Dublin, May 21, 2021 (GLOBE NEWSWIRE) -- The "Virtual Production Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services) and End User (Movies, TV Series, Commercial Ads, and Online Videos)" report has been added to ResearchAndMarkets.com's offering.
Global virtual production market was valued at US$ 1,463.46 million in 2020 and is projected to reach US$ 4,733.04 million by 2028; it is expected to grow at a CAGR of 15.9% from 2021 to 2028.
Virtual production is an emerging technology that utilizes a set of software tools to integrate computer graphics and live-action footage in real-time. Filmmakers and contributors across various locations can deliver feedback across digital or in physical environments where film casts are physically working on set.
Such solutions further enable filmmakers to plan and communicate their creative ideas in new and more intuitive, and enhanced ways. All these aspects would help in accelerating the growth of virtual production market globally.
The initial years of 21st century bolstered the knowledge exchange across the globe as the adoption of internet was gaining traction at individual and residential level; however, the knowledge transfer was majorly through static medium (text).
Moreover, with the rising advancements in internet/telecom infrastructure (introduction of 3G and 4G), coupled with affordable prices of media devices such as smartphone, tablets, laptops, computers, and TVs, the knowledge was majorly transferred through dynamic medium (video and moving graphics).
Furthermore, owing to the affordable prices of internet coupled with rapid advancements in camera technology, content creation gained significant traction at an individual level. Content creators across the globe are utilizing various editing and graphic tools to enhance the quality of video content to attract more viewers. Thus, with the increasing number of content creators, coupled with the growing adoption of advanced editing tools, the virtual production market is anticipated to witness significant growth during the forecast period.
The pandemic would act as a restraining factor for the growth of various markets related to this industry in the coming months. One of the highly impacted critical areas is on-site shooting and production. The industry is fighting back to recover the loss and come up with new business models.
To monetize, the companies are coming up with shows on streaming devices. The crisis has accelerated the trend of media streaming with the increasing penetration of OTT devices. The streaming companies are getting a significant number of subscriptions and viewers since the start of this pandemic. This has significantly created a demand for virtual productions. The COVID-19 pandemic has positively impacted the growth of the overall virtual production market.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Virtual Production Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
4.5 Premium Insights
4.5.1 LED Display Market Size and Growth
4.5.2 LED Display Market Size- By Application
4.5.3 LED Display Market Size- By Geography
5. Virtual Production Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Number of Production Houses Globally
5.1.2 Enhanced Cost and Time Savings for Production Houses and Content Creators
5.2 Key Market Restraints
5.2.1 Lack of Awareness in Developing Countries
5.3 Key Market Opportunities
5.3.1 Increasing in usage of virtual production solution
5.4 Future Trends
5.4.1 Rising Trends of OTT Platforms
5.5 Impact Analysis of Drivers and Restraints
6. Virtual Production Market - Global Analysis
6.1 Virtual Production Market Global Overview
6.2 Virtual Production Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Virtual Production Market - By Component
7.2 Virtual Production Market, by Component (2020 and 2028)
8. Virtual Production Market - By End User
8.2 Virtual Production Market, by End User (2020 and 2028)
8.4 Commercial Ads
8.5 Online Videos
8.6 TV Series
9. Virtual Production Market - Geographic Analysis
10. Virtual Production Market - COVID-19 Impact Analysis
11. Global Virtual Production Market-Industry Landscape
11.2 Market Initiative
11.3 New Development
11.4 Merger and Acquisition
12. Company Profiles
Epic Games, Inc
HTC Corporation (VIVE)
MO-SYS Engineering LTD
Brompton Technology Ltd
For more information about this report visit https://www.researchandmarkets.com/r/lhwxpj
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