The global virtual production market grew at a CAGR of around 18% during 2015-2020. Looking forward, IMARC Group expects the global virtual production market to continue its strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Virtual production is a method of combining live-action footage and computer graphics in real-time. It relies on virtual reality (VR), augmented reality (AR), computer-generated imagery (CGI), and game-engine technologies. It is extensively utilized in filmmaking techniques, such as lensing, concept art, set dimensions, asset placement, and exact camera movements, to produce interactive content. It is also employed in other fields of the entertainment industry like live entertainment, fashion, and news reporting to provide engaging virtual experiences.
The global spread of the coronavirus disease (COVID-19) has disrupted the entertainment industry, halted film and television production, and led to the closure of theaters. As a result, virtual production is gaining widespread adoption in remote filmmaking. It helps to connect teams from different locations, sync files and feedback and offers a seamless experience by creating a digital environment. Apart from this, the rising trend of over-the-top (OTT) platforms, the escalating demand for live video streaming, and the increasing popularity of on-demand content are contributing to the market growth. Moreover, as it includes visualization, motion capture, hybrid cameras, and light emitting diode (LED) live-action, virtual production is used by art and media producers to create modern content with improved quality, increased efficiency, and reduced cost of execution. Furthermore, the increasing accessibility to state-of-the-art game engines and developments in AR and VR technologies are other factors anticipated to provide lucrative opportunities to market players in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual production market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, component, type, and end-user.
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The competitive landscape of the industry has also been examined along with the profiles 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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