Major companies in the film and video market include Time Warner; CBS Corporation; Sony; Walt Disney and Twenty First Century Fox. The global film and video market is expected to grow from $234.
New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Film And Video Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009787/?utm_source=GNW
91 billion in 2020 to $251.92 billion in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $318.23 billion in 2025 at a CAGR of 6%.
The film and video market consists of the sales of entities (organizations, sole traders or partnerships) that produce or distribute motion pictures, videos, television programs, or commercials, exhibit motion pictures or provide postproduction and related services. The film and video market is segmented into film and video production; film and video distribution; post-production services; film and video theatres and other film and video industries.
North America was the largest region in the global film and video market, accounting for 41% of the market in 2020. Western Europe was the second largest region accounting for 36% of the global film and video market. Africa was the smallest region in the global film and video market.
Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost effective, light weight and reduce risks associated with cranes and cable cams during film making. Autonomous drones are flying gadgets equipped with multiple rotors, built-in high-resolution camera and algorithms for capturing videos and pictures. It offers 360-degree experiential recording experience with minimum human intervention. They are used to capture aerial shots, taking footages and images without having a cameraman on an actual helicopter. For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu and EHANG.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the film and video markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the film and video market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Rising Demand For Video Content - Mobile video viewing has increased significantly in recent years and is expected to grow further during the forecast period. This is mainly driven by the rise in internet penetration and growth in smart phones usage. For instance, according to a report by Business Inside in 2018, users view more than 500 million hours of videos every day. By 2020, mobile video consumption is expected to increase by 11 times and this is expected to represent 75% of the global mobile data traffic. Thus, rapid increase in mobile video consumption is expected to drive the film and video market during the forecast period.
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