Virtual Reality Content Creation Market – $46.54 Billion by 2026 with Top Industry Players, AMR Research Report
Using virtual reality in training as well as simulation among the lucrative aerospace and defense opportunities in the industry.
PORTLAND, PORTLAND, OR, USA, July 29, 2022 /EINPresswire.com/ — The increase in demand for head-mounted displays (HMDs) in the gaming and entertainment industry, the availability of reasonable virtual reality devices, the increase in virtual reality marketing, and the strong demand for three-dimensional content among various industries propel the growth of the world virtual reality content creation market.
Based on geography, North America held the largest share in 2018, generating nearly three-fifths of the global virtual reality content creation market. North American countries are now expected to implement virtual reality content creation solutions at a high pace to deliver immersive experiences to their consumers. At the same time, the Asia-Pacific region is expected to grow at the fastest CAGR of 91.3% throughout the estimated period. This is due to the high penetration of virtual reality devices in the region.
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Major industry players such as – Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana Inc. and Scapic.
The global virtual reality content creation industry was estimated at $431.3 million in 2018 and is expected to reach $46.54 billion by 2026, registering a CAGR of 77.1% during the period estimated.
Based on components, the software segment contributed more than four-fifths of the global virtual reality content creation market revenue in 2018 and is expected to rule the roost by 2026. The growing demand for authoring tools of virtual reality content in individuals due to its low profitability is expected to drive the growth of the segment. Simultaneously, the services segment is likely to quote the fastest CAGR of 83.5% during the study period. This is due to the availability of its all-in-one suite.
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Based on content type, the videos segment accounted for almost half of the global virtual reality content creation market share in 2018 and is expected to dominate throughout the forecast period. The increase in demand for 360 degree videos is the main factor fueling the growth. The 360 degree photo segment, on the other hand, would exhibit the fastest CAGR of 81.5% by the end of 2026. The increase in the use of smart phones across the world propelled the growth.
Segmental analysis of the market is provided in qualitative and quantitative aspects. This helps clients identify the most lucrative segment to pursue their investments, based on a comprehensive backend analysis regarding the segmental overview, coupled with a brief salutation of operating organizations and their significant development activities.
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