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Emerging Trends Influencing The Growth Of The Virtual Humans Market: Advancements In AI-Driven Virtual Human Technologies
Virtual Humans Market
How Big Is the Virtual Humans Market Size Expected to Be by 2034?
The size of the virtual humans market has increased tremendously in the past few years. It is projected to rise from $34.88 billion in 2024 to $51.94 billion in 2025, boasting a compound annual growth rate (CAGR) of 48.9%. Factors causing growth in this historical period include the growing use of virtual assistance and chatbots, the expansion of the metaverse, a surge in digitalization, greater smartphone usage, and an overall increase in digitalization.
Expectations are high for the size of the virtual humans market to experience a staggering growth in the coming years. By 2029, its predicted value is $252.61 billion, with a compound annual growth rate (CAGR) of 48.5%. Factors contributing to the projected growth during this forecast period include the emergence of e-commerce, the increasing demand for custom experiences, the ongoing expansion of the metaverse, the rising acceptance of digital influencers, and a heightened emphasis on customer experience. Key trends expected to shape this period encompass advances in technology, integration with artificial intelligence, multilingual capabilities, customized interactions, and partnerships with influential figures.
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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Virtual Humans Market Trends?
The swift growth of the metaverse is anticipated to catalyze the advancement of the virtual humans market in the future. Defined as a collective virtual area, the metaverse results from the convergence of virtually enhanced physical reality and consistently existent virtual reality. The broader acceptance and enlargement of the metaverse stem from rising attraction towards digital experiences, the growth of remote work and social interaction, economic potentials, and changes in culture. Virtual humans, also known as digital avatars or virtual entities, are pivotal components in the metaverse. They constitute users, AI-led characters, or autonomous entities with specific roles. These virtual humans are crucial in molding the user experience in the metaverse, paving the way for an enriched, customized, and interactive digital surroundings. For example, according to the UK Intellectual Property Office, a government organization in the UK tasked with upholding intellectual property rights, it is expected that the Metaverse' user base will experience exponential growth in March 2024. The anticipated figure is around 1.4 billion users and a predicted market value of $490.4 billion by 2030. As a result, the evolution of the metaverse underpins the growth of the virtual humans market.
Who Are the Top Competitors in Key Virtual Humans Market Segments?
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.
What Ampoule Bottle Market Trends Are Gaining Traction Across Different Segments?
Leading organizations in the virtual humans industry are making strides in the creation of technologically advanced solutions like AI-powered virtual human technologies through partnerships. These technologies aim to augment human-computer communication, fabricate more life-like avatars, and extend applications across multiple sectors. AI-driven virtual human technologies denote sophisticated systems that leverage artificial intelligence (AI) to generate digital imitations of humans capable of interacting with real people intelligently and realistically. For instance, in June 2024, Nvidia Corporation, a software firm based in the US, and Aww Inc., a virtual human company from Japan, entered a collaboration to amplify AI-driven virtual human technology. Their focus was specifically on their virtual influencer, imma, making this version capable of real-time interactions. This was amplified by NVIDIA's Audio2Face technology which enables realistic lip-syncing and facial animations. AI imma aims to automate the creation of character-based large language models (LLMs), simplifying the process of producing and dispersing virtual humans across various business uses. This mutual cooperation marks a crucial advancement in AI-driven virtual human technology, with the goal of transforming user involvement and interaction across different industries.
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Which Regions Are Becoming Hubs for Virtual Humans Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Virtual Humans Market?
2. What is the CAGR expected in the Virtual Humans Market?
3. What Are the Key Innovations Transforming the Virtual Humans Industry?
4. Which Region Is Leading the Virtual Humans Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the virtual humans market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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