According to the latest report by IMARC Group, titled “Virtual Production Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global virtual production market is expected to exhibit a CAGR of 11.2% during 2022-2027. Virtual production (VP) refers to a process in which various software tools are used to mix live-action footage and computer graphics in real-time to create a seamless experience for studios and the future audience. It also helps build a digital world by enabling studios to connect with global teams and sync large files and feedback. It unites global artists, producers, supervisors and engineers to track, manage, discuss, and review visuals in near-real-time. As a result, video production solutions are used to create content for architecture, engineering, construction, games, film, television, automotive, simulation, manufacturing and advertising industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Production Market Trends:
With the onset of coronavirus disease (COVID-19), there has been a rising adoption of over-the-top (OTT) platforms. This has escalated the demand for live video streaming and the increasing popularity of on-demand content, in turn contributing to the market growth. Besides this, virtual production is widely adopted in the gaming industry as it aids game developers to learn about camera techniques used by DOPs to elevate the quality of gaming visuals. Moreover, technological advancements in virtual production software solutions have led to the development of engaging content by incorporating advanced VFX features. Furthermore, the innovations in virtual production technologies have led to scalable studio design with adjustable walls, different resolution screens and interactive lighting attached to the screens, depending on interiors or exteriors.
- Based on the component, the market has been segmented into hardware, software and services.
- On the basis of the type, the market has been categorized into pre-production, production and post-production.
- The market has been classified based on the end user into movies, TV series, commercial ads, online videos and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Mexico, Brazil and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 360Rize, Adobe Inc., Autodesk Inc., BORIS FX Inc, Epic Games Inc., HTC Corporation, HumanEyes Technologies Ltd., Mo-Sys Engineering Ltd., NVIDIA Corporation, Panocam3d.com, Pixar (The Walt Disney Company), Side Effects Software Inc., Technicolor SA (Streamland Media) and Vicon Motion Systems Limited (Oxford Metrics PLC).
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