Global VR AR Content Creation Market Ecosystem was valued at US$ 385.5 Mn in 2018 and is expected to grow with a CAGR of 18.5% during the forecast period. Increasing demand for AR VR devices among the population is driving the growth of the VR AR Content Creation Market Ecosystem. At the same time, the increasing number of AR VR headset manufacturers such as Google, HTC, Oculus, and others, is one of the major factors in accentuating the demand for VR AR content creation. Content is distributed on a range of devices such as Oculus Go, Oculus Rift, Samsung Gear, and others, in order to provide users an immersive experience. Users are expected to download the content on their smartphones from google store, Oculus store, and so on.
Moreover, the growing demand for 360 videos is creating opportunities for content creators to provide content for this type of video. Augmented reality applications mainly run on AR capable mobile phones and users are expected to download the application from the app store. The main challenge is to make users download the content on their smartphones due to the poor quality of the internet in locations such as museums and other such places. This, in turn, can hinder the growth of the overall VR AR Content Creation Market Ecosystem.
The outbreak of COVID-19 has bought along with a global recession, which has impacted several industries. Along with this impact, COVID Pandemic has also generated a few new business opportunities for VR AR Content Creation market. The overall competitive landscape and market dynamics of VR AR Content Creation have been disrupted due to this pandemic. All these disruptions and impacts have been analyzed quantifiably in this report, which is backed by market trends, events, and revenue shift analysis. COVID impact analysis also covers strategic adjustments for Tier 1, 2, and 3 players of VR AR Content Creation Market.
Based on applications, the training segment dominated the market in 2018 and is expected to show similar trends in the coming years. VR AR content is mainly used by employers for training and promotional purpose. The global spending for corporate training in 2018 was approximately US$ 130 Bn, which is expected to create demand for VR AR content creation among employers for training their employees. Companies such as Walmart, Boeing, UPS, and others are using AR VR for training purposes, which has been driving the demand for VR AR content creation in recent years. Boeing has reduced its operational time by 25% due to the use of augmented reality headsets. This has also enabled the company to eliminate errors during maintenance and thus, enhance productivity.
Further, Agco, a U.S.-based agriculture equipment company manufacturer, has managed to reduce the time of inspection by 30% due to the use of augmented reality in training programs. As augmented reality is increasingly used for training by companies, the demand for VR AR content creation is expected to increase in the coming years. At the same time, as 80% of workforce across the world uses smartphones or tablets at work, this will create opportunities for AR VR training in the coming years. However, security issues associated with corporate training applications are expected to hinder the growth of the segment to some extent. Capabilities of AR smart glasses to provide real-time data, remote assistance, and others are also driving the growth of the VR AR Content Creation Market Ecosystem
|By Content-Type||By Application||By End-Use|
Based on regions, North America dominated the market in 2018 and is expected to show similar trends in the coming years. The presence of major players such as Facebook, Google, and others, is one of the major factors in driving the growth of the VR AR Content Creation Market Ecosystem. Asia Pacific is expected to grow at the fastest pace during the forecast period. Growth of the gaming industry in the Asia Pacific has been creating demand for VR AR content creation in recent days. The China gaming market accounted for a revenue of US$ 27.6 Bn in 2017, and this market will dominate the VR AR Content Creation Market Ecosystem in the APAC region.
There are many trends that are having an impact on the market forecast. These, when evaluated from a company’s perspective, can drive growth. Our numerous consulting projects have generated sizeable synergies across all regions and all sizes of companies.
|Company||Ecosystem Positioning||Total Revenue||Industry||Region|
|Next/Now||Software provider||~ US$ 14.9 Mn||Content Creation||Global|
|GameAnax Inc.||Software provider||~ US$ 13.8 Mn||Content Creation||Global|
|Intellectsoft||Software provider||~ US$ 13.8 Mn||Content Creation||Global|
|Apptension||Software provider||~ US$ 7.9 Mn||Content Creation||Global|
|Zco Corporation||Software provider||~ US$ 65.9 Mn||Content Creation||Global|
Very few markets have interconnectivity with other markets like AR VR. Our Interconnectivity module focuses on the key nodes of heterogeneous markets in detail. Internet of things, cloud computing, and 5G integration markets are some of our key researched markets
|Trends||By End-Use||Impact value|
|Virtual reality can imitate the greatest music, entertainment, and sports experience, from live nation concerts to NBA games. The virtual reality sports enable fans to enjoy the game without facing any difficulty due to crowded stadiums.||Consumer Industry||4.61%|
|Rising demand for mixed reality among companies, owing to its increased adoption in the gaming and entertainment industry.||Consumer Industry||0.96%|
|Virtual reality headsets are used by sports associations for training players. National Football League and Major League Baseball are using this platform for training referees and umpires, thus helping them in detecting concussions in players.||Consumer Industry||0.55%|
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