Press release
Virtual Production Market Trends, Top Companies, Share, Growth And Forecast 2033
Virtual Production Market
The Business Research Company offers in-depth market insights through Virtual Production Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The virtual production market size has grown rapidly in recent years. It will grow from $2.51 billion in 2023 to $2.92 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to increasing use of virtual production in the film industry, expansion of the gaming industry, integration of machine learning and deep learning into virtual production, demand for realism.
The virtual production market size is expected to see rapid growth in the next few years. It will grow to $5.6 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to rising visual effects and computer-generated graphics, increased use of virtual production for live events and concerts, adoption of virtual production in the automotive and aerospace industries, expanded content creation, rise in streaming platforms. Major trends in the forecast period include technological advancements, development of new virtual production technologies and solutions, integration of artificial intelligence (AI) and machine learning (ML), blockchain in content creation.
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Market Segmentation:
The virtual production market covered in this report is segmented -
1) By Type: Pre-Production, Production, Post-Production
2) By Offering: Hardware, Software, Services
3) By End User: Movies, TV Series, Commercial Ads, Online Videos, Other End Users
Major Driver - Surging Demand For Visual Effects In Global Film Production Fuels Remarkable Growth In The Virtual Production Market
Rising demand for visual effects in movie production across the globe is expected to propel the growth of the virtual production market going forward. Visual effects (VFX) are an imagery modification used to describe visuals created, modified, or augmented for any film or other moving media that does not occur during live-action filming. Visual effects (VFX) enable creators to envision content through virtual production, allowing them to build their concepts earlier. For instance, in August 2022, according to Livemint, an Indian-based financial daily newspaper, Visual effects currently accounts for 10-15% of the budget for an Indian movie and will rise to 30-35% in the coming years. Further, in October 2020, according to the Vancouver Economic Commission, a Canada-based economic development agency, the B.C. film, television, visual effects, and animation industry broke new records in 2019, spending more than $4.1 billion. More than $3.1 billion was spent on physical production, accounting for the sheer volume of post-production and animation activity. Therefore, increasing demand for visual effects in movie production will drive the virtual production market.
Competitive Landscape:
Major companies operating in the virtual production market report are Sony Group Corporation, NVIDIA Corporation, Adobe Inc., Epic Games Inc., Autodesk Inc., Technicolor SA, Arashi Vision Inc., Unity Software Inc., Pixar Animation Studios, ARRI Aktiengesellschaft, Double Negative Visual Effects, Perforce Software Inc., HTC Corporation, Mo-Sys Engineering Ltd., The Third Floor Inc., FuseFX Inc., Vicon Motion Systems Ltd., SideFX, Pixotope Technologies AG, SolidAnim Ltd., TILTLABS Inc., Fabric Engine Inc., HumanEyes Technologies Ltd., Lightcraft Technology Ltd., 360Rize Inc., 80six Ltd., Zero Density Ltd., Boris FX Inc., TREE Digital Studio Inc., VIVE Mars CamTrack, Panocam3d.com, Wcta Fx Ltd., Golaem, MocapX Inc.
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https://www.thebusinessresearchcompany.com/report/virtual-production-global-market-report
Top Trend - Driving Innovation In Virtual Production With Innovative Displays
Major companies operating in the virtual production market are increasing their focus on introducing innovative products, such as microLED displays , to gain a competitive edge in the market. MicroLED refers to a display technology that uses an array of tiny LED modules to create individual pixels. For instance, in May 2023, LG Corporation, a South Korea-based consumer electronics company, launched the LG Magnit. This microLED display is specially designed for virtual production studios and extended-reality (XR) stages. The LG Magnit produces deep blacks and natural, vibrant colors, making it ideal for creating immersive visual experiences. It synchronizes with monitors, cameras, camera trackers, and production computers to seamlessly blend virtual and live-action elements. The LG Magnit is versatile and can be customized to suit large-screen configurations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Virtual Production Market Characteristics
3. Virtual Production Market Trends And Strategies
4. Virtual Production Market - Macro Economic Scenario
5. Virtual Production Market Size And Growth
…..
27. Virtual Production Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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