Global Virtual Reality Content Market 2016-2020
Overview of the global virtual reality (VR) content market
Technavio’s market research analyst predicts the global virtual reality (VR) content market to grow tremendously during the forecast period, posting an impressive CAGR of almost 128%. The growth of the VR content market is directly proportional to the growth of the gaming market. The gaming market is the highest adopter of VR content. VR offers a simulated environment through its hardware and software, which provides users a virtual experience while gaming. The majority of the revenue in the global VR content market is generated through the sales of hardware devices, live viewing formats, and spectator content. The number of gamers who prefer VR over traditional gaming devices has increased, thanks to the growing benefits for VR headsets equipped with sensors, which offer synchronized sound and sight. The introduction of smartphone-integrated VR headsets is the latest trend in this market. Samsung and HTC are the leading manufacturers of such technologically advanced, portable, and stand-alone devices. Also, the declining costs of VR components such as sensors, cameras, and displays is propelling vendors to develop cost-effective products, thereby leading to the growth of the VR content market in the coming years.
In terms of geography, APAC is expected to witness the highest growth rate during the forecast period, owing to the increased adoption of VR in countries like China and Japan. Much of the region’s growth can be attributed to the large number of local and global players who are increasingly developing software and hardware for VR. For instance, Baofeng Mojing is collaborating with Indie VR developers to create and distribute over 26 VR games. Moreover, the launch of the first VR theme park in China by 2018 will be a major driving force behind the growth of the market in the region over the predicted period.
Competitive landscape and key vendors
The presence of many large and small players makes this market extremely competitive, who contend in terms of product features, technology used, content quality, and costs. Vendors in the market are investing in innovative technologies, acquiring new players, and expanding their existing facilities. Competition will intensify over the next four years as vendors will likely adopt advanced technologies to gain greater profit shares. To sustain in the fiercely competitive environment, players are focusing on new ideas and technologies and are upgrading themselves with the emerging technologies that could influence the service lines.
Leading vendors in the market are -
Other prominent vendors in the VR content market include 8i, Alphaeon, AltspaceVR, Apple (Metaio), Blippar, Alchemy VR, CCP Games, EEVO, Facebook, GoPro, High Fidelity, HTC, Improbable, Jaunt, Legend3D, Linden Lab, Marxent, Matterport, Movidius, MyDreamVR, NextVR, Nod Labs, Reload Studios, Resolution Games, Sony, uSens, Virtalis, Virtuix, Viscira, VRideo, Wevr, and WorldViz.
Segmentation by industry and analysis of the VR content market
- Healthcare and wellness
- Travel and tourism
The gaming segment dominated the market and occupied the largest market share in the VR content market in 2015. The surge in the number of VR gaming hardware manufacturers has resulted in an increase in the implementation of VR technology by the gaming industry. VR games give players an experience of playing games live, which has boosted their demand significantly. Hover Junkers, The Climb, and Batman are some of the most popular VR games, which are likely to contribute to the growth of the VR content market during the forecast period.
Segmentation by devices and analysis of the VR content market
- Gaming consoles
- Mobile devices
During 2015, the PC segment accounted for the largest revenue share of the global VR content market, owing to its adoption by a large population worldwide. One of the major reasons for the exponential rise in growth of the PC segment is the enthralling gaming experience offered by PC-based gaming integrated with VR. However, with the declining cost of mobile devices, several vendors in the market are launching VR content and accessories that are compatible with these devices, resulting in the fastest growth of the mobile devices segment in the coming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global VR content market?
- What are the key market trends impacting the growth of the global VR content market?
- What are the challenges to market growth?
- Who are the key vendors in the global VR content market?
- What are the market opportunities and threats faced by the vendors in the global VR content market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global VR content market?
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