VR Content Creation Market - Global Industry Analysis, Size, Share, Growth, Forecast 2024

The global market for virtual reality (VR) content creation hosts a number of market players who want to invent innovative technologies in order to earn a greater market. The resources at the disposal of these players vary across a wide spectrum of the market, and there is also a great level of variation in the size of these players. In recent times, forming partnership and alliances with smaller companies has become the catchphrase of well-established market players. This is done to fetch a wider geographical reach and penetrate local markets without any hassles. The aforementioned factors helped Transparency Market Research (TMR) is estimating that the competition would intensify in the market in the coming years. The key market players include Blippar, Voxelus, and Matterport. Companies within the VR content industry are also expected to resort to acquisition of other companies in order to grow their market share.

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Transparency Market Research (TMR) presents a report that throws light on the market dynamics and forecasts the future success of the global market for VR content. The market is anticipated to inflate at a commendably high CAGR of 89.8% over the period from 2016 to 2024. The market value that was worth US$147.5 mn in 2015 is projected to rise to an astral figure of US$41.01 bn by the end of 2024. These are plush figures that show the bright prospects of the market over the forecast period. Based on the end-user categorization, the gaming segment is anticipated to bring in high revenue into the market. This segment accounted for a little below 50% of the total market share within the end-use segment. If we analyze the regional markets, North America exhibited positive results in the years 2016 and had a market share of 73.4% in the same year. Despite the prominent position of the North American Market, the market in Asia Pacific is expected to register the highest growth rate over the forecast period.