New York, United States, August 02, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “Global VR content creation market information by content type, component, end user and region – forecast to 2027“The market size is expected to grow at a compound annual growth rate of 76.5%.
Scope of the VR content creation market:
The global virtual reality content creation market is experiencing rapid traction. The market is driven by the increasing demand for VR content in the marketing industry to deliver exquisite customer experience marketing strategies to various end users. With the growing use of VR Headsets (HMDs) among home users and VR devices in the gaming and entertainment industry, the market is expected to experience a substantial increase over the next seven years.
The Major Key Players in the Covered VR Content Creation Market are:
- 360 Laboratories
- Koncept VR
- Panedia Pty Ltd.
- VIAR (Viar360)
- Pixvana Inc.
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USP market exclusively encompassed:
The Proliferation of the Online Gaming Industry Has a Positive Impact on the VR Content Creation Market
Architects, developers, content creators, artists, VLAND owners and users all contribute to an exciting, visually stimulating, fun and thoughtful world. In online games, virtual reality solutions are used to enable influencers to participate, create and publish content through their channels and explore new methods of content production.
In the media and entertainment industry, virtual reality technologies are used to create interactive content, architectural and theatrical design, and improve the functioning of sites. Technological advancements have created opportunities for companies to integrate virtual reality solutions in the areas of learning and education and media and entertainment. Virtual reality upgrades are proving to impact many industries, improving production efficiency and increasing profitability while eliminating security incidents.
In addition, increased investment by travel and hospitality, healthcare, gaming and automotive companies is accelerating the growth of the market. In addition, investments in cloud-based online education infrastructure to gain greater control over the entire range of learning management are increasing the size of the market.
Lack of Awareness of Benefits of Virtual Reality Devices Limits Market Growth
Many developing economies are still not aware of the benefits of virtual reality devices which is a major factor that is expected to hold back the growth of the market. In addition, the lack of IT infrastructure is slowing the growth of the market. Simultaneously, financial restraints and limited expertise are significant challenges which are expected to hamper the growth of the market.
Browse the in-depth market research report (111 pages) on the VR Content Creation Market:
North America dominates the global virtual reality content creation market. The availability of a well-developed IT infrastructure and the high IT spending capacity of North American countries are supporting the growth of the market. In addition, the presence of key technology providers in the region enabling content creators to produce VR on their own justifies the size of the market.
The strong adoption of virtual reality technologies which can make the whole marketing and education experience interactive, integrating with related concepts, is increasing the market share. In addition, the increasing adoption of virtual reality solutions in a number of verticals to improve production efficiency, eliminate security incidents and increase profitability is driving the market growth.
The region is on its way to becoming a smart factory, increasing market demand to improve operational efficiency and deliver excellent experiential learning and incredible return on investment (ROI). Additionally, the rapidly growing online gaming industry in the region is driving the adoption of virtual reality technologies to enable influencers to participate, create and publish content through their channels, and explore new ways of playing. content production.
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Market segmentation covered by research:
The market is segmented into content types, components, end users, and regions. The content type segment is sub-segmented into videos, 360-degree photos, and games. The components segment is sub-segmented into software and services.
The end user segment is further subdivided into real estate, travel and hospitality, media and entertainment, healthcare, gaming, automotive and others. The regional segment is sub-segmented into Europe, North America, Asia-Pacific, Middle East & Africa, and Rest of the World.
Impact of COVID-19 on the Global Virtual Reality Content Creation Market
The COVID 19 pandemic has had a positive impact on the virtual reality content creation market. Lockdown, physical distancing warrants and security protocols have boosted the gaming industry and OTT platforms. This, therefore, increases the adoption of VR devices to handle the entire range. With the disruption of COVID 19 expected to continue for a few years, the virtual reality content creation market is further expected to create a substantial revenue pocket.
VR Content Creation Market: Competitive Analysis
The virtual reality content creation market is witnessing significant product launches and strategic approaches, such as mergers and acquisitions, collaboration, expansion, and product launches. The key players make strategic investments in research and development activities and promote their expansion plans.
For example, recently on June 21, 2021, L’Oréal USA announced that it was expanding its Pinterest activation with a new campaign that leverages Pinterest’s content creation platform, pushing into content marketing. The campaign is L’Oréal’s latest foray into the digital space, expanding its content marketing efforts for its consumer brands.
The partnership begins this week and will run until mid-September. More than 20 Pinterest creators are said to develop branded content for seven L’Oréal personal care affiliates using an abbreviated video feature, Idea Pins. The content would cover beauty tutorials and trends for consumers looking to resume social activity amid the ebb of the pandemic.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, providing comprehensive and accurate analysis of various markets and consumers around the world. Market Research Future has a distinguished goal of providing high-quality research and granular research to customers. Our market research by products, services, technologies, applications, end users and market players for global, regional and national market segments, enables our clients to see more, learn more and do more, which helps answer your most important questions. questions.
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