Visual Effects (VFX) Market Destined to Reach US$ 15.2 Billion (CAGR of 8.5%) During 2023-2028 - IMARC Group

The latest report by IMARC Group, titled "Visual Effects (VFX) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global visual effects (VFX) market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global visual effects (VFX) market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.2 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.

Visual Effects, commonly known as VFX, refers to the manipulation or alteration of a video frame in a film or video that would be difficult, expensive, dangerous, or simply impossible to capture during live shooting. They involve integrating live-action footage and generated imagery to create environments and scenarios that look realistic and is beyond the realm of practical shooting. VFX has the unique ability to make the imagined look tangible, bringing to life even the most fantastical or complicated visual concepts. These are created using specialized software and high-end computers, necessitating the skills of VFX artists who work with a blend of creativity and technical mastery. As a result, they are extensively used in various films, TV shows, commercials, and video games.

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Visual Effects (VFX) Market Trends:

The global market is primarily driven by the increasing consumption of visual media due to the rise in streaming platforms and digital content. In line with this, the growing popularity of science fiction and superhero movies, which rely heavily on VFX, is bolstering the market growth. Moreover, the rapid expansion of virtual reality (VR) and augmented reality (AR) technologies, which integrate VFX for immersive experiences, is fueing the market demand. Moreover, the adoption of artificial intelligence (AI) and machine learning in the VFX industry for automating labor-intensive tasks, such as rotoscoping and cleanup, is promoting the market growth.

Besides this, considerable growth in the global video gaming industry, where VFX plays a significant role in enhancing user experience, is stimulating the market. Furthermore, continual advancements in VFX software offering more sophisticated and realistic effects, is creating a positive market outlook. Some of the other factors contributing to the market include the rising demand for 3D animation films, inflating dspsoable income levels, and continuous increase in VFX outsourcing.

By the IMARC Group, Some of the Top Competitive Landscape Operating in the Market are Given Below:

• Adobe Inc.
• Animal Logic
• Cinesite (Eastman Kodak Company)
• Digital Domain Holdings Limited
• Framestore
• Pixomondo
• Rodeo FX
• Scanline VFX
• Sony Pictures Entertainment Inc. (Sony Group Corporation)
• Technicolor SA
• The Foundry Visionmongers Limited
• The Walt Disney Company

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/visual-effects-market

Key Market Segmentation:

Breakup by Component:

• Software
• Services
• Hardware

Breakup by Product:

• Simulation FX
• Animation
• Modelling
• Matte Painting
• Compositing

Breakup by Technology:

• AI (Artificial Intelligence)
• AR (Augmented Reality)

Breakup by Application:

• Movies
• Television
• Gaming
• Advertisements
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Get in Touch with our Expert Team for Inquire or further information: https://www.imarcgroup.com/request?type=report&id=5576&flag=C

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.

This release was published on openPR.