Global Virtual Reality Content Creation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Virtual Reality Content Creation Market: Overview

“The global Virtual Reality Content Creation Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Virtual reality creates a digital environment using computer technology to provide a read lifeline experience to users. There are two flavors of VR – wired and wireless.

In a wired VR solution, the head-mounted display is generally connected to a gaming platform in order to take advantage of the power of the computing solutions that the device offers. In wireless VR solution includes inexpensive slot-in plastics or cardboard with an insert slot for a smartphone.

Global Virtual Reality Content Creation Market: Dynamics

The rising adoption of virtual reality technology across various end-use industries such as manufacturing, retail, healthcare, marketing, entertainment, and education is a key factor expected to drive the growth of the global market over the forecast period.

In addition, the increasing adoption of VR technology in the gaming sector for various platforms such as computers, PlayStations, smartphones, laptops, and tablets is another factor expected to further fuel the growth of the target market in the near future. Vanguard V, Adventure Time, Proton Pulse, Grand Theft Auto VR, Rez Infinite, Need for Speed No Limits VR, Thumper, Hover Junkers, and Kittypocalypse, are some VR based games.

Furthermore, innovative product developments such as the development of head-mounted displays, and smart glasses, and the rising adoption of this technology by organizations for various applications such as on the job training, virtual offices, training such virtual meetings, and educational seminars are some other factors expected to propel the growth of this market during the forecast period.

However, high initial investments cost and a lack of a skilled workforce are major factors expected to restrain the growth of the global market over the forecast period. In addition, the high cost of VR content devices such as 3D cameras is another factor expected to hamper the growth of the target market in the near future.

An ongoing trend observed in the target market is increasing investment activities by major manufacturers for the development of software that supports creation of enhanced 360° video for VR headsets using multiple action cameras.

Technological advancements and the development of various software tools and hardware suits are expected to create tremendous opportunities for players operating in the target market over the forecast period.

Global Virtual Reality Content Creation Market: Segment Analysis

On the basis of application, the gaming and entertainment segment is expected to register significant growth in terms of revenue and is expected to continue its dominance over the forecast period, owing to increasing technological advancement in VR headsets such as PlayStation VR and HTC Vive.

Global Virtual Reality Content Creation Market: Regional Analysis

The market in North America is expected to dominate the target market and is expected to continue its dominance over the forecast period, owing to the increasing adoption of new technology such as virtual reality and the prevalence of video gaming culture across various countries in the region.

The market in the Asia Pacific is expected to register the highest CAGR over the forecast period, owing to increasing VR-based startups across various countries in this region.

Global Virtual Reality Content Creation Market Segmentation:

Segmentation by content-type:

• Videos
• 360 Degree Photos
• Games

Segmentation by component:

• Software
• Services

Segmentation by application:

• Gaming and Entertainment
• Engineering
• Healthcare
• Real state
• Retail
• Military
• Education
• Others (Travel, Automotive, and Events)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa