Social VR Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Virtual reality solutions are being used by businesses and social media platforms to improve the user experience. A virtual reality headset is used in conjunction with the social VR app to create a virtual meeting room and social event experience. Users or participants on social media appear in virtual worlds as virtual characters or avatars to attend organized social events, virtual parties, and virtual team meetings. Video conferencing and online meeting platforms are becoming more popular among businesses as a way to cut down on employee travel time and meeting costs.
MARKET DYNAMICS
The social VR industry is predicted to increase in response to rising demand for an enhanced social platform incorporating VR technology. The expansion of the social VR industry is projected to be aided by technological advancements in communication standards. Furthermore, the adoption of social VR reduces company expenses by avoiding the need to invest in a separate video or VR-based communication channel, and it is predicted to improve business potential for social VR providers.
MARKET SCOPE
The "Global Social VR Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunication industry with a special focus on the global market trend analysis. The social VR market report aims to provide an overview of the social VR market with detailed market segmentation by component, end-user, and geography. The global social VR market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading social VR market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global social VR market is segmented based on component, end-user. Based on component, the social VR market is segmented into hardware, software/application, services. Based on end-user, the social VR market is segmented into commercial, residential, government.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global social VR market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The social VR market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the social VR market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the social VR market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global social VR market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The social VR market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the social VR market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the social VR market in these regions.
MARKET PLAYERS
The reports cover key developments in the social VR market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from social VR market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the underwriting and rating software market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the underwriting and rating software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Altspace VR
- Bigscreen, Inc.
- Emergent VR
- Facebook Technologies, LLC
- Google LLC
- HTC Corporation
- Microsoft Corporation
- Padraft
- VRChat Inc.
- Vrideo
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Social VR Market - By Component
1.3.2 Social VR Market - By End-user
1.3.3 Social VR Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOCIAL VR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SOCIAL VR MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOCIAL VR MARKET - GLOBAL MARKET ANALYSIS
6.1. SOCIAL VR - GLOBAL MARKET OVERVIEW
6.2. SOCIAL VR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOCIAL VR MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE/APPLICATION
7.4.1. Overview
7.4.2. Software/Application Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. SOCIAL VR MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL
8.3.1. Overview
8.3.2. Commercial Market Forecast and Analysis
8.4. RESIDENTIAL
8.4.1. Overview
8.4.2. Residential Market Forecast and Analysis
8.5. GOVERNMENT
8.5.1. Overview
8.5.2. Government Market Forecast and Analysis
9. SOCIAL VR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Social VR Market Overview
9.1.2 North America Social VR Market Forecasts and Analysis
9.1.3 North America Social VR Market Forecasts and Analysis - By Component
9.1.4 North America Social VR Market Forecasts and Analysis - By End-user
9.1.5 North America Social VR Market Forecasts and Analysis - By Countries
9.1.5.1 United States Social VR Market
9.1.5.1.1 United States Social VR Market by Component
9.1.5.1.2 United States Social VR Market by End-user
9.1.5.2 Canada Social VR Market
9.1.5.2.1 Canada Social VR Market by Component
9.1.5.2.2 Canada Social VR Market by End-user
9.1.5.3 Mexico Social VR Market
9.1.5.3.1 Mexico Social VR Market by Component
9.1.5.3.2 Mexico Social VR Market by End-user
9.2. EUROPE
9.2.1 Europe Social VR Market Overview
9.2.2 Europe Social VR Market Forecasts and Analysis
9.2.3 Europe Social VR Market Forecasts and Analysis - By Component
9.2.4 Europe Social VR Market Forecasts and Analysis - By End-user
9.2.5 Europe Social VR Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Social VR Market
9.2.5.1.1 Germany Social VR Market by Component
9.2.5.1.2 Germany Social VR Market by End-user
9.2.5.2 France Social VR Market
9.2.5.2.1 France Social VR Market by Component
9.2.5.2.2 France Social VR Market by End-user
9.2.5.3 Italy Social VR Market
9.2.5.3.1 Italy Social VR Market by Component
9.2.5.3.2 Italy Social VR Market by End-user
9.2.5.4 United Kingdom Social VR Market
9.2.5.4.1 United Kingdom Social VR Market by Component
9.2.5.4.2 United Kingdom Social VR Market by End-user
9.2.5.5 Russia Social VR Market
9.2.5.5.1 Russia Social VR Market by Component
9.2.5.5.2 Russia Social VR Market by End-user
9.2.5.6 Rest of Europe Social VR Market
9.2.5.6.1 Rest of Europe Social VR Market by Component
9.2.5.6.2 Rest of Europe Social VR Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Social VR Market Overview
9.3.2 Asia-Pacific Social VR Market Forecasts and Analysis
9.3.3 Asia-Pacific Social VR Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Social VR Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Social VR Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Social VR Market
9.3.5.1.1 Australia Social VR Market by Component
9.3.5.1.2 Australia Social VR Market by End-user
9.3.5.2 China Social VR Market
9.3.5.2.1 China Social VR Market by Component
9.3.5.2.2 China Social VR Market by End-user
9.3.5.3 India Social VR Market
9.3.5.3.1 India Social VR Market by Component
9.3.5.3.2 India Social VR Market by End-user
9.3.5.4 Japan Social VR Market
9.3.5.4.1 Japan Social VR Market by Component
9.3.5.4.2 Japan Social VR Market by End-user
9.3.5.5 South Korea Social VR Market
9.3.5.5.1 South Korea Social VR Market by Component
9.3.5.5.2 South Korea Social VR Market by End-user
9.3.5.6 Rest of Asia-Pacific Social VR Market
9.3.5.6.1 Rest of Asia-Pacific Social VR Market by Component
9.3.5.6.2 Rest of Asia-Pacific Social VR Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Social VR Market Overview
9.4.2 Middle East and Africa Social VR Market Forecasts and Analysis
9.4.3 Middle East and Africa Social VR Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Social VR Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Social VR Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Social VR Market
9.4.5.1.1 South Africa Social VR Market by Component
9.4.5.1.2 South Africa Social VR Market by End-user
9.4.5.2 Saudi Arabia Social VR Market
9.4.5.2.1 Saudi Arabia Social VR Market by Component
9.4.5.2.2 Saudi Arabia Social VR Market by End-user
9.4.5.3 U.A.E Social VR Market
9.4.5.3.1 U.A.E Social VR Market by Component
9.4.5.3.2 U.A.E Social VR Market by End-user
9.4.5.4 Rest of Middle East and Africa Social VR Market
9.4.5.4.1 Rest of Middle East and Africa Social VR Market by Component
9.4.5.4.2 Rest of Middle East and Africa Social VR Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Social VR Market Overview
9.5.2 South and Central America Social VR Market Forecasts and Analysis
9.5.3 South and Central America Social VR Market Forecasts and Analysis - By Component
9.5.4 South and Central America Social VR Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Social VR Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Social VR Market
9.5.5.1.1 Brazil Social VR Market by Component
9.5.5.1.2 Brazil Social VR Market by End-user
9.5.5.2 Argentina Social VR Market
9.5.5.2.1 Argentina Social VR Market by Component
9.5.5.2.2 Argentina Social VR Market by End-user
9.5.5.3 Rest of South and Central America Social VR Market
9.5.5.3.1 Rest of South and Central America Social VR Market by Component
9.5.5.3.2 Rest of South and Central America Social VR Market by End-user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOCIAL VR MARKET, KEY COMPANY PROFILES
11.1. ALTSPACE VR
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BIGSCREEN, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. EMERGENT VR
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FACEBOOK TECHNOLOGIES, LLC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GOOGLE LLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HTC CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MICROSOFT CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. PADRAFT
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. VRCHAT INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VRIDEO
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Altspace VR
2. Bigscreen, Inc.
3. Emergent VR
4. Facebook Technologies, LLC
5. Google LLC
6. HTC Corporation
7. Microsoft Corporation
8. Padraft
9. VRChat Inc.
10. Vrideo
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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