Asia Pacific Virtual Content Creation Market Size, Share & Industry Trends Analysis Report By Solution (Software, and Services), By Content Type (Videos, Games, and 360-degree Photos), By End-use, By Country and Growth Forecast, 2023 - 2030
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Market Report Description
The Asia Pacific Virtual Content Creation Market would witness market growth of 25.0% CAGR during the forecast period (2023-2030).
Virtual content is being used more and more for training and education reasons, particularly in industries like healthcare, aviation, and engineering, among others, which is expected to increase market demand. Applications for e-commerce that allow users to trial products before they buy and view virtual product demos heavily utilize virtual content. This is therefore anticipated to further fuel market growth over the course of the forecast period.
The incorporation of VR technology into the products, as it provides a more immersive experience to end-users, is related to the increase in consumer demand for Virtual Reality (VR) video games. Additionally, the simple availability of affordable and useful VR equipment in the entertainment and gaming industry is anticipated to propel market expansion throughout the course of the research year. Additionally, the proliferation of cloud-based virtual content creation tools is making it simpler and more affordable for companies to develop virtual content as well as for content creators.
Due to its sizable & diverse market, technical improvements, and supportive ecosystem, the Asia Pacific region offers tremendous prospects for creating virtual content. The region's thriving e-commerce sector, emphasis on education & healthcare developments, and rich cultural legacy make it an ideal environment for developing and accepting virtual content creation technology.
Asia Pacific is renowned for its quick technology development and strong digital infrastructure. Several nations, including South Korea, China, Japan, and Singapore, have been at the forefront of technological advancement, encouraging the adoption of tools for creating virtual content. The creation and consumption of virtual content are supported by ubiquitous smartphone use, high-speed internet connectivity, and access to cutting-edge gear.
The China market dominated the Asia Pacific Virtual Content Creation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,423.8 million by 2030. The Japan market would showcase a CAGR of 24.2% during (2023 - 2030). Additionally, The India market is anticipated to grow at a CAGR of 25.8% during (2023 - 2030).
Based on Solution, the market is segmented into Software, and Services. Based on Content Type, the market is segmented into Videos, Games, and 360-degree Photos. Based on End-use, the market is segmented into Media & Entertainment, Gaming, Automotive, Travel & Hospitality, Real Estate, Retail, Healthcare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Matterport, Inc., WeVR, WeMakeVR, Koncept VR LLC, VIAR Inc., 360 Labs, Blippar Group Limited, Panedia Pty Ltd., Scapic Innovations Private Limited (Flipkart Pvt. Ltd,) (Walmart Inc.), and Subvrsive, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Content Type
- 360-degree Photos
- Media & Entertainment
- Travel & Hospitality
- Real Estate
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Matterport, Inc.
- Koncept VR LLC
- VIAR Inc.
- 360 Labs
- Blippar Group Limited
- Panedia Pty Ltd.
- Scapic Innovations Private Limited (Flipkart Pvt. Ltd,) (Walmart Inc.)
- Subvrsive, Inc.
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