The Business Research Company’s report on the Virtual Reality Software Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the virtual reality software industry?
Growth in the gaming industry is a key factor driving the growth of the virtual reality software market. VR-powered games are much more beneficial than books as VR makes the games more appealing. Globally people are resorting to VR games to fight the boredom and fear connected with the pandemic. For instance, an inexpensive COVID-19 VR game COVID Escape Room is designed to help children develop real-world activities and concepts in a virtual environment. Through this game, children will not only understand how to wash their hands and handle the sneeze in a fun way to prevent COVID-19 infection (COVID-19) but also get to know in detail why social distancing is vital. For instance, in May 2023, according to the American Gaming Association, a US-based gambling industry association, consumer demand for gaming entertainment led to record-breaking commercial gaming revenue of $60 billion in 2022, marking a 14 percent increase compared to the previous year. Therefore, the rising gaming industry is driving the growth of virtual reality software market.
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What is the estimated market size of the virtual reality software sector by 2029, based on current forecasts?
The virtual reality software market size has grown exponentially in recent years. It will grow from $16.01 billion in 2024 to $20.31 billion in 2025 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to gaming and entertainment adoption, enterprise training and simulation, healthcare and medical applications, architectural and design visualization, education, and e-learning initiatives.
The virtual reality software market size is expected to see exponential growth in the next few years. It will grow to $48.64 billion in 2029 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to remote collaboration and communication, expanding applications in industry verticals, the rise of social VR experiences, integration with augmented reality (AR), and consumer adoption for product interaction. Major trends in the forecast period include healthcare applications expansion, affordable hardware options, content creation, innovation surge, focus on user experience improvement, and government and military applications utilization.
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Who are the top players in the virtual reality software market?
Major companies operating in the virtual reality software market include Microsoft Corporation, Qualcomm Incorporated, BAE Systems AB, Blippar Inc., Pixologic Inc., Razer Inc., WorldViz., Unity Technologies, Oculus VR LLC, EON Reality Inc., Mirra Inc, High Fidelity Inc., Virtalis Holdings Limited, Unigine Holding S.à r.l., Starbreeze Studios, Smartvizs Private Limited., Axonom Powertrak, Istaging Corp., Techviz SAS, The LearnPro Group, Wild Technology Inc, Imaginate Technologies., Briovr, Cupix Inc., Metaio Gmbh, High Tech Computer Corporation, Viar, Phenomatics Virtual Reality Software, Engineering Systems International. Group, Arcadia Augmented Reality, NVIDIA Corporation, Sony Interactive Entertainment, Valve Corporation, Autodesk Inc., Parametric Technology Corporation, Dassault Systèmes S.A., Alphabet Inc., Samsung Electronics Co. Ltd
What are the major trends in the virtual reality software market?
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.
Which geography holds the highest virtual reality software market share?
Asia-Pacific was the largest region in the virtual reality software market in 2024. North America was the second largest region in the global virtual reality software market analysis. The regions covered in the virtual reality software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the virtual reality software market?
The virtual reality software market covered in this report is segmented –
1) By Type: 3D Modelling Software, 360 Degree Custom VR Software, Real Time Simulation Software
2) By Deployment: On-Premise, Cloud
3) By Application: Automotive, Medical, Real Estate, Oil And Gas, Entertainment, Industrial, Other Applications
Subsegments:
1) By 3D Modelling Software: Character Modeling Tools, Environment Creation Tools, Animation Software
2) By 360 Degree Custom VR Software, VR Content Creation Tools, Interactive VR Experiences, VR Tours And Visualization Software
3) By Real-Time Simulation Software: Training Simulators, VR Gaming Engines, Interactive Training Platforms
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How is the virtual reality software market defined?
Virtual reality (VR) software encompasses applications and systems that generate immersive digital environments, simulating real or imagined experiences. By utilizing computer graphics, sensory input, and user interaction, these solutions offer a 3D space for exploration through VR devices. Ultimately, VR software seeks to enhance user engagement and transformation, improving learning, decision-making, and emotional connections across various fields.
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