Press release
Key Driver Shaping the Future Virtual Humans Market From 2025-2034: Metaverse Expansion Fuels Growth in the Virtual Humans Market
Virtual Humans Market Size
The market size for virtual humans has witnessed a remarkable increase over the past years. The market value is projected to escalate from $34.88 billion in 2024 to a substantial $51.94 billion in 2025, with a compound annual growth rate (CAGR) of 48.9%. Factors contributing to this significant growth in the past include increasing use of virtual assistants and chatbots, the expansion of the metaverse, overall digitization, higher smartphone usage, and the prevalence of digitalization.
Expectations predict that the virtual humans market will experience substantial growth in the upcoming years, reaching a monumental size of $252.61 billion by 2029. This is calculated at a compound annual growth rate (CAGR) of 48.5%. This projected increase during the forecast period can be ascribed to various factors such as the burgeoning e-commerce sector, the rising demand for customized experiences, the ongoing evolution of the metaverse, the growing acceptance of digital influencers and an enhanced emphasis on customer experience. Key trends during this period include technological progress, the incorporation of artificial intelligence, multilingual functionality, tailored experiences, and partnerships with influencers.
What Are the Forces Behind the Rapid Growth of the Virtual Humans Market?
The burgeoning growth of the metaverse is projected to fuel the advancement of the virtual humans market. The metaverse, a unified virtual realm collating virtually enhanced physical reality with persistently physical virtual reality, broadens due to a heightened interest in remote work, socialization, digital experiences, economic opportunities, and cultural transitions. Virtual humans, such as digital avatars or virtual entities, hold an indispensable position in the metaverse, symbolizing users, AI-operated characters, or autonomous entities with particular functions. These virtual humans critically influence the user experience in the metaverse resulting in more personalized, intricate, and interactive digital engagement. For example, as per the UK Intellectual Property Office, a government bureau in charge of intellectual property rights within the UK, the metaverse user count is foreseen to surge significantly, estimating around 1.4 billion users and a forecasted market size of $490.4 billion by 2030. Consequently, the widening of the metaverse is propelling the virtual humans market.
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Who Are the Dominant Companies Influencing Virtual Humans Market Trends?
Major companies operating in the virtual humans market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Alibaba Group Holding Limited, Meta Platforms Inc., NVIDIA Corporation, iFLYTEK Co. Ltd., Unity Software Inc., Epic Games Inc., Xsens Technologies B.V., Reallusion Inc., Soul Machines Limited, AltspaceVR Inc., Cubic Motion Limited, Datagen Technologies Ltd., Inworld AI Inc., 3Lateral d.o.o., Faceware Technologies Inc., Offbeat Media Group LLC, Quantum Capture Inc., UneeQ Limited, VNTANA Inc.
Who Are the Dominant Companies Influencing Market Trends?
Market leaders in the domain of virtual humans are concentrating on the evolution of technologically advanced solutions like AI-powered virtual human systems, by means of partnerships, to improve human-computer interaction, fabricate more authentic avatars, and broaden their applications in several sectors. AI-based virtual human technologies are essentially sophisticated systems that use AI to generate digital human depictions which can engage with real people in a credible and smart way. For example, Nvidia Corporation, an American software firm, and Aww Inc., a Japanese virtual human enterprise, joined forces in June 2024, to improve AI-powered virtual human technology, specifically their virtual influencer, imma. This latest version enables real-time dialogue, amplified by NVIDIA's Audio2Face technology, delivering realistic facial movements and lip synchronization. AI imma is crafted to automate the formulation of character-based large language models (LLMs), simplifying the creation and distribution of virtual humans for diverse business use. This collaboration signifies a notable advancement in AI-powered virtual human technology, with the objective to reshape user engagement and interaction in various sectors.
What Are the Different Segmentations in the Virtual Humans Market?
The virtual humans market covered in this report is segmented -
1) By Type: Avatars, Autonomous Virtual Humans
2) By Application: Gaming And Entertainment, Simulation And Training, Virtual Reality (VR) And Augmented Reality (AR), Customer Service And Virtual Assistants, Marketing And Advertising, Other Applications
3) By Industry Type: Banking, Financial Services And Insurance (BFSI), Education, Retail, Healthcare, Automotive, Aerospace And Military, Information Technology And Telecommunications, Gaming And Entertainment, Marketing And Advertising, Other Industries
Subsegments:
1) By Avatars: 2D Avatars, 3D Avatars, Customizable Avatars, Realistic Avatars
2) By Autonomous Virtual Humans: AI-Powered Virtual Assistants, Socially Interactive Virtual Humans, Virtual Influencers, Customer Service Virtual Humans
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Which Region Is at the Forefront of the Virtual Humans Market?
North America was the largest region in the virtual humans market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual humans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Virtual Humans Global Market Report?
- Market Size Analysis: Analyze the virtual humans Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the virtual humans market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall virtual humans market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the virtual humans market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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