VR Content Market Size

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VR Content Market Size

The global virtual reality software and services market size was $4.74 billion in 2018.

Market Size and Growth

  • In 2018, the global virtual reality software and services market size was about $4.74 billion.
  • Through 2022, the annual growth is expected to 42.2% which will result in a market value of $19.38 billion in 2022.
  • Real time simulation software, 3D modeling software, and 360 degree custom VR software are the segments included in the market sizing. "Some examples of products and services in this market include Google VR services and 3D Modeling Software's like AutoCAD, Zbrush and 3DS Max."
  • The largest region by market share in 2018 was Asia Pacific.
  • Major players include Google, Facebook, and Zappar.

VR Content Creation

  • In 2018, the global virtual reality content creation market size was $431.3 million. This market includes both software and services.
  • The VR content creation industry includes the software and tools that are used to create VR content, and it is likely this is a separate market from that provided above.
  • The content included in the market sizing is videos, games, and 360 degree photos. Although specific numbers for each segment are behind a paywall, videos are the largest segment, followed by 360 degree photos, and then games.
  • North America holds the largest share of the VR content creation market, partly because there is a strong IT infrastructure in the region.
  • Some key players in this market are Blippar, 360 Labs, Matterport, Koncept VR, and SubVRsive.

Challenges

  • Storage capacity is a challenge in the VR content market because cloud storage is not generally an option since files need to be updated regularly.
  • With many companies entering the space, there are no guidelines to maintain consistency across platforms. For the consumer, this means that they are limited to using software that is specific to the hardware they own.
  • The experience for consumers is not yet such that it is a not to be missed experience. Until the experience is improved, there will be issues with widespread adoption.
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Sources