Global VR Content Creation Market Size, Outlook and Forecast By 2023
Posted by Aditi Desai on January 29th, 2019
VR content creation is a method of creating content virtually. It may look like real content but it has been demonstrated by using various kinds of tools. With the significant rise in virtual reality, content creation is always a significant question. We can define Virtual reality as a computer-generated simulation of a 3-D image that is interactive and virtual but looks like a reality. With such popularity, VR content creation market is at a rising pace. There is a strong growth of businesses like Real Estate, Tourism, Education and many more which in turn driving the growth of this market.
Currently, VR content creation requires the following five components –
1. 100% computer generated
2. 3D special or Binaural audio
3. VR HMD
4. 360 degrees fully immersive
5. Sensors for real-time interaction
VR Content Creation Market Insights –
According to a recent report, VR content creation market research says that the market will see decent growth in the coming years. The forecasted report says that currently the market is accounted for USD XXX Million in 2017 and can rise up to USD XXX Million in 2023. The market research is completely based on proper research, fieldwork and expertise. The research report presents VR content creation market trends, its methodologies, advantages, disadvantages, and application process. Besides, the basic overview section research also presents separate segmentation analysis, geographical analysis, and competition analysis. While describing the segmentation, the market has been divided into small segments and sub-segments to understand the dynamics of the industry. The global region wise and geographical part takes all the major regions and analyzes which country has the highest demand for this market. Moreover, coming to competition analysis, key competitors have been listed. The research will also tell you about the recent product launch by competitors, key practices adopted to capture the market share and customer pain points.
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Types of Virtual Reality Content –
· VR Content by making 360 Videos - It is a perfect way to create impressive videos and take out experiences from any event or location in the world. This method requires little equipment but comparably cheaper. For basic video, you may require a spherical camera with 360-degree lens or drone is also an option.
· 3D Animation in Virtual Reality – For 3D animation, it's all about how much fantasy and creativity you have. You can make a superb VR content using 3D animation. In 360 videos, there is a limitation on the view prospect; however, in this method, you can see the object from any sphere.
Segmentation Analysis –
The VR content creation market forecast divides the market comprehensively into various segments like by content type, by end-use sector and by solution. By content type, the market has been sub-segmented as videos (360 degrees), Immersive, 360-degree photos and Games. By end-use sector market has been sub-divided into Real Estate, Travel, Hospitality, Events, Media and Entertainment, Retail, Gaming, Automotive, and Others. By solution, the market has been comprehensively divided as software, application, and services. Each segment undergoes the forecasted figures that it is going to contribute to the market share. Also, BPS analysis and market attractiveness have also been provided for every segment in the report.
China to rule the VR Content Creation Market -
While doing geographical analysis, the market has been divided into following regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions have been sub-segmented into further countries. For example, North America includes the analysis of countries like USA and Canada. While, Europe consists of Germany, the United Kingdom, France, Italy, Spain, Russia and Rest of Europe. Moreover, Asia Pacific includes China, India, Japan etc.
The research says that the Asia Pacific will boom the market. China will rule the number position in VR content creation market size followed by India and Bangladesh.
Competitor Analysis –
The VR content creation market share has been divided into various big giants. While more and more entrants are entering the industry and making their place, some of the key giants which already have a big foot in the market are Koncept VR, VOXELUS., SubVRsive, Panedia Pty Ltd., WEMAKEVR, 360 Labs, MATTERVR and Elysian Studio Private Limited (Meraki), Matterport, Wevr, Vizor, Blippar etc.
All these market giants understand this evergreen market and launch new strategies that could drive growth and also understand customer’s pain points too. For example, SubVRsive is an immersing technology based company in Austin having expertise in virtual and augmented reality. They have an aim to solve the problems in a unique way. Their services are targeted to bring ambitious ideas to life.
So, VR content creation is a new and integrated market that has a very fruitful future for new investment. The report also covers the techniques, challenges that a new entrant should aspire from.
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