Virtual Reality Content Creation Market Value to Cross USD 46.54 Billion by 2026

Primary factor expected to fuel virtual reality content creation market growth is rising demand for head-mounted displays in gaming & entertainment sector.

PORTLAND, PORTLAND, OR, UNITED STATES, February 14, 2023 /EINPresswire.com/ — The virtual reality content creation market was valued at $431.3 million in 2018, and it is anticipated to reach $46.54 billion by 2026, growing at a CAGR of 77.1% from 2019 to 2026, according to a report by Allied Market Research. The study offers a thorough analysis of the top investment prospects, top winning methods, market size and projections, competitive environment, and ebb and flow market trends.

Surge in demand for head-mounted display (HMDs) in gaming & entertainment sector, availability of cost-effective virtual reality devices, rise in virtual reality marketing, and high demand for three-dimensional content among various industries drive the growth of the global virtual reality content creation market. On the other hand, lack of awareness regarding the advantages of using virtual reality devices curtails down the growth to certain extent. Nevertheless, penetration of HMDs in healthcare and architectural applications, and use of virtual reality in training, as well as simulation among aerospace & defense and transportation sector, are anticipated to create multiple opportunities for the key market players in the industry.

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The global market is analyzed across content types, components, end-use sectors, and regions. By content type, the videos segment contributed to nearly half of the total market revenue in 2018 and is anticipated to rule the roost during the study period. Simultaneously, the 360-degree photo segment is projected to manifest the fastest CAGR of 81.5% by 2026.

By component, the software segment accounted for more than four-fifths of the total market share in 2018 and is expected to lead the trail till 2026. At the same time, the services segment would portray the fastest CAGR of 83.5% throughout the forecast period.

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By geography, North America garnered the highest share in 2018, holding nearly three-fifths of the global market. Asia-Pacific, on the other hand, would grow at the fastest CAGR of 91.3% from 2019 to 2026. The report has also covered regions such as Europe and LAMEA.

The key market players analyzed in the global virtual reality content creation market report include 360 Labs, Scapic VIAR (Viar360), Matterport, Panedia Pty Ltd., Koncept VR, SubVRsive, WeMakeVR, Pixvana Inc., and Blippar. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their feats in the industry.

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Key Findings of the Study:
• By content type, the videos segment dominated the virtual reality content creation market. However, the 360 degree photos segment is expected to exhibit significant growth during the forecast period in the virtual reality content creation industry.
• Based on component, the software segment accounted for the highest revenue in 2018.
• Depending on industry vertical, the gaming industry generated the highest revenue in 2018. However, healthcare sector is expected to witness considerable growth in the near future.
• Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the upcoming years.

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David Correa
Allied Analytics LLP
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