Virtual Content Creation Market To Reach $25.49 Billion By 2030

Virtual Content Creation Market Growth & Trends

The global virtual content creation market size is anticipated to reach USD 25.49 billion by 2030, registering a CAGR of 25.7% from 2023 to 2030, according to a recent report by Grand View Research, Inc. The growing demand for Virtual Reality (VR) content and video games among individuals is attributed to the integration of VRtechnologies into the products as it offers a more immersive experience to end-users. In addition, the easy accessibility of cost-efficient and practical VR devices in the entertainment and gaming sector is expected to drive market growth over the forecast period.Moreover, the rise in cloud-based virtual content creation tools is making it easier and more cost-effective for content creators and businesses to produce virtual content.

This is augmenting the growth of the market by lowering the entry barriers for new content creators. Furthermore, virtual content creators are considering creating content that can be enjoyed and accessed across multiple platforms owing to the availability of numerous devices and platforms, which isanothergrowth-driving factor. Several companies focus on launching new products and offerings to attract a more extensive customer base and strengthen their foothold in the industry. For instance, in December 2022, XR Immersive Tech Inc., a VR and AR entertainment company, launched PortalX, a VR hardware Kiosk that can be used for several sectors, such as healthcare, retail, gaming, and entertainment, among others. This, in turn, is expected to propel market growth during the forecast period.

 Request a free sample copy or view report summary: Virtual Content Creation Market Report

Virtual Content Creation Market Report Highlights

• Based on content type, the videos segment accounted for a significant market share of around 35% in 2022 as a result of the trend of VR video consumption across various devices

• Based on solution type, the software segment accounted for the largest market share in 2022 due to the growing demand for custom VR software for VR headset products

• The media & entertainment end-use segment is expected to grow at a significant CAGR of over 25% from 2023 to 2030 as a result of the growing VR content and affordable VR headsets

• North America accounted for the largest revenue share of around 30% in 2022 due to a high level of technology penetration in the region

Virtual Content Creation Market Segmentation

Grand View Research has segmented the global virtual content creation market based on content type, solution type, end-use, and region:

Virtual Content Creation Content Type Outlook (Revenue, USD Million, 2018 - 2030)

• Videos

  • 360-degree Photos

  • Games

• 360-degree Videos

• Immersive Videos

Virtual Content Creation Solution Type Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Services

Virtual Content Creation End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Media & Entertainment

• Travel & Hospitality

• Real Estate

• Retail

• Gaming

• Healthcare

• Others

Virtual Content Creation Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa (MEA)

  • Saudi Arabia

  • South Africa

List of Key Players in the Virtual Content Creation Market

• Matterport, Inc.

• WeVR

• Vizor

• KonceptVR LLC

• Porcellus, Inc.

• 360 Labs

• Blippar Group Ltd.

• Panedia Pty. Ltd.

• Scapic Innovation Pvt. Ltd. (Flipkart)

• Subvrsive, Inc.

• VIAR Inc.

• WeMakeVR