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The global virtual production market size is estimated to be USD 2.6 billion in 2022 and is projected to reach 5.1 billion by 2027, at a CAGR of 14.5%
during the forecast period. The market has a promising growth potential due to several factors, surging adoption of OTT, increasing implementation of LED Wall technology, and rising demand due to pandemic.
New York, July 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Virtual Production Market by Offering, Type, End User, Region - Global Forecast to 2027" - https://www.reportlinker.com/p06310402/?utm_source=GNW
Virtual production is the process of creating the digital world, beginning with the inception of the movie and ending with the final VFX, centered around real-time interaction on the set. Virtual production has the ability to mix live footage and computer graphics at the same time, enable real-time feedback, and make decisions on the set about the VFX and animation.
Software: The fastest-growing segment of the virtual production market, by offering“
In 2021, the software segment accounted for the largest share of the virtual production market.The advent of technology and the amalgamation of various other next-generation technologies such as machine learning (ML), artificial intelligence (AI), augmented reality (AR), virtual reality (VR), extended reality (XR), deep learning, along with virtual production has bolstered growth.
Continuous organic and inorganic growth strategies adopted by virtual production ecosystem players have enhanced the growth of the market. For instance, In February 2022, Mo-Sys Engineering Ltd. announced that its precision camera tracking system, StarTracker, is fully supported by Assimilate’s Live FX software.
Post-production: The largest end user segment of the virtual production market.
In 2021, the post-production segment accounted for the largest share of the global virtual production market. As of the present, virtual production is at a nascent stage and very few films are produced entirely through virtual production. In hybrid production models, a few shots are shot through virtual production, and wherein some are completely dependent upon VFX, post-production plays a crucial role
North America: The largest region in the virtual production market.
North America led the virtual production market in 2021.The key factors driving the growth of the North American virtual production market include the rising demand for visual effects in movie production and the increasing adoption of studio-based production owing to the restrictions caused by the pandemic.
Further, most of the players in the ecosystem account for large market shares in the North American region when compared to those in other regions.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type– Tier 1- 45%, Tier 2- 35% Tier 3 - 20%
• By Designation— C level - 32%, Managers - 40%, Other Level - 28%
• By Region— North America - 37%, Europe - 40%, Asia Pacific - 15%, RoW- 8%,
The virtual production market is dominated by a few globally established players such as Adobe Inc. (US), NVIDIA Corporation (US), Sony Group (Japan), Autodesk Inc. (US), Technicolor (France), and HTC Corporation (Taiwan).
The study includes an in-depth competitive analysis of these key players in the virtual production market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the virtual production market and forecasts its size, by volume and value, based on region (Asia Pacific, Europe, North America, and RoW), offering(hardware, software and services), type (pre-production, production, post-production), and end users (movies, television series, commercial advertisements, online videos, and others)
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the virtual production market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the virtual production market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06310402/?utm_source=GNW
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