Rise in demand for high quality content such as 4K among individuals coupled with high availability of cost-efficient VR devices are major factors expected to drive the growth of the global virtual reality content creation market during the forecast period. Ongoing modernization of visual display electronics such as TV, desktops, and others are proliferating the demand for VR content owing to its ability to adapt to surrounding environments displaying systems and provide virtual simulations. Moreover, rise in sales of head-mounted display (HMDs) especially in gaming and entertainment sector is another factor anticipated to propel the growth of the global virtual reality content creation market. However, concerns associated with VR content piracy is a factor that hampers the growth of the global virtual reality content creation market to a certain extent. Furthermore, rise in diversification applications of VR in various industries is an opportunistic factor for the players operating in the market, which in turn is expected to fuel the growth of the global market.
The virtual reality content creation market is segmented on the basis of content type, component, endouse 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 endouse 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.
The 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.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analyses on the global virtual reality content creation market size is provided.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2018 to 2026 is provided to determine the global virtual reality content creation market potential.
KEY MARKET SEGMENTS
Content Type
- Videos
- 360 Degree
- Immersive
- 360 Degree Photos
- Games
Component
- Software
- Services
Endouse Sector
- Real Estate
- Travel & Hospitality
- Media & Entertainment
- Healthcare
- Retail
- Gaming
- Automotive
- Others
By Region
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Blippar
- 360 Labs
- Matterport
- Koncept VR
- SubVRsive
- Panedia Pty Ltd.
- WeMakeVR
- VIAR (Viar360)
- Pixvana Inc.
- Scapic
Table of Contents
Executive Summary
According to the report titled, 'Virtual Reality Content Creation Market by Content Type, Component, and End-use Sector: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the virtual reality content creation market size was valued at $431.3 million in 2018, and is projected to reach $46.5 billion by 2026, growing at a CAGR of 77.10% from 2019 to 2026.Virtual reality (VR) is among one of the key technologies that provides interactive virtual experiences to end-users. VR content is the data that helps end-user to experience the VR environment. For example, a VR software game displays virtual simulations to the end-user and allows them to interact with the virtual environment. Increase in demand for head-mounted display (HMDs) in gaming and entertainment sector due to its virtualization ability is a key factor expected to drive the growth of the global virtual reality content creation market.
VR content allows end-user to experience 3D modelling and animation effects. This has propelled the demand for VR content among various industry verticals. Rise in development in computer animation fosters the need for VR content to stay competitive in the market. This in turn is also expected to drive the growth of the market during the forecast period. Moreover, the growth in demand for high-resolution VR headset among individuals is attributing to increase the demand for high quality content at a significant rate. This is one of the major factors expected to fuel the VR content creation market growth.
Based on content type, the videos segment dominated the overall virtual reality content creation market in 2018, and is expected to continue this trend during the forecast period. This is attributed to rise in demand for virtual reality content among the gaming industry that provides immersive videos for exquisite experience,
Moreover, high demand for virtual reality video content from various industry verticals is a major factor anticipated to drive the growth of this segment in the global VR content creation market. For example, in gaming industry the video games are developed by using various software simulations that replicate the virtual reality video segment real-world with the help of captured videos. Furthermore, 360 Degree Photos segment witnessed significant growth in the virtual reality content creation market share in 2018 and is further expected to continue this drift during the forecast period.
The gaming industry dominated the virtual reality content creation market in 2018 and is expected to proliferate the adoption of virtual content during the forecast period. This is attributed to the rise in number of virtual reality games launched and the development of virtual reality gaming equipment. Further, the healthcare segment is expected to witness the highest CAGR during the forecast period as the healthcare industry is opting for digitalization solutions and are inclining toward increase in its clinical trials through technological advancements. This in turn creates lucrative opportunities for the players operating in the global market which in turn is expected to drive the virtual reality content creation market growth in the coming years. Furthermore, the automotive industries have witnessed significant growth rate in 2018 and is further expected to increase its adoption during the forecast period.
Key Finding of The Virtual Reality Content Creation Market:
By content type, the videos segment dominated the virtual reality content creation market. However, the 360 degree photos segment is expected to exhibit significant growth during the forecast period in the virtual reality content creation industry.
Based on component, the software segment accounted for the highest revenue in 2018.
Depending on industry vertical, the gaming industry generated the highest revenue in 2018. However, healthcare sector is expected to witness considerable growth in the near future.
Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the upcoming years.
Some of the key market players profiled in the report include Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana Inc., and Scapic.
Major players operating in this market have witnessed high growth in demand for high quality virtual reality content especially due to rise in consumers demand for virtual reality applications. This study includes virtual reality content creation market analysis, trends, and future estimations to determine the imminent investment pockets.'
Companies Mentioned
- lippar
- 360 Labs
- Matterport
- Koncept VR
- SubVRsive
- Panedia Pty Ltd.
- WeMakeVR
- VIAR (Viar360)
- Pixvana Inc.
- Scapic
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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