Press release
Virtual Content Creation: A Comprehensive Global Market Report for 2024
Virtual Content Creation
The virtual content creation market size is expected to see exponential growth in the next few years. It will grow to $17.78 billion in 2028 at a compound annual growth rate (CAGR) of 27.8%. The growth in the forecast period can be attributed to widespread usage of social networking platforms, rising expectations of audiences, increasing demand for personalized content, immersive experiences. Major trends in the forecast period include user-friendly software, rising popularity of VR and AR, product innovations, partnerships.
Market Overview -
Virtual content creation involves the process of designing, producing, and sharing digital materials such as videos, images, and articles in a virtual environment. It is used to engage online audiences, market products and services, and provide educational or entertainment value through digital platforms. This digital content can be distributed across social media, websites, virtual reality platforms, and other online channels to reach a wide audience.
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Exploring The Surge In Virtual Content Creation Via Social Media Platforms
The widespread usage of social networking platforms is expected to propel the growth of the virtual content creation market going forward. Social networking platforms are online services that enable users to create public profiles, connect with friends and others, and share content and communication. The demand for social networking platforms is increasing as it provide convenient ways for people to connect, share information, and entertainment. Virtual content, such as 3D graphics, augmented reality (AR), and virtual reality (VR) experiences, can capture users' attention and provide a more immersive and interactive environment that leads to social media users spending more time on the platform. For instance, in November 2023, according to a survey conducted by Hootsuite Inc., a Canada-based social media management platform, from 2022 to 2023, TikTok's usage increased by 16%, LinkedIn by 5%, and Instagram by 1% for business purposes. Therefore, widespread usage of social networking platforms is driving the growth of the virtual content creation market.
Competitive Landscape -
Major companies operating in the virtual content creation market are Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Nvidia Corporation, Adobe Inc., Aptara Inc., Epic Games Inc., Avid Technology Inc., Valve Corporation, Corel Corporation, Magic Leap Inc., Matteport Inc., HTC Corporation, Pimax Inc., Canva Inc., Varjo Technologies Oy, Acrolinx GmbH, PicsArt Inc., Subvrsive Inc., StarVR Corporation, Blippar Group Ltd., VIAR Inc., Panedia Pty. Ltd., Scapic Innovation Pvt. Ltd., MarketMuse Inc.
Flipside XR Introduces Groundbreaking VR Application For Creators
Major companies operating in virtual content creation are focused on developing innovative products, such as Flipside Studio, to boost their revenue in the market. The app is designed to empower video content creators to harness virtual reality for creative expression, and it is compatible with Meta Quest 2 and Rift/Rift S VR headsets for motion capture technology, making animation production easier. For instance, in March 2023, Flipside XR, a Canada-based virtual reality company, launched Flipside Studio, a virtual production studio app. It has around 100 virtual production tools, such as bespoke avatars, solo or collaborative performance capabilities, and extensive support for different character types. The app also features a secure messaging platform and an audio browser enriched with various music, voices, and sound effects. This platform aims to enable video creators to explore and innovate within virtual reality.
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Key Segments -
The virtual content creation market covered in this report is segmented -
1) By Solution Type: Services, Software
2) By Content Type: Videos, Immersive Videos, 360-Degree Photos
3) By Enterprise size: Large Enterprises, Small And Medium Enterprises
4) By End User: Automotive, Travel And Hospitality, Media And Entertainment, Healthcare, Real Estate, Gaming, Retail, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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