Cloud VR Services Market: Introduction
Cloud Virtual Reality (VR) services are a combination of cloud computing and cloud rendering into VR. Due to the fast network, the cloud-based display output and audio output are designed and developed for user devices to implement cloud-based VR services content.
Cloud VR Services Market: Dynamics
Development of advance networking processes, speed, and strong connectivity accelerates the market.
Based on region, the cloud VR services market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America held a dominant position in the global cloud VR services market in 2018. It is expected to maintain its dominance during the forecast period. The U.S. and Canada are major countries that drive the cloud VR services market in the region. North America is among the earliest adopters of emerging technologies. Thus, another major trend in North America is the development and adoption of Artificial Intelligence (AI) and cloud computing, which in turn is also anticipated to boost the market in the region.
The market in Asia Pacific is expected to expand at the highest CAGR in the global cloud VR services market during the forecast period. India, China, Japan, and Australia are the major countries that drive the cloud VR services market in the region.
Media & entertainment and retail & e-commerce segment combined anticipated to account for largest share of cloud VR services during the forecast period
Based on industry, the cloud VR services market can be bifurcated into media & entertainment, healthcare, retail & e-commerce, automotive, real estate, and others. In 2018, the media & entertainment and retail & e-commerce segment combined held the dominant position in the cloud VR services market and is anticipated to retain its dominance throughout the forecast period. Virtual reality provides an immersive experience to consumers by providing a virtual overlay of a retailer's product in any specific setting a consumer desires. Virtual and augmented reality can further be used by retailers to provide tailored retail experiences, customer care services, and access to graphic-rich product information to better facilitate buying decisions.
Based on application, the cloud VR services market can be bifurcated into consumer and commercial. In 2018, the commercial segment held the dominant position and is anticipated to retain its dominance in cloud VR services market throughout the forecast period. The increasing workload or computing instances on cloud data centers is a key driving factor for the growth of the cloud VR services market. By 2021, 94% of the workload and compute instances will be processed by cloud data centers and only 6% is likely to be processed by traditional data centers.
Key players operating in the global cloud VR services market
- Key players in the global cloud VR services market are listed below:
- Huawei Technologies Co., Ltd.
- Nokia Corporation
Global Cloud VR Services Market: Research Scope
Global Cloud VR Services Market, by Type
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Figure: Global Cloud VR Services Market, by Type
Global Cloud VR Services Market, by Application
- Media & Entertainment
- Retail & e-commerce
- Real estate
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Figure: Global Cloud VR Services Market, by Application
Global Cloud VR Services Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Figure: Global Cloud VR Services Market, by Region
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.