The Business Research Company’s Virtual Reality Software Global Market Report 2021- COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 20, 2021 /EINPresswire.com/ — 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 enables 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 coronavirus 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 the coronavirus infection (COVID-19) but also get to know in detail why social distancing is vital. In March 2020, the global spending on digital games increased to $10 billion, the highest monthly estimate ever. Therefore, the growth in the gaming industry is expected to drive the virtual reality software market.
The global virtual reality software market size is expected grow from $2.01 billion in 2020 to $2.97 billion in 2021 at a compound annual growth rate (CAGR) of 47.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The VR market is expected to reach $13.11 billion in 2025 at a CAGR of 45%.
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TBRC’s global virtual reality software market report is segmented by type into 3D modelling software, 360-degree custom VR software, real time simulation software, by deployment into on-premise, cloud, and by application into automotive, medical, real estate, oil and gas, entertainment, industrial, other.
Major players covered in the global virtual reality software industry are Microsoft Corporation, Blippar Inc., Pixologic Inc., Metaio Gmbh, Qualcomm Incorporated, Oculus VR, LLC, WorldViz., Starbreeze Studios, Razer Inc., HTC Corporation, BAE Systems AB, Istaging, Axonom Powertrak, Cupix, Viar, IrisVR, Briovr, Techviz, Unigine, Phenomatics Virtual Reality Software, Worldviz, Virtalis, ESI Group, XVR Simulation, EON Reality, High Fidelity, Mirra, Arcadia Augmented Reality, Smartvizs, Imaginate.
Virtual Reality Software Global Market Report 2021 – 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), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides virtual reality software market overview, forecast virtual reality software market size and growth for the whole market, virtual reality software market segments, and geographies, virtual reality software market trends, virtual reality software market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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