Virtual Content Creation Market Size - By Component (Software, Services), Content Type (Videos, 360-degree Photos, Games), End-use (Automotive, Media & Entertainment, Travel & Hospitality, Retail, Gaming, Healthcare, Real Estate) & Forecast, 2023 - 2032

Virtual Content Creation Market Size - By Component (Software, Services), Content Type (Videos, 360-degree Photos, Games), End-use (Automotive, Media & Entertainment, Travel & Hospitality, Retail, Gaming, Healthcare, Real Estate) & Forecast, 2023 - 2032

Virtual Content Creation Market is set to record a CAGR of over 22% between 2023 and 2032, driven by the increasing demand for immersive and engaging experiences in gaming, entertainment, and virtual events. In November 2023, Accenture invested in Vū Technologies, a technology company specialized in virtual production and filmmaking. The latter helps companies create immersive as well as engaging experiences using a combination of real-time computer-generated imagery & live-action filming. As consumers seek more interactive and visually captivating content, the strategic partnerships and acquisitions will shape the market outlook.

Additionally, advancements in technology, particularly augmented reality (AR) and virtual reality (VR), along with the development of more sophisticated tools and platforms has made it easier for content creators to produce immersive experiences, driving both innovation and demand. The seamless integration of AR and VR into various sectors, from education to healthcare, further amplifies the industry growth prospects.

The global virtual content creation market is classified on the basis of component, content type, end-use and region.

The 360-degree photos segment is slated to gain momentum and record a strong CAGR through 2032, due to its ability to provide unparalleled enticing experiences. It allows users to capture and share panoramic images with a complete view of their surroundings, creating a sense of presence and interactivity. As VR & AR applications become more prevalent across industries, the demand for 360-degree photos is surging, particularly in sectors including real estate, tourism, and e-commerce.

Media & entertainment segment is anticipated to observe a significant CAGR during 2023 and 2032. Original and interactive virtual content, ranging from virtual concerts to immersive storytelling experiences, is captivating consumers and redefining entertainment. As media outlets and entertainment companies continue to leverage virtual content creation to enhance viewer engagement and loyalty, there will be constant market growth.

Asia Pacific virtual content creation industry will grow substantially between 2023 and 2032, attributed to the surge in mobile device penetration and internet accessibility, especially in rapidly advancing economies. This has created a massive user base striving for diverse and engaging virtual content, leading to increased demand across sectors such as mobile gaming, social media, and online education. Moreover, the proactive adoption of cutting-edge technologies, such as AI and 5G, resulting in the seamless creation and distribution of virtual content, will augment the regional market expansion.