Media and Entertainment, Healthcare, Retail, Gaming, Automotive, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
IBM (U.S.), Blippar (U.K), 360 Labs (U.S.), Matterport Inc., (U.S.) Koncept VR LLC (U.S.), SubVRsive (U.S.), Panedia Pty Ltd., WeMakeVR (Netherlands), VIAR (U.S.), Scapic Innovations Private Limited (India), Dell Inc, (U.S.), Intel Corporation (U.S), McAfee, LLC (U.S.), Trend Micro Incorporated (Japan), VMware (U.S.), Juniper Networks Inc., (U.S.), Fortinet, Inc (U.S.), Sophos Ltd., (U.K) and Cisco Systems Inc. (U.S.)
Virtual reality content creation Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Surging Demand and Requirement
The rising application of 3D visualization of cryosurgeries in the pharmaceutical and healthcare sectors, particularly in emerging industries as well as the rising demand for head mounted products, will emerge as the primary market growth driving force. Moreover, the rising adoption of virtual reality by the various industries such as manufacturing and retailing largely boost the market growth.
The major elements driving the market's growth are the growing penetration of smartphones and high speed internet. Additionally, the rising availability of cost-effective virtual reality devices and strengthening the IT industry in developing economies is estimated to bolster the market's overall growth. Furthermore, due to its great capacity to access surrounding environments displaying systems and support improved virtual simulations, demand for VR material is increasing as visual display systems such as televisions, desktops, and others continue to be upgraded, which fuels the market growth.
- Technology Advancement And Developments
The growing adoption of new and advanced technology , especially in developing economies is estimated to generate lucrative opportunities for the market, which will further expand the virtual reality content creation market's growth rate in the future. Additionally, the surging improvement in product design, surging product connectivity with internet of things and growth in the number of research and development proficiencies by the major players will also offer numerous growth opportunities within the market.
Restraints/Challenges Global Virtual Reality Content Creation Market
- High Investments and Other Limitations
The high initial investments, performance inefficiency and high power wastage are expected to obstruct market growth. Moreover, the lack of strong infrastructural facilities in the backward economies will also hinder the overall market growth.
- Dearth of Expertise
Also, the lack of technological expertise in underdeveloped and developing economies might pose as a challenge for the virtual reality content creation market over the forecast period.
This virtual reality content creation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the virtual reality content creation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Virtual reality content creation Market
The outbreak of COVID-19 pandemic had a favorable impact on the virtual reality content creation sector. The gaming sector and OTT platforms benefited from lockdown, physical distancing mandates, and safety protocols. As a result, the use of VR devices to handle the entire gamut is increasing. With the COVID 19 disruptions projected to last for several years, the virtual reality content creation sector is expected to generate significant revenue. The AR market is developing because to rising demand for AR devices and applications in healthcare, rising investments in the AR business, and growing demand for AR in the retail and e-commerce industries due to COVID-19. The availability of affordable VR devices, increasing adoption of HMDs in various industries, technological advancements and growing digitization, penetration of HMDs in gaming and entertainment sectors following COVID-19, and high investments in the VR market are the main factors driving the VR market growth.
- In March 2020, Epson America, Inc., a subsidiary of Japan's Seiko Epson Corporation, has teamed with 3D HoloGroup (US) to offer Epson's AR glasses. 3D HoloGroup (US) specialises in AR software architecture and systems integration. 3D HoloGroup specialises in Augmented Reality (AR) software architecture and systems integration, and is on pace to offer the most comprehensive range of AR gear and accessories on the market.
Global Virtual reality content creation Market Scope
The virtual reality content creation market is segmented on the basis of content type, component and end-use sector. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- 360 Degree Photos
On the basis of content type, the virtual reality content creation market is segmented into videos, 360 degree photos and games.
On the basis of component, the virtual reality content creation market is segmented into software and services.
- Real Estate
- Travel and Hospitality
- Media and Entertainment
On the basis of end-use sector, the virtual reality content creation market is segmented into real estate, travel and hospitality, media and entertainment, healthcare, retail, gaming, automotive and others.
Virtual reality content creation Market Regional Analysis/Insights
The virtual reality content creation market is analyzed and market size insights and trends are provided by country, content type, component and end-use sector as referenced above.
The countries covered in the virtual reality content creation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the virtual reality content creation market because of the availability of well-developed IT infrastructure within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing VR based startups across various economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Virtual reality content creation Market Share Analysis
The virtual reality content creation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to virtual reality content creation market.
Some of the major players operating in the virtual reality content creation market are
- IBM (U.S.)
- Blippar (U.K)
- 360 Labs (U.S.)
- Matterport Inc., (U.S.)
- Koncept VR LLC (U.S.)
- SubVRsive (U.S.)
- Panedia Pty Ltd.
- WeMakeVR (Netherlands)
- VIAR (U.S.)
- Scapic Innovations Private Limited (India)
- Dell Inc, (U.S.)
- Intel Corporation (U.S)
- McAfee, LLC (U.S.)
- Trend Micro Incorporated (Japan)
- VMware (U.S.), Juniper Networks Inc., (U.S.)
- Fortinet, Inc (U.S.)
- Sophos Ltd., (U.K)
- Cisco Systems Inc. (U.S.)
Research Methodology : Global Virtual reality content creation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
To know more about the research methodology, drop in an inquiry to speak to our industry experts