The global virtual production market size was valued at USD 1.41 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2021 to 2028. Virtual production enables filmmakers to interactively visualize and explore digital scenes such as realistic virtual characters, three-dimensional graphics, and a real-time virtual interactive background environment within the studio. Vast developments in the field of virtual production over the years have led to the introduction of solutions that allow filmmakers to transfer the motion-captured movement of an actor to virtual characters, which are then previewed in real-time, in combination with live-action footage and virtual set extension elements.
The rising popularity of web series containing visual effects and three-dimensional graphic environments is encouraging video-makers to implement virtual production technology in their video content. Popular web and television series such as Game of Thrones, The Last Kingdom, Black Mirror, and Outlander have extensively implemented visual graphics to create epic and historical scenes. VFX helps produce high-quality video content with realistic graphic characters and artificial scenes that enrich the viewing experience. Moreover, virtual production technology helps reduce video production costs by eliminating the need to shoot at expensive sites and bringing pre-visualization (a part pre-production process) on set.
Key Player Mentioned:
- 360Rize
- Adobe
- Arashi Vision Inc. (Insta 360)
- Autodesk Inc.
- BORIS FX, INC
- Epic Games, Inc.
- HTC Corporation (VivePort)
- HumanEyes Technologies
- Mo-Sys Engineering Ltd.
- NVIDIA Corporation.
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Product Segment Analysis:
- Pre-production
- Production
- Post-production
Application Segment Analysis:
- Movies
- TV Series
- Commercial Ads
- Online Videos
- Others
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
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The increased adoption of the LED video wall technology is augmenting the implementation of virtual production across the media and entertainment sectors. LED video walls display computer-generated graphics in the background and enable filmmakers to capture visual effects in real-time. LED video wall screens create a realistic background visual that replaces an actual shoot location while saving the entire crew time and money. For instance, The Mandalorian TV series has extensively used semicircular LED video walls for the in-house shoot and the virtual production technology for overall production, eliminating the need for on-location shoots.
With the advent of advanced technologies in virtual production, filmmakers can create more advanced computer graphic characters using facial-capture training data to transform visuals into real-time characters. The most recent example of advanced visual effects is the transformation of actor Josh Brolin’s face into the lead villain Thanos in the latest Marvel Avengers Movies. Artificial intelligence and machine learning features are expected to further enhance the quality of visual effects and simplify the design process of a three-dimensional model.
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