-- 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.
The global virtual reality content creation market was estimated at $431.3 million in 2018 and is expected to hit $46.54 billion by 2026, registering a CAGR of 77.1% from 2019 to 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.
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.
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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.
Profiling Key Players: Blippar, 360 Labs, Matterport, Koncept VR, SubVRsive, Panedia Pty Ltd., WeMakeVR, VIAR (Viar360), Pixvana Inc., and Scapic.
Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
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