A recent report published by Infinium Global Research on VR
content creation market provides an in-depth analysis of segments and sub-segments
in the global as well as regional VR content creation market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional VR content creation market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast, and
dollar values of the global VR content creation market. According to the report,
the global VR content creation market is projected to grow at a CAGR of 81.2%
over the forecast period of 2019-2025.
The VR content creation software is deliberated as
leapfrog of content-based applications owing to its widening scope of use among
end-users. The VR content creation tools are extensively used as an open-source
platform to create immersive experience content. Countless tools used in VR
content creation support in the making of virtual assets, for example,
cinematic views and applications. The development of virtual reality tools is
thus considered the most important advancement, which allowed the customers to
design their 3D ideas in an efficient way. These tools are developed to be user
friendly; therefore the adoption of VR content creation is projected to rise at
a high rate during the projection period.
The demand and popularity for virtual reality content
come from different platforms, which have ultimately created a normal flow of
revenue or income into the market. The growth and development in the 3D market
have enormously powered the global VR content creation market. Various
industries utilizing VR content creation include travel, automobile,
hospitality, retail, real estate, and others. Consequently, the VR content
creation market has gained remarkable traction and is anticipated to grow at a
very high rate in the upcoming years. The excursion to offer enhanced and
improved entertainment experiences to their customers has also augmented the
demand and requirement for the VR content creation market. Furthermore, VR
content creation is gradually also becoming a proficient tool predominantly for
marketing products as well as building stories. This provisions the companies
in stating their iconic brand name and reaping the benefit of improved
marketing. Nevertheless, concerns related to VR content piracy is a factor that
hinders the growth of the global VR content creation market to a certain
extent. Moreover, the rise in diversification applications of VR in numerous
industries is an opportunistic factor for the vendors operating in the market,
which in turn is anticipated to fuel the growth of the market.
Additionally, the current concern over the spread of
coronavirus is also expected to have a positive impact on the VR content
creation market. Physical lockdowns could be a plus for VR content demand, as
individuals and businesses looking to stay connected during the crisis. In the
aftermath of the COVID-19 outbreak, governments and industries are likely to
invest more in technologies such as Artificial Intelligence and Virtual Reality
and Augmented Reality among others. These novel technologies are beneficial for
the environmental situation, early detection, analysis of data, and diagnosis
of diseases. Moreover, in this battle against the epidemic, digital technology,
transformation, and connectivity have become an essential medium or solution to
enhance economic and social resilience.
Among the geographies, North America region is
expected to hold the largest share in the global packaged vegan food market as
countries such as the U.S. and Canada are the front-runners of the adoption of
new technology. Further, factors such as high acceptance of novel technology,
for example, common usage of video gaming practice and virtual reality
particularly in the U.S. have accelerated the growth of the global VR content
creation market in the North American region. However, the global VR content
creation market in the Asia Pacific region is projected to increase with the
highest rate during the forecast period. Cumulative VR based start-ups play an
important role in the growth of the VR content creation market in the Asia Pacific
region.
The report on global VR content creation market covers
segments such as content type, solution, and end-user. On the basis of content
type, the sub-markets include 360 degree photos, videos, and games. On the
basis of solution, the sub-markets include services, and software. On the basis
of end-user, the sub-markets include travel, real estate, media and
entertainment, retail, automotive, gaming, events and hospitality, and other
end-users.
The report provides profiles of the companies in the market
such as 360 Labs, Matterport Inc., Koncept VR, SubVRsive, Panedia Pty Ltd.,
Voxelus, Vizor, WeMakeVR, WEVR, Inc., Blippar, and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of VR content
creation market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the market
share of the leading players.