Dublin, November 02, 2021 (GLOBE NEWSWIRE) – The “Virtual Production Market Size, Share and Trend Analysis Report by Component (Hardware, Software, Services), by Type, by End User (Film , TV Series, Commercials, Online Videos), by Region and Segment Forecast, 2021-2028 “has been added to ResearchAndMarkets.com offer.
The global virtual production market size is expected to reach USD 4.71 billion by 2028. The market is expected to register a CAGR of 16.7% from 2021 to 2028. The growing popularity of virtual production in the media industry and entertainment, combined with its capabilities to create high definition visuals and real-time virtual environments, is the key factor driving the growth of the market.
The technology allows filmmakers to reduce the demand for on-set production crews and crew members by integrating virtual background environments with live action footage. This allows a significant reduction in video production costs. In addition, technological advances in virtual production help broadcasters improve their operational efficiency with less physical presence of technicians in the broadcast room.
For example, in March 2020, Sky Sports implemented a virtual production suite, which allowed its teams to create content and distribute it remotely. The suite connected 48 virtual desktops and an equal number of direct desktop connections for remote editing, simultaneous live programming, and distribution of live clips directly to social media platforms. While virtual production can produce a movie with better visuals and lower production costs, it also poses some challenges, not least due to the lack of training and experience of industry professionals.
With the advent of artificial intelligence, virtual production technology has seen significant improvements in the quality of its computer-generated graphics. The design and visualization of all the complex scenes in a three-dimensional model has also become practical, which can be further modified and reviewed in a real-time environment. The technology has a positive impact on the market by reducing the burden of transportation and logistics costs on crew members and equipment. It allows filmmakers to capture live action scenes on set using simulated or virtual cameras and seamlessly merge computer-generated 3D graphics with the film’s live footage to conclude with the final visual effects.
Artificial intelligence facilitates pre-production support which helps speed up video production work. In the previous decade, pre-production work relied heavily on unstructured box office data and limited viewer demographic information, which led to the development of less engaging video content. However, artificial intelligence can now generate information from large sets of data collected from various platforms to understand the acceptance and interest of the content offered.
The growing implementation of virtual production in the gaming industry is also working well for the market. Factors such as operating a three-dimensional environment have increased the focus of companies on the development of compact and comfortable virtual gaming devices, and constant technological innovation in virtual production platforms, such as the 3D audio, unattached virtual reality headsets and cloud scalability, are expected to drive growth in the gaming application market. In addition, the introduction of immersive experience enables 360-degree views of graphical content and a new level of game interaction, allowing players to control and modify the game environment through their senses. Hence, the increased application of virtual production technology in games is expected to propel the market growth.
Highlights of the Virtual Production Market Report
- In terms of end user, the Movies segment is expected to generate significant amount of revenue in the market during the forecast period. The growth can be attributed to the growing demand for visual effects and a three-dimensional model in movies.
- In terms of components, the software segment is expected to grow at a significant CAGR due to the inclusion of artificial intelligence. The inclusion should improve animation performance and graphic quality.
- The main players in the market are 360Rize; Adobe; Arashi Vision Inc. (Insta 360); Autodesk Inc .; BORIS FX, INC; Epic Games, Inc .; Human eye technologies; Mo-Sys Engineering Ltd. ; NVIDIA Corporation .; Panocam3d.com; Pixar (The Walt Disney Company); Side Effects Software Inc (SideFX); Technicolor; and Vicon Motion Systems Ltd.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive summary
Chapter 3. Variables, Trends and Scope of Virtual Production Market
3.1 Market segmentation and scope
3.2 Virtual production – Value chain analysis
3.3 Market dynamics
3.3.1 Market drivers
126.96.36.199 Growing Demand for Visual Effects in Film Production Across the World
188.8.131.52 Growing implementation of LED wall technology
184.108.40.206 Growing application of virtual production in commercial advertising
3.3.2 Market restrictions
220.127.116.11 Lack of qualified professionals
18.104.22.168 High investments for the initial set-up
3.4 Industry Analysis – Porter’s
3.4.1 Supplier power
3.4.2 Purchasing power
3.4.3 Threat of substitution
3.4.4 Threat of the new participant
3.4.5 Competitive Rivalry
3.5 Key opportunities – Priorities
3.6 Virtual Production Market – Key Company Analysis, 2020
3.6.1 Key Business Analysis, 2019
3.6.2 List of Major Market Players
3.7 Virtual production – PEST analysis
3.7.3 Social networks
Chapter 4. Virtual Production: Component Perspectives
4.1 Virtual production market share by component, 2020 and 2028
4.2.1 Virtual Software Production Market, by Region, 2018-2028
4.3.1 Virtual Hardware Production Market, by Region, 2018-2028
4.4.1 Virtual Services Production Market, by Region, 2018-2028
Chapter 5. Virtual production: type Outlook
5.1 Virtual production market share by type, 2020 and 2028
5.2.1 Virtual Pre-Production Production Market, by Region, 2018-2028
5.3.1 Production Virtual Production Market, by Region, 2018-2028
5.4.1 Virtual Post-Production Production Market, by Region, 2018-2028
Chapter 6. Virtual production: end-user perspectives
6.1 Virtual production market share by end user, 2020 and 2028
6.2.1 Virtual Film Production Market, by Region, 2018-2028
6.3 TV series
6.3.1 Virtual TV Series Production Market, by Region, 2018-2028
6.4 Commercial announcements
6.4.1 Virtual Commercial Ad Production Market, by Region, 2018-2028
6.5 Online videos
6.5.1 Online Virtual Video Production Market, by Region, 2018-2028
6.6.1 Other Video Platforms Market, by Region, 2018-2028
Chapter 7. Virtual production: regional perspectives
Chapter 8. Competitive landscape
8.1 360 Rize
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product Benchmarking
8.1.4 Recent developments
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Recent developments
8.3 Arashi Vision Inc. (Insta 360)
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product Benchmarking
8.3.4 Recent developments
8.4 Autodesk Inc.
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product Benchmarking
8.4.4 Recent developments
8.5 BORIS FX, INC
8.5.1 Company overview
8.5.2 Product Benchmarking
8.5.3 Recent Developments
8.6 Epic Games, Inc.
8.6.1 Company overview
8.6.2 Product Benchmarking
8.6.3 Recent developments
8.7 HTC Corporation (VivePort)
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product Benchmarking
8.7.4 Recent developments
8.8 Human eye technologies
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product Benchmarking
8.8.4 Recent developments
8.9 Mo-Sys Engineering Ltd.
8.9.1 Company overview
8.9.2 Product Benchmarking
8.9.3 Recent developments
8.10 NVIDIA Corporation.
8.10.1 Company overview
8.10.2 Product Benchmarking
8.10.3 Recent developments
8.11.1 Company overview
8.11.2 Product Benchmarking
8.11.3 Recent developments
8.12 Pixar (The Walt Disney Company)
8.12.1 Company overview
8.12.2 Product Benchmarking
8.12.3 Recent developments
8.13 Side Effects Software Inc (SideFX)
8.13.1 Company overview
8.13.2 Product Benchmarking
8.13.3 Recent developments
8.14.1 Company overview
8.14.2 Product Benchmarking
8.14.3 Recent developments
8.15 Vicon Motion Systems Ltd.
8.15.1 Company overview
8.15.2 Product Benchmarking
8.15.3 Recent developments
For more information on this report, visit https://www.researchandmarkets.com/r/qcy6wa