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Virtual Production Market Size was valued at USD 2.98 billion in 2023 and is expected to reach USD 10.17 billion by 2032 and grow at a CAGR of 14.62 % over the forecast period 2024-2032.
Virtual production allows filmmakers to interactively visualize and explore digital scenes within the studio, such as realistic virtual characters, three-dimensional graphics, and a real-time virtual interactive background environment. Over the years, significant advancements in the field of virtual production have resulted in the introduction of solutions that allow filmmakers to transfer an actor's motion-captured movement to virtual characters, which are then previewed in real-time in conjunction with live-action footage and virtual set extension elements. Such solutions assist filmmakers in planning and communicating their creative ideas in novel and intuitive ways.
KEY DRIVERS:
LED wall technology is becoming more widely used.
Visual effects are becoming increasingly popular in the film and television industries.
RESTRAINTS:
Initial capital expenditure is high.
scarcity of skilled professionals.
OPPORTUNITIES:
New virtual production studios are being established.
OTT platforms are becoming more popular.
CHALLENGES:
LED screen problems encountered in virtual production.
COVID-19 first appeared in Wuhan (China) in December 2019, and has since spread throughout the world. The media and entertainment industries have also suffered. As a result, the pandemic will act as a brake on the growth of various markets related to this industry in the coming months. On-site shooting and production is one of the most severely impacted critical areas. The industry is fighting back to recoup its losses and develop new business models. Companies are developing shows for streaming devices in order to monetize. With the increasing penetration of OTT devices, the crisis has accelerated the trend of media streaming. Since the outbreak of this pandemic, streaming companies have seen a significant increase in subscriptions and viewers. This has increased the demand for virtual productions significantly. The COVID-19 pandemic has had a positive impact on the overall growth of the virtual production market.
Based on type, the virtual production market is segmented into Production, Pre-production, and Post-production. In the virtual production market, the production phase is expected to grow at the fastest CAGR. The increased use of virtual production technology aids in project front-loading, early evaluation and editing, and a reduction in the need for guesswork while filming. It also contributes to a smoother phase and helps to limit post-production expenses. This is primarily due to an increase in the number of movies and television shows produced entirely through virtual production technology.
Based on offerings, the virtual production market is segmented into Hardware, Software, and Services. The software segment controlled the majority of the virtual production market. During the forecast period, it is expected to grow at the fastest CAGR. The segment's dominance can be attributed to the growing demand for VFX and computer-generated imagery (CGI) in films. Because of technological advancements, the combination of various other next-generation technologies such as Machine Learning, AI, augmented and virtual reality (AR VR), extended reality (XR), deep learning, and virtual production has boosted growth.
Based on end-user, the virtual production market is segmented into Movies, TV series, Online videos, Commercial ads, and Others. During the forecast period, the television series segment is expected to grow at the fastest CAGR. Some of the factors driving the fastest growth of the television series segment include the increasing dominance of OTT platforms and their ability to reach a large number of audiences.
BY TYPE
Production
Pre-production
Post-production
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BY OFFERINGS
Hardware
Software
Services
BY END USER
Movies
TV series
Commercial ads
Others
North America dominated the market, accounting for more than 40% of the total share. This is due to the widespread use of virtual production in the region's major film studios. Furthermore, significant investments in R&D activities by regional companies to develop advanced virtual production software solutions support regional market growth. Furthermore, the increasing use of visual effects in commercial advertisements and sporting events is propelling the regional market.
Among all regions, the Asia Pacific market is expected to grow at the fastest CAGR during the forecast period. The film and television industries in China, South Korea, Japan, India, and the rest of Asia Pacific are thriving. The continued adoption of virtual production in these industries, as well as the growing number of virtual production studios, contribute significantly to the region's market growth.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the virtual production market are Adobe, Epic Games, HumanEyes Technologies, NVIDIA Corporation, Technicolor, Autodesk, HTC Corporation, Mo-Sys Engineering, Pixar, Vicon Motion Systems & Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.98 Billion |
| Market Size by 2032 | US$ 10.17 Billion |
| CAGR | CAGR of 14.62 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Production, Pre-Production, Post-Production) • By Offerings (Hardware, Software, Services) • By End-User (Movies, TV Series, Online Videos, Commercial Ads, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Adobe, Epic Games, HumanEyes Technologies, NVIDIA Corporation, Technicolor, Autodesk, HTC Corporation, Mo-Sys Engineering, Pixar, and Vicon Motion Systems. |
| Key Drivers | • LED wall technology is becoming more widely used. • Visual effects are becoming increasingly popular in the film and television industries. |
| RESTRAINTS | • Initial capital expenditure is high. • scarcity of skilled professionals. |
Virtual Production Market to reach USD 10.17 billion by 2032
The market has been segmented with respect to type, offering and end user.
North American region dominated the Virtual Production Market.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Virtual Production Market Segmentation, by Type
8.1Introduction
8.2 Production
8.3 Pre-production
8.4 post-production
9. Virtual Production Market Segmentation, by Offerings
9.1Introduction
9.2 Hardware
9.3 Software
9.4 Services
10. Virtual Production Market Segmentation, by End-user
10.1 Introduction
10.2 Movies
10.3 TV series
10.4 Online videos
10.5 Commercial ads
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Epic Games
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Adobe
12.3 HumanEyes Technologies
12.4 NVIDIA Corporation
12.5 Technicolor
12.6 Autodesk
12.7 HTC Corporation
12.8 Mo-Sys Engineering
12.9 Pixar
12.10 Vicon Motion Systems
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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