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2019
Virtual Reality Content Creation Market

Virtual Reality Content Creation Market

by Content Type (Videos, 360 Degree Photos, and Games), Component (Software and Services), and End-use Sector (Real Estate, Travel and Hospitality, Media and Entertainment, Healthcare, Retail, Gaming, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A05783
Pages: 226
Oct 2019 | 10419 Views
Author(s) : Sneha K , Supradip B
Tables: 103
Charts: 48
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Virtual Reality Content Creation Market Outlook-2026

The virtual reality content creation market size was valued at $431.3 million in 2018, and is projected to reach $46.54 Billion by 2026, growing at a CAGR of 77.1% from 2019 to 2026. The virtual reality content creation software is considered as leapfrog of content-based applications due to its widening scope of use among end users. The virtual reality content creation tools are widely used as an open source platform to create immersive experience content. These tools are developed to be user friendly, hence the adoption of virtual reality content creation is expected to rise at a high rate during the forecast period. North America dominated the overall virtual reality content creation market growth in 2018, as several major players are operating from this region, owing to availability of well-developed IT infrastructure. North America dominated the overall virtual reality content creation market in 2018, as several major players are operating from this region, owing to availability of well-developed IT infrastructure.

Virtual Reality Content Creation Market

Rise in demand for head-mounted display (HMDs) such as VR and AR products among individuals across the globe and high availability of cost-efficient VR devices in the gaming and entertainment sector majorly drive the growth of the global virtual reality content creation market. Moreover, there is an increase in demand for VR content in marketing sector owing to surge in demand for exquisite customer experience marketing strategies across diverse end-users. However, paucity of awareness associated with benefits of using VR devices in developing economies is a factor expected to restraint the growth of the global market to a certain extent. Furthermore, the rise in R&D activities to enhance the virtual marketing scope in retail sector is an opportunistic factor of the global market.

Among the content type, the videos segment dominated the VR content creation market in 2018 and is expected to continue this trend during the forecast period. Virtual reality content creation software is a crucial application responsible to provide immersive experiences to those using virtual reality devices. Thus, increase in adoption of virtual reality devices is in turn expected to drive the demand for virtual reality content among individuals and various industry verticals across the globe.

Virtual Reality Content Creation Market
By Content Type

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Videos is projected as one of the most lucrative segments.

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North America dominated the overall virtual reality content creation market share in 2018, as several major players are operating from this region, owing to availability of well-developed IT infrastructure. In addition, high IT spending capability of the countries in the North America also supports the growth of virtual reality content creation in this region.

The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the virtual reality content creation industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the virtual reality content creation market trends.

Virtual Reality Content Creation Market
By Component

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Software is projected as one of the most significant segments.

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Segment review

The VR content creation market is segmented on the basis of content type, component, end-use sector, and region. Further, the videos segment is sub-categorized into 360 degree and immersive. Based on content type, the market is categorized into videos, 360 degree photos, and games. On the basis of component, it is divided into software and services. Depending on end-use sector, it is categorized into real estate, travel & hospitality, media & entertainment, healthcare, retail, gaming, automotive, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Virtual Reality Content Creation Market
By End-user

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Gaming is projected as one of the most significant segments.

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Key market players operating in the virtual reality content creation market include Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana Inc., and Scapic.

Top impacting factors

Rise in demand for head-mounted display (HMDs) in gaming and entertainment sector

Playing video games has become a popular leisure activity in many regions of the world, as it is considered as one of the popular contemporary recreational activities. Increase in number of individuals inclined toward indoor video gaming activity is exponentially driving the demand for high-quality virtual reality content. This is a major factor expected to drive the growth of the global virtual reality content creation market.
Furthermore, immersive gaming is expected to gain mainstream appeal among the individuals that are dwelling on enhanced interactive virtual devices for an enthralled experience. Thus, virtual reality has revolutionized the gaming industry, as a person can experience and interact in a three-dimensional environment during a game. This has increased the need for games, the content for which is based on virtual reality. Aforementioned is a major factor to drive the growth of the global market in the coming years.

Virtual Reality Content Creation Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 91.3% during 2019-2026.

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Rise in virtual reality marketing

Marketing industry is gaining high momentum as the technological revolution has thrilled user experience through visualizations. The ideology of telepresence is closely related to computer emulated reality experience. This drives the need for virtual reality content to enable businesses brand their image closer to the eyes of consumers. This is a major factor expected to propel the growth of the global market during the forecast period.

Key Benefits for Virtual Reality Content Creation Market:

  • This study includes the virtual reality content creation market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the virtual reality content creation market.
  • The virtual reality content creation market forecast is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.

Virtual Reality Content Creation Market Report Highlights

Aspects Details
By Content Type
  • Videos
  • 360 degree photos
  • Games
By Component
  • Software
  • Services
By End User
  • Real estate
  • Travel and hospitality
  • Media and entertainment
  • Healthcare
  • Retail
  • Gaming
  • Automotive
  • Others
By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, UK, France, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players 360 Labs, Blippar, Koncept VR, Matterport, Inc., Panedia Pty Ltd, Pixvana Inc., Scapic, Subvrsive, VIAR, WeMakeVR
 

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Virtual reality (VR) technology is being recognized across diverse industry verticals as an alternative to physical test. For example, in chemical production industry VR can help to demonstrate catastrophic outcomes in terms of fail test of chemical combinations. Furthermore, in manufacturing VR can help in visualizing the dismounted vehicle for futuristic designing without the need to build the actual model.

In accordance with several R&D and on-going activities associated with virtual technologies, the need for virtual environment products is driving the market at a significant rate across various industry level. Therefore, virtual reality devices are gaining high traction, which in turn increases the demand for high definition content.

The major challenge for content creators is the content piracy that downscales the grade of its products. On a contrary, stringent government data piracy policies are ceasing the unauthorized creation of duplicate high definition content creations modes. This in turn is supporting the growth of the global virtual reality content creation market during the forecast period. Furthermore, rise in demand for enhanced graphical videos is also a factor expected to fuel the growth of the market. Proliferation of virtual reality devices in education further propels the demand for virtual reality content.

The global virtual reality content creation market in North America and Asia-Pacific are witnessing rapid growth rate, owing to immense scope for enhancement and traction of emerging technologies across various industry verticals. In addition, majority of market players are operating in these regions, as North America has well-developed IT infrastructure and Asia-Pacific is witnessing significant advancements in its IT infrastructure. Further, favorable government initiatives in Asia-Pacific that support digitalization and high penetration of smart electronics fuel the market growth.

The key players operating in the global virtual reality content creation market include Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana Inc., and Scapic. These players have implemented various revenue growth strategies to develop and enhance their product portfolio, strengthen their virtual reality content creation market share, and increase their market penetration.

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