The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Growth in the gaming industry are expected to drive innovation in virtual reality software manufacturing, thus driving the market during the forecast period.

The global virtual reality software market is expected to grow from $9.98 billion in 2022 to $12.76 billion in 2023 at a compound annual growth rate (CAGR) of 27.9%. The global virtual reality software market size is expected to grow to $30.83 billion in 2027 at a CAGR of 24.7%.

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Global Virtual Reality Software Market Segments Include:

• By Type: 3D Modelling Software, 360 Degree Custom VR Software, Real Time Simulation Software
• By Deployment: On-Premise, Cloud
• By Application: Automotive, Medical, Real Estate, Oil and Gas, Entertainment, Industrial, Other Applications
• 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 market in 2021.

Major Market Players in the virtual reality software market include Microsoft Corporation, Blippar Inc., Pixologic Inc., Metaio Gmbh, Qualcomm Incorporated, Oculus VR LLC., WorldViz., Starbreeze Studios, Razer Inc.

The integration of virtual reality (VR) in healthcare through mobile apps is a key trend in the virtual reality software market. VR-based mobile apps enable the treatment of several diseases which help to resolve many health issues and these VR apps are also used for education, which is not limited to the use by students alone and can be used by other interested stakeholders too. For example, in September 2022, Novant Health, a US-based healthcare company introduced VR training of its administrative and clinical team members for leadership. This includes the voice-activated, immersive virtual reality leadership training to aid leaders approach sensitive issues with their teams and is inspired by ‘Talking Taboo’. This provides an immersive environment for practicing difficult workplace discussions while addressing unconscious bias.

The Virtual Reality Software Global Market Report 2023  provides a virtual reality software market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The virtual reality software market forecast analyzes virtual reality software market size, virtual reality software 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.

Virtual reality (VR) is an artificial environment created with software that is presented to the user so that the user stops believing and accepts it as a real environment.

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