New York, Dec. 22, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Virtual Production Market Size, Share, Growth, Trends and Global 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)”; the global virtual production market size was valued at USD 1.46 billion in 2020 and is projected to reach USD 4.73 billion by 2028; it is expected to grow at a CAGR of 15.9% during the forecast period from 2021 to 2028.
Download Sample PDF Brochure of Virtual Production Market Size - Global Analysis with Strategic Insights at: https://www.theinsightpartners.com/sample/TIPRE00019499
Global Virtual Production Market – Report Scope:
| Market Size Value in | USD 1.46 Billion in 2020 |
| Market Size Value by | USD 4.73 Billion by 2028 |
| Growth rate | CAGR of 15.9% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 140 |
| No. of Tables | 55 |
| No. of Charts & Figures | 59 |
| Historical data available | Yes |
| Segments covered | Component and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Virtual Production Market: Competitive Landscape and Key Developments
Adobe, NVIDIA Corporation, Autodesk, Inc., Epic Games, Inc., and Unity Technologies are the five key players operating in the market. The above listing of key players is derived by considering multiple factors such as overall revenue, current virtual production solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global virtual production market ecosystem, such as 360Rize, Insta 360, Boris FX, Inc., HumanEyes Technologies, HTC Corporation (Vive), and Mo-Sys Engineering Ltd. A few of the important market initiatives and product developments from the industry are mentioned below:
2021: Boris FX Silhouette announced that its a part of Netflix Post Technology Alliance in the VFX category
2020: AVATOUR employed virtual reality technology to transport users to a remote location in real time, providing a new and effective substitute for travel. The Insta360 builds the 360-degree cameras for AVATOUR.
2020: HumanEyes Technologies introduced New Cloud-Based Suite. HumanEyes Cloud-based Suite utilizes high-performance Edge computing resources to ease and streamline the Capture-Create-Share VR workflow
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00019499
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. The outbreak of COVID-19 has significantly propelled the adoption of virtual production. The virtual production market is experiencing significant growth opportunities due to the growing number of production houses globally. However, lack of aware of virtual production solution in developing countries is hampering the growth of the market. Meanwhile, the increasing use of virtual production solution due to the outbreak of COVID-19 and the rising tread of the OTT platform is expected to garner the growth virtual production market during the forecast period.
Geographically, North America held the largest share of the virtual production market in 2020, followed by Asia Pacific and Europe. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The virtual production market is segmented into component, end user, and geography. Based on component, the market is further categorized into solutions and services. The solutions segment represented the largest share of the overall market in 2020. In terms of end user, the market is segmented into movies, TV series, commercial ads, and online videos. In 2020, the movies segment accounted for a substantial share of the global virtual production market.
Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00019499
Impact of COVID-19 Pandemic on Global Virtual Production Market Growth:
COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then, it has spread across the globe. The media & entertainment industry has also been impacted negatively. Hence, 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.
Film making is one of the biggest applications of virtual production. Companies such as Perforce and Epic Games provide virtual production for movies. Virtual production helps in creating films with extraordinary features and better VFX. For instance, Avatar and The Lion King are among the prominent films, which have used virtual production feature. Virtual production is an emerging technique, which uses array of software tools to unite computer graphics and live action footage in real-time. Avengers: Endgame, 1917, The Irishman, and Star Wars: The Rise of Skywalker are among other movies that have used virtual production. Furthermore, upcoming marvel shows, including Loki, Hawkeye, and The Falcon and the Winter Soldier, are pegged to cost around $25 million/episode. This aspect will boost the adoption of virtual production.
Buy Premium Copy of Virtual Production Market Growth Report (2021-2028) at: https://www.theinsightpartners.com/buy/TIPRE00019499
In addition, trend of VR technology has further accelerated the scope of film making. Virtual production software help in designing and developing digital environments to facilitate filmmakers to grab more growth opportunities from virtual production. For instance, SideFX provides Destruction FX with Houdini’s award-winning particle & dynamics tools. The tool is appropriate for developing blockbuster VFX through particles and more. The virtual production software enables massive simulation through tools to make the visual experience more realistic.
Browse other research published by The Insight Partners:
A2P SMS and CPaaS Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Channel [Message (Chat Apps and SMS), Voice, Email, Webpush, and Others], Enterprise Size (SMEs and Large Enterprises), and Industry (IT & Telecom, BFSI, Retail & E-commerce, Healthcare, and Others)
Event Management Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Hardware (Physical and Hybrid Check-in), Software, and Services (Professional Services, Managed Services)], Deployment (On Premise and Cloud-based), Application (Event Planning, Event Registration and Ticketing, Event Marketing, Content Management, Networking Management, Analytics and Reporting, Audience Management and Communication, Visitor Management, Venue Management, Virtual Lobby Management, and Others ), End User (Trade Show Organizers, Event Management Agencies, Corporates, Academics, Organizations, Associations/Non-profitable Trusts/Government Bodies, and Others)
Global Big Data Analytics Market Size, Share, and COVID-19 Impact Analysis – by Component (Software and Services), Analytics Tool (Dashboard and Data Visualization, Data Mining and Warehousing, Self-Service Tool, Reporting, and Others), Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Workforce Analytics, and Others), End-Use Industry (Pharmaceutical, Semiconductor, Battery Manufacturing, Electronics, and Others), and Regional Forecast (2022–2028)
Events Industry Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Event Type (Virtual, Hybrid, and Physical), Revenue Source (Ticket Sale, Sponsorship, and Others), Type (Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others), Organizer (Corporate, Sports, Education, Entertainment, Association, and Others), Application (B2B and B2C), and Enterprise Size (Small and Medium Enterprises and Large Enterprises)
Urban Planning and Design Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Services), Deployment (On-Premise and Cloud-Based), and Application (Architects, City Planner, and Creative Departments)
Cloud OSS BSS Market Forecast to 2030 - COVID-19 Impact and Global Analysis By Solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product Management, Customer Management, and Others)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, and Others)
Cloud Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Model [Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Large Enterprises and Small & Medium-Sized Enterprises), Solution Type (Email & Web Security, Cloud Identity & Access Management, Data Loss Prevention, Intrusion Detection System/Intrusion Prevention System, Security Information & Event Management, and Others), and Industry Verticals [Banking, Financial Services, and Insurance (BFSI); IT & Telecom; Energy & Utilities; Government & Public Sectors; Healthcare; Manufacturing; and Others]
Online Exam Proctoring Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Advanced Automated Proctoring, Recorded Proctoring, and Live Online Proctoring) and End User (Schools & Universities, Enterprises, and Government)
Lecture Capture System Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component [Hardware, Software (On Premise and Cloud), and Services (Integration & Maintenance Services and Training Services)] and End User (Educational Institutions and Corporates)
Multi-Cloud Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Service), Deployment (Public Cloud and Private Cloud), Application (Infrastructure and Resource Management, Identity and Policy Management, Compliance Management, Metering and Billing, and Provisioning and Lifecycle Management), and Verticals (IT and Telecom, BFSI, Government, Retail and Consumer Goods, Travel and Hospitality, Healthcare and Life Science, and Others) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/virtual-production-market
