GVR Report cover Virtual Content Creation Market Size, Share & Trends Report

Virtual Content Creation Market Size, Share & Trends Analysis Report By Content Type (Videos, Games), By Solution Type (Software, Services), By End-use (Retail, Gaming), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-088-7
  • Number of Pages: 174
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Report Overview

The global virtual content creation market size was valued at USD 4.33 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25.7% from 2023 to 2030. The increasing popularity of Virtual Reality (VR) along with other immersive technologies is accelerating the market expansion during the forecast period. Moreover, the demand for high-quality virtual content will likely grow as more businesses and consumers embrace these technologies, which is expected to drive global market growth.VR technology has gained prominence over the last few years owing to the advancement and launch of advanced VR headsets to augment the growth and experience in several industries.

U.S. virtual content creation market size and growth rate, 2023 - 2030

The technology is under continuous research to develop low-cost, wearable solutions for the mass market. In addition, VR has an enormous potential to be incorporated into a wide range of applications, including content creation, healthcare, education, and industrial prototyping, which is anticipated to fuel the market further.Virtual content creation involves developing and designing digital content for virtual environments, such as VR simulations, video games, and other interactive experiences. This includes several stages, such as planning and concept development, 3D modeling and animation, programming & scripting, and testing & optimization that contribute to the virtual world.

These properties, in turn, are expected to boost the market growth over the forecast period. Moreover, the key market players are partnering and acquiring companies to diversify and expand their business to cater to a more significant customer base, which is expected to fuel the market growth further. For instance, in May 2022, DPVR, a VR device manufacturing and design company, partnered with FXG Video Science and Technology (FXG), a China-based VR production studio. This partnership is expected to combine its resources and technology to create richer, more convenient, and free VR content systems for end-users, which is expected to fuel the market growth over the forecast period.

Furthermore, virtual content is increasingly being used for training and education purposes, specifically in the fields, such as aviation, healthcare, and engineering, among others, which is estimated to augment the market demand. Virtual content is significantly being used in e-commerce applications, such as try-before-you-buy experiences and virtual product demos. This, in turn, is expected to drive the market growth further during the forecast period.

Solution Type Insights

The software segment witnessed the highest revenue share of more than 80% in 2022. The development of modern hardware for the consumption of VR content and games is anticipated to drive the segment growth for the compatibility factor between hardware and software. Similarly, there is expected to be a rising trend for custom VR software in industries, such as healthcare and retail, for collaboration and remote work capabilities. This, in turn, is expected to add to the segment growth in the coming years.

The services segment is expected to grow at the highest CAGR of around 30% over the forecast period.  The segment growth can be attributed to the rising trend of fictional VR universes, such as Metaverse, which is anticipated to attract companies to develop software for content creation around these virtual worlds. Moreover, the high investment and high-end hardware requirement to develop and maintain VR offerings is a driving factor for the growth of companies offering VR as a service. Similarly, the trend of digitization and modernization is expected to push smaller companies to avail these services, thereby resulting insegment growth.

End-use Insights

The media & entertainment segment accounted for a significant market share of over 20% in 2022. The segment dominance can be attributed to the trend of VR movies & shows along with the prominence of VR in gaming. For instance, Valve Corporation’s video game store and platform Steam hosts more than 600 VR games and apps. In addition, the growing use of VR headsets has resulted in popular streaming platforms, such as Netflix, having launched their applications for use on Quest, Quest 2, and Meta Quest Pro VR headsets.

The gaming end-use segment is expected to grow at a notable CAGR of over 25% during the forecast period. The segment growth can be credited to the immense popularity of gaming across various age groups around the world. For instance, in May 2023, 38% of gamers in the U.S. were people aged between 18 to 34 years.In addition, the development of affordable VR headsets that do not require high-level hardware to run is anticipated to attract new users to the market as it is helping to reduce the entry barrier.

Content Type Insights

The videos segment accounted for a significant market share in 2022 and is anticipated to witness considerable growth from 2023 to 2030. The segment dominance is attributed to the immense popularity of 360-degree VR experience in videos. For instance, YouTube, a popular video-sharing platform, offers 360-degree VR videos that run on its mobile application and desktop browsers. Moreover, the popularity of VR in video content consumption has resulted in an increased demand for VR headsets offered by Oculus, PlayStation, and Google, among others, as they offer an added immersive experience to the viewers.

Global virtual content creation market share and size, 2022

The gaming segment is expected to record a notable CAGR of more than 25% from 2023 to 2030. The segment growth can be attributed to the strong gaming industry and the development of modern hardware with VR support & capabilities. For instance, Nvidia Corporation’s new range of Graphics Processing Unit (GPU) RTX, can handle the demanding VR technology and produce immersive visual outputs. Moreover, GPU development companies integrate advanced technologies, such as super sampling, Ray Tracing, and PhysX, to deliver a realistic gaming experience in terms of lighting, character movement, and other physical characteristics.

Regional Insights

North America is anticipated to record a significant CAGR of over 25% over the forecast period. The regional dominance can be credited to the presence of legacy market players in the region. It is also expected that the high level of technology investment in the region will attribute to market growth. Similarly, the prominence of the media & entertainment, and gaming industries in North America coupled with a demanding fanbase is expected to subsequently increase the market demand in the region.

Virtual Content Creation Market Trends, by Region, 2023 - 2030

The Asia Pacific region accounted for the largest market share of around 40% in 2022. The growth of the regional market can be attributed to the increasing developments in VR technology in emerging countries, such as India and China. In addition, the presence of countries, such as China, which are major producers and suppliers of VR-related hardware is anticipated to support the growth of this regional market during the forecast period.

Key Companies & Market Share Insights

The market is classified as highly competitive, with the presence of several virtual content creation players. The key players are focusing on strategic alliances, product licensing, expansion, and mergers & acquisitions to remain competitive in the industry. For instance, in April 2023, XRHealth USA Inc., a telemedicine VR platform, acquired Amelia Virtual Care, a leading global VR platform. This merger is expected to create an Extended Reality (XR) therapeutic powerhouse capable of addressing mental and physical health issues. This, in turn, is anticipated to augment the market growth over the forecast period.Following are some of the major players in the global virtual content creation market:

  • Matteport, Inc.

  • Wevr

  • Vizor

  • KonceptVR LLC

  • Porcellus, Inc.

  • 360 Labs

  • Blippar Group Limited

  • Panedia Pty Ltd.

  • Scapic Innovation Private Limited (Flipkart)

  • Subvrsive, Inc.

  • VIAR Inc.

  • WeMakeVR

Recent Development

  • In February 2023, Matterport launched Digital Pro, a single, comprehensive marketing solution for real estate agents. Digital Pro offers comprehensive marketing and content production services along with the combination of Matterport's cutting-edge 3D digital twin technology.

Virtual Content Creation Market Report Scope

Report Attribute


Market size value in 2023

USD 5.14 billion

Revenue forecast in 2030

USD 25.49 billion

Growth rate

CAGR of 25.7% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Content type, solution type, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Mexico; Saudi Arabia; South Africa

Key companies profiled

Matteport, Inc.; Wevr; Vizor; KonceptVR LLC; Porcellus, Inc.; 360 Labs; Blippar Group Ltd.; Panedia Pty Ltd; Scapic Innovation Pvt. Ltd. (Flipkart); Subvrsive, Inc.; VIAR Inc.; WeMakeVR

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Global Virtual Content Creation Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global virtual content creation market report based on content type, solution type, end-use, and region:

  • Content Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Videos

      • 360-degree Photos

      • Games

    • 360-degree Videos

    • Immersive Videos  

  • Solution Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Software

    • Services

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Automotive

    • Media & Entertainment

    • Travel & Hospitality

    • Real Estate

    • Retail

    • Gaming

    • Healthcare

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

      • Saudi Arabia

      • South Africa

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