Virtual Production Market Business Opportunities 2021-2028 | 360Rize, INSTA 360, Boris FX, Epic Games, Humaneyes Technologies, Adobe, Autodesk, NVIDIA

According to our latest market study on "Virtual Production Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component and End User," the market was valued at US$ 1,463.46 million in 2020, and it is projected to reach US$ 4,733.04 million by 2028; it is expected to grow at a CAGR of 15.9% from 2021 to 2028. Geographically, North America held the largest share of the virtual production market in 2020, followed by Asia Pacific and Europe. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The virtual production market is segmented into component, end user, and geography. Based on component, the market is further categorized into solutions and services. The solutions segment represented the largest share of the overall market in 2020. In terms of end user, the market is segmented into movies, TV series, commercial ads, and online videos. In 2020, the movies segment accounted for a substantial share of the global virtual production market.

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The Key Players In The Global Market Are: 360Rize, INSTA 360, Boris FX, Epic Games, Humaneyes Technologies, Adobe, Autodesk, NVIDIA, HTC Corporation, Brompton Technology, ROE Visual

Global Virtual Production Market Insight:

The virtual production market is broadly segmented into five major regions-North America, Europe, APAC, MEA, and SAM. The North America region dominated the virtual production market in 2020. The US film & entertainment industry includes TV subscriptions, movie theatres, films, and electronic home video production, as well as distribution & consumption. With rising penetration of digital contents, the scope of virtual production will also rise. Additionally, the region witnesses footprints of 360Rize; Insta 360; Boris FX, INC; and Epic Games, Inc.; among others, in its territory. APAC is anticipated to be the fastest growing region of virtual production market, owing to the factors such as growing urbanization and increasing internet penetration. Furthermore, increasing inclination toward OTT platforms among the individuals in the region is expected to drive the market in the region.

Impact of COVID-19 Pandemic on Virtual Production Market

COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then, it has spread across the globe. The media & entertainment industry has also been impacted negatively. Hence, the pandemic would act as a restraining factor for the growth of various markets related to this industry in the coming months. One of the highly impacted critical areas is on-site shooting and production. The industry is fighting back to recover the loss and come up with new business models. To monetize, the companies are coming up with shows on streaming devices. The crisis has accelerated the trend of media streaming with the increasing penetration of OTT devices. The streaming companies are getting a significant number of subscriptions and viewers since the start of this pandemic. This has significantly created a demand for virtual productions. The COVID-19 pandemic has positively impacted the growth of the overall virtual production market

Enhanced Cost and Time Savings for Production Houses and Content Creators

The conventional media production is extremely linear, as the cinematographers and directors plan the scene, casts are filed on the set and editing & VFX development starts and finishes after filming is complete. Such one-way procession through preproduction, production, and postproduction can lead to negative outcome such as "fix-it-inpost" mentality, duplicative or destructive VFX labor, and expensive reshoots. The virtual production enables production houses to start VFX in preproduction which makes digital assets available for planning and shooting, allowing it to continuously refine the final output throughout the course of production. Virtual production is an evolution of conventional filmmaking playbook, allowing studios to pursue higher experimentation while controlling the cost and time of production.

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The report segments the global virtual production market as follows:

By Component

Solutions
Services

By End User

Movies
TV Series
Commercial Ads
Online Videos

By Geography

North America
Europe
Asia Pacific
Middle East & Africa
South America

Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Virtual Production Market.
• Key market trends cracking up the growth of the Virtual Production Market
• Challenges to Virtual Production Market growth.
• Key vendors of Virtual Production Virtual Production Market
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Virtual Production Market
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major region

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Contact Person: Sameer Joshi
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Phone: +1-646-491-9876

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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