VFX Market – Increase in Usage of Digital Video Streaming Channels is Expected to Lead the Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 10.9% from 2022 to 2028

  • VFX Market

As stated in our extensive report, the Global VFX Market accounted forUSD 26.3 Billionin the year 2021.

The stop-motion animation started as a special effect, basically done in the camera. Soon, other methods were invented to create more VFX in post-production. Such results progressed to the point that differentiation would be required between special effects and VFX. The VFX is entirely done in post-production, and in some cases during the film era, the elements were created in the camera itself. The basic principles of many such VFX have remained the same. However, the tools used in creating or preparing them have changed indeed. VFX includes the addition of live-action footage that might contain in-camera special effects and generated imagery (animals or creatures, digital or optics) that look realistic but can be dangerous and impractical, expensive, time-consuming, or not possible to capture on film. In recent times, VFX through computer-generated imagery (CGI) is becoming easier to get to the independent filmmaker with the launch of inexpensive and quite accessible animation and compositing 10;Moreover, nowadays, VFX is extensively utilized in almost all movies produced. Also, television series & web series are known to make use of VFX.

The rise in demand for high-quality content is significantly fuelling the VFX Market expansion.Furthermore, the growing adoption of digital video content platforms like Netflix, Amazon Prime Video, and Hulu is creating the need for rich content and VFX of all types. Movie studios are also trying to include more animation and VFX-based shots into their films & television series. As a result, studios started investing in VFX to produce feature-rich high-quality content and contend with other digital video streaming service providers, likely influencing the Global VFX Market growth in the future.

North America is leading the VFX Market and will continue to lead in during the forecast period. Key contributors to VFX Market are Canada & the US regions. As Hollywood is the biggest film industry in the world, with several film and animation studios based there. VFX services are highly utilized in several ways in films, series, and documentaries. Additionally, the growing investments in producing high-budget films will fuel the requirement for VFX.

Some of the key players in the Global VFX Marketinclude- Adobe Inc., Animal Logic, Cinesite (Eastman Kodak Company), Digital Domain Holdings Limited, Framestore, Pixomondo, Rodeo FX, Scanline VFX, Sony Pictures Entertainment Inc. (Sony Group Corporation), Technicolor SA, The Foundry Visionmongers Limited, The Walt Disney Company, and others.