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Technavio’s market research analyst predicts the global virtual reality 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 are 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 virtual reality market growth in the region over the predicted period.
The presence of many large and small players make this market extremely competitive, who contend in terms of product features, the technology used, content quality, and costs. Vendors in the market are investing in innovative technologies, acquiring new players, and expanding their existing facilities. Based on the virtual reality content market report, 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.
According to the virtual reality market Forecast, 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 virtual reality content market size during the forecast period.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by industry
PART 07: Market segmentation by device
PART 08: Buying criteria
PART 09: Geographical segmentation
PART 10: Key leading country
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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