Overview and Scope
Virtual production is a one-stage procedure that integrates physical and virtual aspects in real time utilizing a set of software tools. It is used to enable moviemakers to interactively view and explore digital scenarios in the studio.
Sizing and 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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Segmentation & Regional Insights
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
North America was the largest region in the virtual production market share in 2023. The regions covered in the virtual production market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The virtual production market report table of contents includes:
1. Executive Summary
2. Virtual Production Market Characteristics
3. Virtual Production Market Trends And Strategies
4. Virtual Production Market - Macro Economic Scenario
5. Global Virtual Production Market Size and Growth
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32. Global Virtual Production Market Competitive Benchmarking
33. Global Virtual Production Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Production Market
35. Virtual Production Market Future Outlook and Potential Analysis
36. Appendix
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