The Europe Virtual Content Creation Market would witness market growth of 24.0% CAGR during the forecast period (2023-2030).
The increased demand for head-mounted displays (HMDs) such as VR and AR goods among people around the region and the abundance of affordable VR devices in the gaming & entertainment industries are the two main factors propelling the expansion of the market. In addition, there is a surge in need for VR content in the marketing field because of a growth in the popularity of exquisite customer experience marketing tactics among various end users. Additionally, an advantageous aspect of the market is the increase in R&D operations to expand the potential of virtual marketing in the retail sector.
In order to give users of virtual reality devices engaging experiences, virtual reality content development software is an essential tool. Thus, an increase in the use of virtual reality devices is anticipated to fuel demand for virtual reality content among consumers and other industry sectors around the region. The game industry, which has profited from this immersive technology, is gaining popularity for virtual reality. In order to transform the user experience, many sizable game production studios have embarked on the VR trend. Many developers were interested in VR games as time went on. The addition and alteration of already-existing VR material has recently transformed how people see games.
Europe has a strong technological foundation: dependable telecommunications networks, high-speed internet connectivity, and cutting-edge gear. This infrastructure offers a strong base for adopting technologies for creating virtual content and for the smooth delivery of virtual experiences. Europe's creative and cultural sectors, such as those in film, gaming, the arts, fashion, and design, have a rich history. Creating virtual material opens up fresh opportunities for artistic expression, storytelling, and interactive experiences. To push the bounds of creativity & engage audiences in new ways, European content creators & artists have adopted immersive technologies like augmented reality, virtual reality, and virtual reality.
Many studios, game developers, and content producers are concentrated in Europe, which has a thriving gaming and entertainment sector. The development of interactive experiences, virtual reality games, and eSports competitions have all contributed significantly to the expansion of the European gaming industry. The need for immersive and interesting virtual content has increased among gamers and consumers in Europe.
The Germany market dominated the Europe Virtual Content Creation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,472.5 million by 2030. The UK market is registering a CAGR of 23% during (2023 - 2030). Additionally, The France market would witness a CAGR of 25% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Virtual Content Creation Market is Projected to reach USD 23.7 Billion by 2030, at a CAGR of 24.6%
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.
By Solution
By Content Type
By End-use
By Country
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