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The latest report by IMARC, titled “ VirtualProductionMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast20 23-2028
” the global virtual production market is expected to grow at a CAGR of 11% during 2023-2028.
Virtual production (VP) refers to a process in which various software tools are used to mix live-action footage and computer graphics in real-time to create a seamless experience for studios and the future audience. It also helps build a digital world by enabling studios to connect with global teams and sync large files and feedback.
It unites global artists, producers, supervisors and engineers to track, manage, discuss, and review visuals in near-real-time. As a result, video production solutions are used to create content for architecture, engineering, construction, games, film, television, automotive, simulation, manufacturing and advertising industries.
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With the onset of coronavirus disease (COVID-19), there has been a rising adoption of over-the-top (OTT) platforms. This has escalated the demand for live video streaming and the increasing popularity of on-demand content, in turn contributing to the market growth. Besides this, virtual production is widely adopted in the gaming industry as it aids game developers to learn about camera techniques used by DOPs to elevate the quality of gaming visuals.
Moreover, technological advancements in virtual production software solutions have led to the development of engaging content by incorporating advanced VFX features. Furthermore, the innovations in virtual production technologies have led to scalable studio design with adjustable walls, different resolution screens and interactive lighting attached to the screens, depending on interiors or exteriors.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyComponent:
• Hardware
• Software
• Services
BreakupbyType:
• Pre-production
• Production
• Post-production
BreakupbyEndUser:
• Movies
• TV Series
• Commercial Ads
• Online Videos
• Others
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• 360Rize
• Adobe Inc.
• Autodesk Inc.
• BORIS FX Inc
• Epic Games Inc.
• HTC Corporation
• HumanEyes Technologies Ltd.
• Mo-Sys Engineering Ltd.
• NVIDIA Corporation
• Panocam3d.com
• Pixar (The Walt Disney Company)
• Side Effects Software Inc.
• Technicolor SA (Streamland Media)
• Vicon Motion Systems Limited (Oxford Metrics PLC)
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