Global VR Content Creation Market Expected To Grow At A CAGR Of 67.0% During The Forecast Period

The latest market report published by Credence Research, Inc. “VR Content Creation MarketGrowth, Future Prospects, and Competitive Analysis, 2019 – 2027” the VR content creation market was valued at US$ 365.0 Mn in 2018 and projected to grow at a CAGR of 67.0% during the forecast period from 2019 to 2027.

Market Insights

“Investment in platforms, devices and software ecosystem will spur revenue growth throughout the forecast period”

The rising demand and popularity for VR content come from various channels, which ultimately created an increased investment flow into the VR content creation market. The entertainment and media industry is the largest consumer of the production of VR content. The growth of the market is fuelled by increasing adoption of 3D technology, rapid advancements in immersive technology growth and development of various tools for creating content for VR among others.

The global market for creating VR content has therefore gained remarkable traction and expected to grow significantly during the forecast period. The voyage to provide customers with enhanced and optimized entertainment experiences has also increased demand and requirement for VR content creation market.

 

Key Market Movements

• Globally, the VR content creation market is set to grow at a CAGR of 67.0% for the period from 2019 to 2027
• North America is leading the VR content creation market in terms of revenue share with more than 40% of global market revenue. Owing to the rapid adoption of VR content creation devices in various industry verticals including gaming and automotive among others. Additionally, rapid adoption of augmented reality and virtual reality and IoT among others boosting the market growth.
• Growing adoption of technologically advanced products along with the content-based applications are some of the key driving forces of the VR content creation market.
• VR content creation is in its initial stage and organizations such as Facebook and QUALCOMM are heavily investing in research and development of these technologies along with setting up centers to develop and analyze innovative technologies and in order to gain a competitive edge in the market.

List of Companies Covered:

• Blippar
• 360 Labs
• Matterport
• Koncept VR
• SubVRsive
• Panedia Pty Ltd.
• WeMakeVR
• VIAR (Viar360)
• Pixvana Inc.
• Scapic.

 

OUR Website: Credence Research – Market Research Consulting Firm San Jose (CA) USA

Our Blog:  Home – Target Market Size

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