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VFX Market

VFX Market

VFX Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

146

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1773

Segments Covered
  • By Component Software, Services, Hardware
  • By Technology Artificial Intelligence (AI), Augmented Reality (AR)
  • By Application Movies, Television, Gaming, Advertisements, Other Applications
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 26.3 Billion
Revenue 2028Revenue 2028: USD 48.9 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 10.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
VFX Market Share

Market Synopsis:

The Global VFX Market was valued at USD 26.3 Billion in 2021 and is expected to reach a value of USD 48.9 Billion by 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 10.9% over the forecast period.

Visual effects, also known as VFX, are special effects that strongly reflect the visual depiction of the plot and have been used in movies since most of the earliest. Since then, visual effects have been utilized frequently, not simply special effects. For example, films often employed matte paintings to fabricate ceilings that didn't exist on the set. Visual effects are used to create a sight that can't be photographed. Live-action videos and digitally produced images are combined in this procedure to produce realistic sceneries. In addition, CGI-based visual effects are frequently employed in creating video games, advertising, movies, and television shows.

VFX Market Size, 2021 To 2028 (USD Billion)

The demand for high-quality (HQ) content by consumers and an increase in the use of visual effects in the film are predicted to propel the expansion of the VFX software industry. In a movie, visual effects technology is essential since it supports the plot and the characters. It helps a filmmaker in effectively completing the complex and expensive portions of the shots. It has grown to be a vital component of the movie business because VFX benefits both the filmmakers and the viewers. The rise in interest in VFX in the media and entertainment sector and financial experts' use of VFX techniques for cost pay are the key factors driving the global effects of visual effects in markets.

The rising demand for high-quality material is another factor boosting the growth of the Global VFX industry. The advent of augmented reality is fuelling the development of the Global VFX industry (AR). For new experiences like augmented reality (AR), there is a growing need for innovation in visual effects. Film production companies include AR in current cameras to detect issues with VFX shoots and post-production. Filmmakers can test scenes using built-in AR cameras to choose the best one. The increased potential of augmented reality in the media and entertainment sectors has led to an increase in the use of AR by visual effects service providers.

Market Segmentation:

The VFX Market is segmented based on Component, Technology, Application, and Region. Furthermore, the market is sub-segmented into Software, Services, and Hardware based on the segment Component. Similarly, the market is sub-segmented into Artificial Intelligence (AI) and Augmented Reality (AR) based on the segment of Technology. Finally, the market is sub-segmented into Movies, Television, Gaming, Advertisements, and Other Applications, based on the segment Application.

Below tree is interactive. You can click the nodes to get more information.

Based on Technology:

The Artificial Intelligence (AI) sub-segment dominates the market and is forecast to dominate in the forecast period. To enhance the creation of character-based VFX shots, Artificial Intelligence (AI) is employed in VFX rendering. The VFX related domains of camera tracking, motion capture, simulation, rendering, character animation, and image processing can be automated thanks to Artificial Intelligence (AI). Artificial Intelligence (AI) is usually used in the rendering stage of post-production for VFX. The production pipeline for VFX can be altered and improvised using Artificial Intelligence (AI) techniques, which can also move the process of on-set graphic systems from post-production to pre-production and put it in real-time.

Based on Application:

The Movie sub-segment dominates the market and is forecast to continue its trend in the upcoming years. The growing popularity of VFX based Movies and the ever-increasing demand from viewers for more realistic movie experiences propels the movie market. With the advent of Virtual Reality (VR) and 3D film, the usage of VFX in filmmaking has given rise to new entertainment experiences. Film production companies use real-time rendering visual effects to create VR films, convey tales, and display visually compelling content. It enables the filmmakers to construct things, animals, settings, and characters that would be highly challenging or nearly impossible to film in the context of live-action images.

Asia Pacific is Projected to Grow at the Highest CAGR during the Forecast Period

Asia Pacific is forecast to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period (2022-2028). The demand for animation and VFX is expanding, especially in China, due to the increasing consumption of more immersive material over various platforms, including head-mounted devices, tablets, and smartphones with ultra-high resolution as ultra-high-definition TVs. In addition, the education and academic market are anticipated to increase significantly due to this region's curriculum developing several training programs, software, and e-learning platforms that use simulated content and videos. The need for animation and VFX products is being driven, particularly in China, by the rising consumption of increasingly immersive material across various channels, including ultra-high-definition TVs, tablets, smartphones, and head-mounted devices. In addition, several educational institutions want to include simulation technology in their educational systems to give students a more advanced learning environment.

Competitive Landscape:

The key players in the Global VFX Market include- 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.

Segmentation of the Global VFX Market:

Parameter Details
Segments Covered
  • Component (Software, Services, Hardware)
  • Technology (Artificial Intelligence (AI), Augmented Reality (AR))
  • Application (Movies, Television, Gaming, Advertisements, Other Applications)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 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
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

VFX Market to Reach Valuation of USD 48.9 Billion by 2028 – Superior Quality Content among Consumers Drives the Market
In terms of revenue, the Global VFX Market is expected to reach USD 48.9 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 10.9% from 2022 to 2028. The VFX Market is entirely done in post-production, and in some cases during the film era, the elements are created in the camera i...
FAQ
Frequently Asked Question
  • The global VFX valued at USD 26.3 Billion in 2020 and is expected to reach USD 48.9 Billion in 2028 growing at a CAGR of 10.9%.

  • The prominent players in the market are 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.

  • The market is project to grow at a CAGR of 10.9% between 2021 and 2028.

  • The driving factors of the VFX include

    • Increase in use of visual effects in movies

  • North America was the leading regional segment of the VFX in 2020.