Summary
The APAC camera tracking software market is expected to grow from US$ 95.03 million in 2021 to US$ 243.68 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2021 to 2028. Mounting use of artificial intelligence (AI) technology is escalating the market growth in APAC. AI is taking over the media and entertainment industry, in particular, film industry. Various subsets of AI, namely machine learning and deep learning, are now being used in computer graphics; most recently, these technologies have been used in camera tracking, simulation, motion capture, character animation, image processing, rotoscoping, and compositing. Machine learning is already being used in sketching various characters. For instance, the character of “Thanos” in Marvel Studio’s Avengers series was developed based on the AI technology. The visual effect studio used a type of machine learning to transform the body of Josh Brolin, an American actor portraying Thanos, into the body of the character. His face that was captured with head-cam camera for this transformation. During this process facials capture training data was utilized. The camera tracking software helps in inserting CGI in the live action footage. The software providers leverage the capabilities of machine learning to up scale the overall match moving process. For instance, the latest camera tracking software releases by Andersson Technologies incorporated or extensively used the capabilities of AI. In 2019, the company released its new version of SynthEyes (a camera tracking software) that takes help of neural network-based automatic and supervised tracking process. In line with Andersson Technologies, many other software providers in APAC are now investing in research and development to build the most advanced camera tracking software products, which will drive the APAC camera tracking software market in coming years.
India is the worst-affected APAC country by the COVID-19 pandemic.The region constitutes a few of the world’s two most populated countries.
Moreover, India and China, among others, are hubs of manufacturing.China virtually imposed strict lockdown and social isolation, which almost halted the manufacturing and production for several weeks.
Moreover, the country also suspended the import as well as export of critical raw materials and components, which resulted in the disruption of the global supply chains in early 2020.India also imposed a nationwide lockdown to slow down the infection spread.
The shutdown and disruption of commercial activities across China and India contributed to the disruption of supply chain of various raw material and goods as well as to the shortage of skilled laborers. In addition, the cancellation or discontinuation of various big film projects led to huge losses to the media and entertainment sector. In India, big film releases were postponed, TV and web series shootings were halted, theaters stopped screening movies, and daily wage employees were struggling for their meal. As of May 2021, India is suffering from the second wave of the pandemic, and many states are under strict lockdown. However, other countries in APAC, particularly China and South Korea, have started recovering slowly and steadily.
Based on component, the APAC camera tracking market is segmented into software and services; the services segment is expected register a higher CAGR in the market during forecast period.The camera tracking market players operating in APAC provide professional services that include training and consulting, deployment and integration, training, and maintenance and support.
Being intangible assets of companies, services play a critical role in boosting their core competence.Service offerings enable the service providers to stay agile and drive innovation, along with allowing them to effectively respond to the market changes.
Autodesk Inc., one of the largest companies in APAC, offers a range of targeted services to help businesses getting the most from its camera tracking software offerings. Thus, the benefits of services in ensuring efficiency and customization of camera tracking processes are driving the APAC camera tracking software market growth.
The APAC camera tracking software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC camera tracking software market.
The process also serves the purpose of obtaining overview and forecast for the APAC camera tracking software market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC camera tracking software market. Adobe; Andersson Technologies LLC; Autodesk, Inc.; Blackmagic Design Pty. Ltd.; Maxon Computer GmbH; The Foundry Visionmongers Limited; and Vicon Motion Systems Ltd are among a few players operating in the APAC camera tracking software market.
