Virtual Humans Market to Reach $1,827.65 Billion, Globally, by 2033 at 45.1% CAGR: Allied Market Research
Increased focus on personalization and expansion of virtual & augmented reality in virtual humans is expected to drive the global virtual humans market growth.
Wilmington, New Castle, Delaware , Jan. 27, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Virtual Humans Market by Type (Avatars, Autonomous Virtual Humans), and Industry Vertical (Gaming and Entertainment, Education, Retail, Healthcare, Automotive, IT and Telecommunications, BFSI, Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the virtual humans market was valued at $43.3 billion in 2023, and is estimated to reach $1,827.65 billion by 2033, growing at a CAGR of 45.1% from 2024 to 2033.
Prime Determinants of Growth
Increased focus on personalization and expansion of virtual & augmented reality in virtual humans are the factors expected to propel the growth of the global virtual humans market. However, the high development costs and privacy & data security concerns is anticipated to hamper the growth of the global market. On the contrary, growth in e-learning & remote education and integration with smart devices further likely to create lucrative opportunities for the growth of the global market.
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Report Coverage & Details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $43.3 Billion |
| Market Size in 2033 | $1,827.65 Billion |
| CAGR | 45.10% |
| Segments covered | Type, Industry Vertical and Region |
| Drivers | Increased Focus on Personalization |
| Expansion of Virtual and Augmented Reality in Virtual Humans | |
| Opportunities | Growth in E-learning and Remote Education |
| Integration with Smart Devices | |
| Restraints | High Development Costs |
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Segment highlights
The avatars segment to maintain its lead position during the forecast period
By type, the avatars segment held the highest market share in 2023, accounting for more than four-fifths of the virtual humans market revenue and is estimated to maintain its leadership status during the forecast period, owing to increasing demand for interactive digital experiences, advancements in AI, and growing applications in entertainment, gaming, and customer service. However, the autonomous virtual humans segment is expected to attain the largest CAGR of 52.5% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to advancements in AI, self-learning capabilities, and increased use in healthcare and education, which drives the segment growth in the virtual humans market.
The gaming and entertainment segment to maintain its lead position during the forecast period
By industry vertical, the gaming and entertainment segment accounted for the largest share in 2023, contributing for nearly one-fifth of the virtual humans market revenue, owing to immersive experiences, AI-driven characters, and increasing demand for interactive content. However, the BFSI segment is expected to attain the largest CAGR of 48.7% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to enhanced customer service through virtual assistants, fraud detection, and personalized financial solutions. Thereby, driving the growth of this segment in the global virtual humans market.
North America region to maintain its dominance by 2033
By region, the North America segment held the highest market share in terms of revenue in 2023, owing to advanced technological infrastructure, strong presence of AI-driven companies, and growing adoption across sectors such as gaming, entertainment, and healthcare. High investments in AI research and favorable government initiatives further fueled market growth in the region. However, the Asia-Pacific segment is projected to attain the highest CAGR of 49.3% from 2023 to 2033, owing to rapid digital transformation, growing investments in AI and virtual technologies, and increasing demand for virtual assistants in retail and customer service. Expanding gaming industries and tech-savvy populations further boost market growth.
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Leading Market Players: -
- Epic Games, Inc.
- Inworld AI
- Meta Platforms, Inc
- Microsoft Corporation
- Soul Machines
- Unity Technologies
- Alibaba Group Holding Limited
- Aww Inc.
- UneeQ
- Dexter Studios.
The report provides a detailed analysis of these key players in the virtual humans market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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