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How has the virtual humans market size evolved in recent years?

The market size for virtual humans has seen significant expansion lately. Its growth is predicted to increase from $34.88 billion in 2024 to $51.94 billion in 2025, with a compound annual growth rate (CAGR) of 48.9%. This growth during the historical period is due to various factors such as the widespread use of virtual assistants and chatbots, the growth of the metaverse, enhanced digitalization, and higher smartphone usage.

What are the predictions for the virtual humans market size in the coming years?

In the coming years, the market size for virtual humans is predicted to experience significant growth, reaching a value of $252.61 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 48.5%. The growth during this forecast period is due to factors such as the increasing popularity of e-commerce, the growing need for tailored experiences, the broadening scope of the metaverse, the rising acceptance of digital influencers, and an intensified focus on customer experiences. Noteworthy trends for the forecast period consist of advancements in technology, the incorporation of artificial intelligence, the ability to operate in multiple languages, personalized experiences, and partnerships with influencers.

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What key factors are fueling the growth of the virtual humans market?

The virtual humans market is projected to witness significant growth, fueled by the swift proliferation of the metaverse. Essentially, the metaverse is an amalgamation of a digitally enhanced physical reality and a corporeal consistent virtual reality, a virtual shared space that is growing quickly due to the rising interest in digital experiences, remote working and socializing, economic opportunities, and cultural transformations. Virtual humans, also known as digital avatars or virtual beings, are integral to the metaverse, serving as a representation for users, AI-driven characters, or independent entities with defined functions. They shape the user’s experience in the metaverse, fostering a richer, more personalized, and interactive digital space. As per the UK Intellectual Property Office, a government organization overseeing intellectual property rights in the UK, there’s an anticipated swift rise in metaverse users beginning from March 2024. By 2030, the user base is estimated to reach 1.4 billion users, and the metaverse’s market size will likely touch $490.4 billion. Thus, the blossoming metaverse is the key growth driver of the virtual humans market.

How is the global virtual humans market divided into key segments?

The virtual humans market covered in this report is segmented –

1) By Type: Avatars, Autonomous Virtual Humans

2) By Application: Gaming And Entertainment, Simulation And Training, Virtual Reality (VR) And Augmented Reality (AR), Customer Service And Virtual Assistants, Marketing And Advertising, Other Applications

3) By Industry Type: Banking, Financial Services And Insurance (BFSI), Education, Retail, Healthcare, Automotive, Aerospace And Military, Information Technology And Telecommunications, Gaming And Entertainment, Marketing And Advertising, Other Industries

Subsegments:

1) By Avatars: 2D Avatars, 3D Avatars, Customizable Avatars, Realistic Avatars

2) By Autonomous Virtual Humans: AI-Powered Virtual Assistants, Socially Interactive Virtual Humans, Virtual Influencers, Customer Service Virtual Humans

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Who are the key firms paving the way for growth in the virtual humans market?

Major companies operating in the virtual humans market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Alibaba Group Holding Limited, Meta Platforms Inc., NVIDIA Corporation, iFLYTEK Co. Ltd., Unity Software Inc., Epic Games Inc., Xsens Technologies B.V., Reallusion Inc., Soul Machines Limited, AltspaceVR Inc., Cubic Motion Limited, Datagen Technologies Ltd., Inworld AI Inc., 3Lateral d.o.o., Faceware Technologies Inc., Offbeat Media Group LLC, Quantum Capture Inc., UneeQ Limited, VNTANA Inc.

Which trends are expected to transform the virtual humans market?

Leading corporations in the virtual humans market are prioritizing the development of technologically progressive solutions like AI-powered virtual human technologies, often via partnerships, to improve human-computer interactivity, create lifelike avatars, and broaden applications in several sectors. Such technologies employ artificial intelligence to create digitized versions of humans that can interact with actual people realistically and smartly. For example, in June 2024, Nvidia Corporation, an American software firm, teamed up with Japan’s Aww Inc., a virtual human firm, to refine AI-powered virtual human technology. They focused particularly on their virtual influencer, imma. In this improved version, real-time interactions are possible, enhanced by Nvidia’s Audio2Face technology that offers lifelike facial animations and accurate lip-syncing. The AI imma is planned to streamline the generation of character-based large language models (LLMs), simplifying the production and distribution of virtual humans for diverse business applications. This collaboration marks a substantial advancement in AI-powered virtual human technology, with an aim to transform user engagement and interaction across various industries.

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What regions are contributing significantly to the growth of the virtual humans market?

North America was the largest region in the virtual humans market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual humans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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