Global VR Social Platforms Market Overview:
VR social platforms allow users to collaborate in virtual reality from remote locations. These solutions enable users to meet up in the same virtual space and communicate through both speech and text. VR social platforms offer users the ability to choose and edit avatars to represent their likeness as well as custom environments to host a virtual meetup. The increasing use of social applications is the major driving factor for the growth of the VR social platform market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft (United States), Mozilla (United States), Valve Corporation (United States), Cluster, Inc. (Japan), LiveLike (United States), Rec Room Inc. (United States), Facebook (United States), Bigscreen (United States), JanusVR (United States), WorldViz (United States) and The Wild (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Increasing Use of Social Media Platforms across the Globe
- Rising Demand for VR Social Platform for Marketing
Roadblocks
- Lack of Skilled Working Professionals
Opportunities
- Technological Advancement and Development in the VR Social Platform
Challenges
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Microsoft (United States), Mozilla (United States), Valve Corporation (United States), Cluster, Inc. (Japan), LiveLike (United States), Rec Room Inc. (United States), Facebook (United States), Bigscreen (United States), JanusVR (United States), WorldViz (United States) and The Wild (United States). Analyst at AMA Research see United States Players to retain maximum share of Global VR Social Platforms market by 2027. Considering Market by Platform, the sub-segment i.e. Android will boost the VR Social Platforms market. Considering Market by Deployment, the sub-segment i.e. On-premise will boost the VR Social Platforms market. Considering Market by Pricing Type, the sub-segment i.e. Monthly Subscription will boost the VR Social Platforms market.
On 27th August 2020, Facebook has announced that its new social VR experience platform, called 'Horizon', is now moving into closed beta.
What Can be Explored with the VR Social Platforms Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global VR Social Platforms Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in VR Social Platforms
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global VR Social Platforms market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in VR Social Platforms market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes VR Social Platforms Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.