improve the engagement through online content. According to RTV, it recorded 5,000 viewers
in 48 hours with an average time of 2 minutes per session. Similarly, Hotstar an India-based
digital entertainment platform have implemented Vizrt augmented and virtual reality
technology for live online coverage of Indian premier league cricket. High adoption of virtual
technology by film industry have fueled the growth of virtual reality content creation market.
For instance, in 2016, HBO launched a VR-based game of thrones promo.
Gaming segment held the dominant position in global virtual reality content creation market in
2016.
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Gaming segment held the dominant position in virtual reality content creation market, in 2016
and is projected to retain its dominance throughout the forecast period, owing to increasing
advancement of technology in VR headsets such as HTC Vive and PlayStation VR. Increase in
traction of population towards gaming have also boosted the growth of the gaming segment in
virtual reality content creation market. According to Coherent Market Insights, in 2016 the
global gaming market generated the revenue of US$ 101.1 billion and is projected to reach US$
115.8 billion by 2018.
North America held the dominant position in virtual reality content creation market in 2016.
On the basis of geography, the virtual reality content creation market is segmented into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The North America region
held the dominant position in the market in 2016 and is projected to retain its dominance
throughout the forecast period. The U.S. and Canada are major economies driving the growth
of virtual reality content creation market in this region. High adoption of novel technology such
as virtual reality and prevalent of video gaming culture in the region especially in the U.S. have
driven the growth of virtual reality content creation market. Moreover, the Asia Pacific virtual
reality content creation market is projected to grow with the highest CAGR over the forecast
period. Increasing VR based startups play a key role for the growth of VR content creation
market in Asia Pacific region. SmartVizX, Grey Kernel, Merxius, Xenium, Tesseract Inc., and
AbsentiaVR are some of the India based startup companies, which produces virtual reality based
software or solutions.
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