Summary
Major players in the virtual production market are Adobe Inc., NVIDIA Corporation, Autodesk Inc., Technicolor SA, VIVE Mars CamTrack, Vicon Motion Systems Ltd., SideFX, Epic Games Inc., Mo-Sys Engineering Ltd., Sony Group Corporation, HumanEyes Technologies, Panocam3d.com, Pixar (The Walt Disney Company), Perforce Software Inc., Wcta Fx, Dneg, and Tiltlabs.
The global virtual production market is expected to grow from $2.15 billion in 2022 to $2.52 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The virtual production market is expected to grow to $4.68 billion in 2027 at a CAGR of 16.8%.
The virtual production market includes revenues earned by entities by providing virtual production solutions such as set-scanning and digitalization, visualization, performance capture, on-set visualization, and in-camera visual effects (ICVFX).The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Virtual production is a one-stage procedure that integrates physical and virtual aspects in real time utilising a set of software tools. It is used to enable moviemakers to interactively view and explore digital scenarios in the studio.
North America was the largest region in the virtual production market in 2022. The regions covered in the virtual production report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of virtual production are pre-production, production, and post-production.Production refers to something that is prepared for public presentation.
The offerings are hardware, software, and services, which are used in movies, TV series, commercial ads, online videos and others.
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) is 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 account 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 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 effect in moive production will drive the virtual production market.
Technological advancements are a key trend gaining popularity in the virtual production market.Major companies operating in the virtual production market are focused on developing new technological solutions to strengthen their position.
For instance, in September 2020, Magicbox, a US-based company operating in virtual production, launched first Mobile Virtual Production Superstudio™. It’s a semi-trailer that aims to make motion picture technology more accessible to any content creator.
In November 2021, Netflix, a US-based subscription streaming service and production company acquired Scanline VFX for an undisclosed amount.This acquisition marks the US streaming service’s first deal to take control of a major player in the special effects industry.
Scanline VFX is a US-based company operating in virtual production.
The countries covered in the virtual production market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The virtual production market research report is one of a series of new reports that provides virtual production market statistics, including virtual production industry global market size, regional shares, competitors with a virtual production market share, detailed virtual production market segments, market trends and opportunities, and any further data you may need to thrive in the virtual production industry. This virtual production market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
