Virtual Reality Content Creation Market - Overview
Virtual reality (VR) content creation is software used in creating immersive experiences via different types of mediums. The mediums can be games, education, and others for providing entertainment or knowledge through a 360 degree perspective. The global Virtual Reality Content Creation Market report by Market Research Future (MRFR) provides a clear outline on various niches and trends in VR coupled with drivers and challenges to be aware of in the period of 2019 to 2025 (forecast period). The COVID-19 outbreak and its impact on the industry are also included.
Virtual Reality Content Creation Market Scope
Global Virtual Reality Content Creation Market is expected to register a CAGR of 76.5% during the review period, 2019–2025. Rising demand of head-mounted displays by individuals and lowered costs of VR devices can drive the market demand significantly. Increasing demand for immersive experiences and its potential in entertainment and gaming sectors can bode well for the market.
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Rollout of VR content by TV channels for increasing the retention of viewers can drive the market demand. Recently, RTV Slovenia implemented VR for covering important announcement and news and registered 5,000 viewers in 2 minutes. According to a study by researchers at CUB Erasmus Hospital, Belarus, VR can improve tolerance of local anesthesia required for orthopedic procedures. The research indicated a drop in requirement for intravenous sedation by 50% for patients at the hospital.
But lack of awareness of benefits of VR in developing economies can impede the market growth.
Virtual Reality Content Creation Market Key Players
- 360 Labs
- Koncept VR
- Panedia Pty Ltd.
- VIAR (Viar360)
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Virtual Reality Content Creation Market Segmentation
GLOBAL VIRTUAL REALITY CONTENT CREATION MARKET SIZE ESTIMATION & FORECAST, BY CONTENT TYPE
- 360-DEGREE PHOTOS
GLOBAL VIRTUAL REALITY CONTENT CREATION MARKET SIZE ESTIMATION & FORECAST, BY COMPONENT
GLOBAL VIRTUAL REALITY CONTENT CREATION MARKET SIZE ESTIMATION & FORECAST, BY END-USER
- REAL ESTATE
- TRAVEL AND HOSPITALITY
- MEDIA AND ENTERTAINMENT
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Virtual Reality Content Creation Market Regional Analysis
North America dominated the global virtual reality content creation market in 2018 and is expected to have the largest market share during the forecast period. The growth is majorly attributed to the availability of well-developed IT infrastructure. Also, high IT spending capability of the countries in North America also supports the growth of virtual reality content creation in this region. Improvement in tolerance levels of anesthesia using VR is an indicator of the large potential for the market.
The market in Asia Pacific is expected to register the highest CAGR over the forecast period owing to increasing emergence of VR based startups across various countries in this region. Introduction of 5G networks and adoption of VR games by consumers are major drivers of the regional market.
Key Points Covered in the Report:
- The Virtual Reality Content Creation research assesses the industry’s share in terms of demand and supply, as well as volume.
- The study mentions the market share acquired by each product category in terms of consumption value and volume.
- The report meticulously discusses financial records of cumulative sales and overall income gathered by each product category.
- The study includes information on the major organizations’ sales, product pricing methods, revenue shares, and gross margins.
- The operational base of the listed enterprises throughout many locations, as well as their distribution methods, is considered.
- There is also information on the market concentration ratio, partnerships, alliances, acquisitions, new rivals, and other significant changes.
Major Points from TOC:
- Global Virtual Reality Content Creation Market Overview
- Executive Summary
- Production and Capacity by Region
- Production, Revenue, Price Trend by Type
- Key Players Analysis
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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