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Global virtual reality content creation market is estimated to grow with approx. 90.1% CAGR during the forecast period 2016–2023. Virtual Reality (VR) content creation is the video sharing platform that provides virtual reality environment through web-browser. It enables the creation of virtual assets such as apps and cinematic view. Virtual reality is a technology that uses virtual reality headsets with multi-projected environment to create realistic images, sound and other sensation that stimulate a user’s physical presence in a virtual environment. Global virtual reality content creation market is primarily driven by following factors:
Advantage of this technology is that it helps health care professionals to learn new skills without causing any danger to patients. In healthcare sector, virtual reality is mostly used as a diagnostic tool which can help the physicians to get clear images of organs. Investments in development of software that supports creation of enhanced 360° video for VR headsets using multiple action camera are trending in the market. For example, video stich, a startup company from France, grabbed a capital funding of $2.25 million for its real time live 360° video feed production software using multiple action camera. VR content creation tools open doors into the world of virtual market that includes pre-production activities, development of sketch shoot and post-production. Enterprises which are engaged in the virtual reality content creation, use advanced cameras and software. The global VR content creation market is estimated to grow impressively due to various factors such as technological advancement, increasing application in travel, media and entertainment and rising demand for the gaming sector all over the world. It provides realistic view of design and space. It can be formed as video/movies on various VR headsets & devices present in the market. The major challenges global VR content creation market faces are high initial investments and lack of skilled personnel. Increase in demand of virtual reality content creation in the developing countries lead to immense growth of the market across the region. The major challenge of global VR content creation market includes high cost of VR content devices such as 3D cameras.
Source: OBRC Analysis
The global virtual reality content creation market segments include content type, solution and end-user. Content type segment is further segmented into:
Solution segment is further segmented into:
End-user segment is sub segmented into:
The revenue for the above end-user segments are specific to the global virtual reality content creation market. However, the total revenue of these end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up content type and solution segment. However, the solution segment which includes software solution and service and excludes hardware solution.
Geographically, the global virtual reality content creation market is segmented into:
The primary factors which are responsible for the increase in demand of VR content creation market in North America and Europe are the rise in adoption of new technologies such as virtual reality and rising of gaming culture. Increased use of VR technology in movies and healthcare is enhancing the market and have created numerous scopes for future advanced healthcare infrastructure in VR content creation market of North America and Europe. Improved healthcare has also increased the demand of VR technology due to better diagnosis by proving clearer images of internal organs in 3D. Asia Pacific emerges as the fastest growing market for VR content creation due to innovation in the technologies, rising awareness and exposure of virtual reality and entry of various key players in the market. Countries such as India and China are estimated to grow in global VR content creation market in term of revenue.
VR content creation market is segmented on the basis of content types, solution and end-user. Based on the content type VR content creation is further segmented into videos, 360 degree photos and games. Google introduces street view app to create 360 degree photos. It captures everything in little rotation. Market share of this 360-degree photo is expected to increase with the highest rate during the forecast period. On the basis of solution VR content creation market is sub divided into software and service. Based on end-user VR content creation market is further segmented into real-estate, travel, hospitality & events, media & entertainment, retail, gaming, automotive and others. Gaming is one of the emerging markets for the growth of VR content creation market and shares largest market size in terms of revenue. Gaming market is expected to rise during forecast period with the increasing demand of new 3D games all over the world.
The major market players of the global virtual reality content creation market are:
Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. For example, on 10 March 2017, Littlstar, New York based virtual reality company partnered with CJ Powercast to launch localized version of its VR content app in South Korea to expand its market growth.
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At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global virtual reality content creation market offers the longest chain of market segmentation covering major market segmentation based content type, solution and end-user. The report tracks the major market trends in the global virtual reality content creation market such as growing adoption of VR content creation in enterprises and gaming industries, technological advancement and so on. For each market segments covered in global virtual reality content creation market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the virtual reality content creation industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global virtual reality content creation market.