How big is the virtual reality content creation market?

IMARC Group, a leading market research company, has recently releases report titled "Virtual Reality Content Creation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global virtual reality content creation market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 60.1 Billion by 2028, exhibiting a growth rate (CAGR) of 58.5% during 2023-2028. 

What are Virtual reality (VR) content creation?

Virtual reality (VR) content creation represents computer-based applications that enable creators to design and conceptualize several stimulated assets or cinematic views to provide an immersive user experience. It usually involves the development of pre-production activities, shoot, sketches, production, and post-production as standard phases. To create virtual content during these stages, enterprises use numerous approaches, advanced software, tools, cameras, etc. Presently, VR content creation is produced via two practices, including computer generation, in which every aspect across the globe is designed, synthesized, and integrated through code. In line with this, it assists in introducing collaborations, enhancing customer engagement, performing campaigns, allowing content marketing, etc. Consequently, virtual reality content creation is extensively utilized by industries for engineering, marketing, and designing content for training or promotional purposes.

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What are the growth prospects and trends in the Virtual Reality Content Creation Industry:

The expanding media and entertainment sector and the escalating demand for 360-degree and other innovative marketing approaches to offer exquisite user experience are primarily driving the virtual reality content creation market. Additionally, the inflating need for effective head-mounted display (HMD) systems, including augmented reality (AR) and VR, is further catalyzing the market growth. Besides this, the increasing adoption of immersive indoor gaming to enjoy the interactive three-dimensional (3D) environment, especially during the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Moreover, the growing utilization of the telepresence concept by brands and marketers to provide computer-emulated reality experiences and create brand awareness is also positively influencing the global market. Apart from this, the introduction of visual display systems, such as smartphones and desktops, is projected to fuel the virtual reality content creation market in the coming years.

List of Major Key Players:

• 360 Labs

• Blippar Group Limited

• Dell Inc

• Koncept VR LLC

• Matterport Inc.

• Panedia Pty Ltd.

• Scapic Innovations Private Limited

• Subvrsive

• VIAR Inc and WeMakeVR.

What is included in market segmentation?

Breakup by Content Type:

• Videos

• 360 Degree Photos

• Games

Breakup by Component:

• Software

• Services

Breakup by End User:

• Real Estate

• Travel and Hospitality

• Media and Entertainment

• Healthcare

• Retail

• Gaming

• Automotive

• Others

By Geography:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

Key highlights of the report:

• Market Performance 

• Market Outlook 

• Porter's Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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