Global Virtual Production Market Share To worth USD 5.1 billion by 2027| CAGR of 14.5%

The global virtual production market share is estimated to be USD 2.6 billion in 2022 and is projected to reach 5.1 billion by 2027, at a CAGR of 14.5% during the forecast period. Rising demand for visual effects in movie and television industries, and increasing implementation of LED wall technology play a key role in driving the growth of virtual production market in near future.

Adobe Inc. (US), NVIDIA Corporation (US), Sony Group (Japan), Autodesk Inc. (US), Technicolor (France), HTC Corporation (Taiwan), Vicon Motion Systems Ltd (UK), SideFX (Canada), Epic Games (US), Mo-Sys Engineering Ltd. (UK), are some of the key players in the virtual production market share.

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Driver: Increasing implementation in virtual production of LED wall technology

LED walls for virtual production cinematography are a revolution in the audio-visual industry's film and video productions market share.

They are distinguished by their excellent picture resolution which enables taking photographs on a professional film camera from just a few meters away. When LED displays are combined with camera tracking and virtual production technology tools, new and endless experiences are created, with the potential to generate real-time stage changes, manage light and color, create immersive worlds for performers and users, and minimize production times and costs. Digital projection and LED wall screens have been employed in recent years in most productions to build new virtual sets that replace chromas of the virtual production market share report.

Restraint: Lack of skilled professionals

Virtual production (VP) has experienced an unexpected boom during the pandemic. Globally, virtual production was the first port of call for many in film and episodic television. However, among the various issues raised by the sudden boom included scarce hands-on experience for the exceedingly high demand of the virtual production market share.

Opportunity: Rising trend in OTT platforms

The virtual production market share for the over-the-top platform, often known as OTT, is expected to grow as access to entertainment becomes simpler. The ability to stream an endless library at any moment has accelerated the rise of OTT spaces. The advent of OTT platforms has led to disruptions in the entertainment industry.

It has made movie watching more easy, accessible, and economical to a larger range of people. Anyone with a mobile phone and an internet connection can watch a movie from anywhere on the globe.As stated by the Sony Group, key OTT players such as Netflix, Inc., Hulu, Amazon Prime Video, and Apple TV+ have been spending significantly to offer original content. For instance, the original content spends by these four companies have significantly increased over the years in technology. In 2017, the original content spend was valued at USD 1.17 billion and rose to USD 11.5 billion in 2021.

Challenge: Problems faced in virtual production LED screens

The challenge for virtual production industry is determining how to include powerful technologies into filmmakers' toolsets without disturbing their tried-and-tested procedures.

New breakthroughs can transform the method of working, but if not vigilant, projects can suffer unprecedented delays, and basic problems such as moiré can easily consume a production budget in post-production adjustments.Moiré, also known as aliasing, is a significant problem in virtual production technology that can manifest itself in a variety of ways. It is a complicated, repeated interference pattern created by a mismatch between the sensors of a digital camera. This problem is exacerbated while filming XR Virtual Production with an LED screen.

Adobe Inc. is one of the world's largest and most diverse software companies. It provides a suite of tools and services for photographers, video editors, graphic and experience designers, and game developers; communicators, such as content creators, students, marketers, and knowledge workers; businesses of all sizes; and consumers for creating, managing, delivering, measuring, optimizing, engaging, and transacting with compelling content and experiences across personal computers, smartphones, and other electronic devices. It provides various products that pertain to the virtual production market through the Digital Media segment. It provides products, services, and solutions that enable individuals, teams, and enterprises to create, publish and promote their content anywhere and accelerate their productivity by modernizing how they view, share, engage with, and collaborate on documents and creative content. The segment is centered around Adobe Creative Cloud and Adobe Document Cloud.

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North America accounted for the largest share of the virtual production market share in 2021. Growth can be attributed to the presence of the largest movie industry, increasing budgets for movies, and the use of advanced technology in the media and entertainment industry. As stated in the Theme Report 2021 published by the Motion Picture Association, the expected number of US movies that started filming in 2021 was 943, an increase of 111% from those in 2020 when production was halted due to the COVID-19 pandemic. 226 of these movies had a projected budget higher than USD 15 million, which is a 124% increase from that in 2020 and a 40% rise from that in 2017.

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