Virtual Content Creation Global Market
Overview and Scope
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.
Sizing and Forecast
The virtual content creation market size has grown exponentially in recent years. It will grow from $5.20 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to increasing digital marketing and increasing ai in personalized content creation.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the virtual content creation market in 2023. The regions covered in the virtual content creation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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 provides 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.
Key Industry Players
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.
The virtual content creation market report table of contents includes:
1. Executive Summary
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