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VR Software Market: Demand from Entertainment & Media Industry to Create Growth Opportunities

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International-Industry -News
VR Software Market: Demand from Entertainment & Media Industry to Create Growth Opportunities

VR Software Market

VR softwares have captured the market in a major way, citing increase in consumer demand. Market Research Future, a firm which specializes in market reports related to the Information and communications sector among others, recently published a report on this market. The sector is expected to display growth at approximately 11 per cent CAGR throughout the forecast period.

Virtual reality market is booming currently at a swift pace due to the increase in interest from both investor and consumer end. Technological breakthroughs have ensured constant developments and upgrades available that enhance the appeal of the sector. VR headsets, special headsets and omni directional treadmills have increased the market penetration potential of the market. The application of VR in certain segments such as architecture, sports, entertainment and medicine is creating unparalleled demand for the products of this market.

Industry Segments

The virtual reality market is divided by deployment into on-premise, cloud. By applications the categorization includes aerospace & defense, gaming & entertainment, diagnostics & surgeries, tourism, others. On the basis of type the market finds itself divided into 3D modelling software, 360 degree custom VR software, and real time simulation in which 3D modelling software is shaping the demand trends of the market. Finally by region into Europe, North America, APAC and Rest of the World.

Market Potential and Pitfalls

The virtual reality software market has witnessed a tectonic surge over the past few years, mainly due to technological advancements and rapid digitization. The surging demand for head mount displays in entertainment and gaming industries has elevated the scope for virtual reality software market across the globe. Product launches have further boosted the growth of the market across the globe. For instance, Microsoft Corporation has launched its mixed reality headset. The headset uses a camera which can track movement instead of room sensors. The virtual reality software market is predicted to expand at a rapid pace owing to the increasing demand from the investor as well from the consumer end. The introduction of special headsets, VR headsets, and omnidirectional treadmills has augmented the demand from the virtual reality software market. The accelerating demand for VR from sectors like sport, entertainment, architecture, and medicine is creating growth opportunities for the market across the globe.

Virtual reality and augmented reality holds high importance in the entertainment and media industry. VR and AR have become a necessity for the film making sector. Market players of the media and entertainment industry are highly adopting AR and VR technology. This has triggered the demand from the virtual reality software market.

On the contrary, with advancing technologies and surging demand for VR and AR from the film sector, the media & entertainment is facing shortage of skilled technicians. Moreover, high capital investment for developing AR and VR devices are some of the major concerns vitiating its growth across the globe.

Industry Updates

June 2019: The development of the latest 4D visualization technology for home makeovers is considered an ideal way to avoid expensive errors and allow viewing the newly designed home in impressive detail before committing. The technology will also let one experience how the light will change inside a room, besides new room configurations.

Competitive Dashboard

The top players dominating the global virtual reality software market are Microsoft Corporation (U.S.), Google Inc. (U.S.), Pixologic Inc. (U.S.), Blippar Inc. (U.K), Qualcomm Incorporated (U.S.), Metaio Gmbh (Germany), WorldViz. (U.S.), Oculus VR, LLC (U.S.), Razer Inc. (Singapore), Starbreeze Studios (Sweden), BAE Systems AB (Sweden), and HTC Corporation (Taiwan).

More Information@

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]

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