Insights Into The Virtual Reality Software and Services Market’s Growth Opportunities Through 2023-2032 – Includes Virtual Reality Software and Services Market Size
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Growth in the gaming industry are expected to drive innovation in virtual reality software and services manufacturing, thus driving the market during the forecast period.
The global virtual reality software and services market is expected to grow from $15.17 billion in 2021 to $22.22 billion in 2022 at a compound annual growth rate (CAGR) of 46.5%. The global virtual reality software and services market is expected to reach $92.85 billion in 2026 at a CAGR of 43.0%.
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Global Virtual Reality Software And Services Market Segments Include:
- By Type: 3D Modelling Software, 360-degree Custom VR Software, Real Time Simulation Software
- By Application: Entertainment, Gaming, Tourism, Hospitals, Other Applications
- By Deployment: On-Premise, Cloud
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global virtual reality software and services market in 2021.
Major Market Players in the virtual reality software and services market include Google Inc., Facebook, Microsoft Corporation, Zappar, Pixar, Mozilla, Amazon, Apple, Razer, FOVE, BAE Systems, Qualcomm Inc., High Fidelity.
Companies in the virtual reality software and services market are increasingly seeking partnership opportunities to share knowledge and expertise in order to gain a competitive advantage over other players. For example, in 2021, ArborXR, and Matts Digital announced a partnership to provide frictionless extended reality solutions at scale in Europe and beyond. Similarly, in July 2022, HTC Corporation, a Taiwan-based manufacturer of consumer electronics partnered with VRdirect GmbH, a Germany-based virtual reality solution. With the partnership, the companies aims to open up the B2B metaverse to a variety of business types. In order to do this, HTC’s VIVE Business AppStore now offers the VRdirect software for the HTC Vive Focus 3.
The Virtual Reality Software and Services Global Market Report 2023 provides a virtual reality software and services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The virtual reality software and services market forecast analyzes virtual reality software and services market size, virtual reality software and services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The virtual reality software and services refer to software and services used to create an artificial simulated environment. Some examples of products and services in this market include Google VR services and 3D modelling software like AutoCAD, Zbrush, and 3DS Max.
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