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VFX Software Market key players - Adobe, Autodesk Inc., SideFX, Maxon Computer, Sitni Sati, The Foundry Visionmongers Limited, Pixar, Chaos Software, Blackmagic Design Pty. Ltd

11-01-2019 01:23 PM CET | IT, New Media & Software

Press release from: KD Market Insights

VFX Software Market key players - Adobe, Autodesk Inc., SideFX,

According to a recent report published by KD Market Insights, titled “VFX Software Market by Component, Deployment, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026”, the global VFX software market size was valued at $559.53 million in 2018, and is projected to reach $1.44 billion by 2026, growing at a CAGR of 12.7% from 2019 to 2026.

Increase in spending on visual effects by the film industry across the world, growth in demand for high quality video contents, innovations in visual effects techniques and their applications are some of the key factors that propel the growth of the global VFX software market. In addition, benefits associated with VFX software, such as cost saving by eliminating the need to shoot expensive or hazardous video content, further boosts the market growth. In addition, use of advanced technologies such as virtual reality, artificial intelligence, machine learning with VFX software are expected to fuel the market growth. However, availability of free VFX software is expected to hamper the global VFX software market growth.
Based on deployment, the on-premise segment dominated the VFX software market share, in 2018. However, cloud segment is projected to grow with highest CAGR of 13.60% during the forecast period owing to increase in adoption of cloud technologies to achieve the advantages offered by cloud model such as pay-as-you-go model, elasticity in terms of storage, fast video processing facilities, higher availability and sharing of work.

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Based on application, the movies sector accounted for the highest revenue in 2018 VFX software market and it is expected to maintain its dominance during the forecast period. The rise in VFX budget for film production by Hollywood & Bollywood movies and other film industries around the world, and production of exclusive VFX films are primarily driving the demand for the movies sector. Moreover, the adoption of cloud by VFX studios in India is further expected to boost the demand for VFX software. For instance, in 2016 Prana Studios chose IBM cloud to run new high-resolution rendering works that are important to produce high-quality VFX.

While doing the VFX software market analysis it has been observed that the market is witnessing the trend of implementing artificial intelligence technology in the VFX software. The inclusion of AI, machine learning into the future VFX software is further anticipated to enhance the productivity in VFX outputs. For instance, artificial semantic grouping and object recognition could be integrated with pre-trained machine learning models to convert simple animatics straight into high-resolution, accomplished visual effects shots. Further, many of the most labor rigorous and iterative tasks such as match move, compositing, rotoscoping, and animation, can be completely automated and performed at reduced cost and with great speed.

Browse Full Report & TOC: https://www.kdmarketinsights.com/product/vfx-software-market-amr

According to Vishwa Gaul, Research Analyst, ICT at KD Market Insights, “The Asia-Pacific VFX software market is expected to grow at the highest CAGR during the forecast period, owing to significant increase in expenditure on VFX in the film industry of Asian countries such China and India. In addition, Indian VFX industry is shifted from traditional outsourcing model to its own co-productions model and intellectual property. It is thus anticipated to fuel the market growth in the upcoming years.”

KEY FINDINGS of THE STUDY
- By deployment, the cloud segment is expected to witness the high VFX software market growth during the forecast period.
- Based on application, the movies segment accounted for the highest revenue in the VFX software market in 2018.
- According to component, software segment generated the highest revenue for glitch tracking software market in 2018.
- The service segment is projected to witness highest growth rate during the forecast period.
- Region-wise, North America led the market in terms of revenue in 2018.

Some of the key players operating in the VFX software industry include Adobe, Autodesk Inc., SideFX, Maxon Computer, Sitni Sati, The Foundry Visionmongers Limited, Pixar, Chaos Software, Blackmagic Design Pty. Ltd., and Corel Corporation. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

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KD Market Insights
90 State Street, Albany,
New York, USA 12207
+1 (519) 300-1215
Email: sales@kdmarketinsights.com
Website: www.kdmarketinsights.com

About Us:
KD Market Insights is one of the leading providers of market intelligence products and services. We offer reports on over 10+ industries and update our collection daily which helps our clients to access database of expert market insights on global industries, companies, products, and trends.

Our in-house research experts have a wealth of knowledge in their respective domains. With KD Market Research, you always have the choice of getting customized report free of cost (upto 10%). Our support team will help you customize the report and scope as per your business needs. This ensures that you are making the right purchase decision. Our clients list includes various Fortune 500 companies and leading advisory firms.

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