Global Visual Effects (VFX) Market to Reach US$ 18 Billion by 2032, Stimulated by Technological Advancements

December 18, 2023

According to the latest report by IMARC Group, titled “Visual Effects (VFX) Market Report by Component (Software, Services, Hardware), Product (Simulation FX, Animation, Modelling, Matte Painting, Compositing), Technology (AI (Artificial Intelligence), AR (Augmented Reality)), Application (Movies, Television, Gaming, Advertisements, and Others), and Region 2024-2032,” the global visual effects (VFX) market size reached US$ 10.0 Billion in 2023. Visual effects (VFX) refer to the procedure of creating, manipulating, or enhancing imagery in a digital or post-production environment to achieve desired aesthetic or storytelling goals. The procedure helps in creating 3D models, textures, and animations using specialized software. It also combines multiple visual elements into a single frame or scene seamlessly. It creates realistic simulations of natural phenomena like fire, water, or smoke. It enables storytellers to bring their creative visions to life, expanding the possibilities of storytelling. It can save valuable time in post-production, thereby streamlining the editing process.

Global Visual Effects (VFX) Market Trends:

At present, the escalating demand for immersive experiences in entertainment with the advent of virtual reality (VR) and augmented reality (AR) technologies represents one of the crucial factors impelling the growth of the market. Besides this, the rising proliferation of streaming services is contributing to the market growth. The increase in content creation is catalyzing the demand for VFX services to deliver visually stunning and unique experiences to viewers. In addition, Innovations in rendering, animation, and simulation technologies are enabling VFX artists to create more realistic and visually appealing effects. Apart from this, the adoption of artificial intelligence (AI) and machine learning (ML) is streamlining the VFX production process, making it more efficient and cost-effective. Additionally, the rising employment of VFX in various industries, such as architecture, automotive design, and advertising is supporting the market growth. Looking forward, the market value is projected to reach US$ 18 Billion by 2032, expanding at a CAGR of 6.7% during 2024-2032.

Market Summary:

  • Based on the component, the market has been segmented into software, services, and hardware. Software currently dominates the market, holding the largest share.
  • On the basis of the product, the market has been segregated into simulation FX, animation, modelling, matte painting, and compositing. Simulation FX represents the biggest segment.
  • Based on the technology, the market has been bifurcated into AI (artificial intelligence) and AR (augmented reality).
  • On the basis of application, the market has been divided into movies, television, gaming, advertisements, and others. Presently, movies exhibit a clear dominance in the market.
  • Region-wise, the market has been classified 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 (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America accounts for the majority of the market share. 
  • The competitive landscape of the market has also been examined, with some of the key players being Adobe Inc., Animal Logic (Netflix), Cinesite, Digital Domain, Framestore, Pixomondo (Sony Pictures Entertainment Inc.), Rodeo FX, Technicolor SA, The Foundry Visionmongers Limited and The Walt Disney Company.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Product, Technology, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adobe Inc., Animal Logic (Netflix), Cinesite, Digital Domain, Framestore, Pixomondo (Sony Pictures Entertainment Inc.), Rodeo FX, Technicolor SA, The Foundry Visionmongers Limited and The Walt Disney Company
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Visual Effects (VFX) Market to Reach US$ 18 Billion by 2032, Stimulated by Technological Advancements
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