The Virtual Production Global Market Report 2023 by The Business Research Company, provides virtual production market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Virtual Production Global Market Report 2023, the market size is expected to grow from $2.15 billion in 2022 to $2.52 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the virtual production market is expected to grow to $4.68 billion in 2027 at a CAGR of 16.8%.
Rising demand for visual effects in movie production across the globe is expected to propel the growth of the virtual production market going forward. Visual effects (VFX) is an imagery modification used to describe visuals created, modified, or augmented for any film or other moving media that does not occur during live-action filming. Visual effects (VFX) enable creators to envision content through virtual production, allowing them to build their concepts earlier.
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The virtual production market is segmented:
1) By Type: Pre-Production, Production, Post-Production
2) By Offering: Hardware, Software, Services
3) By End User: Movies, TV Series, Commercial Ads, Online Videos, Other End Users
Technological advancements are a key trend gaining popularity in the virtual production market. Major companies operating in the virtual production market are focused on developing new technological solutions to strengthen their position. For instance, in September 2020, Magicbox, a US-based company operating in virtual production, launched first Mobile Virtual Production Superstudio™. It’s a semi-trailer that aims to make motion picture technology more accessible to any content creator.
The virtual production market report table of contents includes:
1. Executive Summary
2. Virtual Production Market Characteristics
3. Virtual Production Market Trends And Strategies
4. Virtual Production Market – Macro Economic Scenario
5. Virtual Production Market Size And Growth
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26. Middle East Virtual Production Market
27. Africa Virtual Production Market
28. Key Mergers And Acquisitions In The Virtual Production Market
29. Virtual Production Market Future Outlook and Potential Analysis
30. Appendix
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