Visual Effects (VFX) Market Recorded 8.42% CAGR in 2020, Trends, Market Dynamics, Segmentation and Vendor Landscape

NEW YORK, July 19, 2022 /PRNewswire/ — The Visual Effects (VFX) Market is Expected to Grow by $4.28 billion, progress to a 8.99% CAGR according to Technavio’s latest market report. The use of AI in visual effects is the major trend that growth in the visual effects market. AI is used in VFX rendering to improve the production of character-based VFX shots. AI provides automation for camera tracking, motion capture, simulation, rendering, character animation, and image processing, areas that use visual effects. AI is mainly used in the post-production process for VFX rendering to minimize the use of human resources. The use of AI in visual effects can change the visual effects production pipeline and move the process from graphics systems to set in real time, from post-production to pre-production. Real-time VFX shot processing also provides opportunities for automating VFX models, eliminating the need for texturing, lighting, and rendering. AI is used to develop computer graphic characters by placing hundreds of radium-colored dots on a person’s face, captured by vertically aligned HD cameras. The HD cameras analyze the low-quality rendering of the face to process it using artificial intelligence algorithms and a library of high-resolution face scans, with a wide variety of expressions. AI uses an algorithm to process low resolution scans and processes high resolution face scans with the required expression.

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Technavio has announced its latest market research report titled Visual Effects Market by Application and Geography – Forecast and Analysis 2020-2024

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Visual Effects (VFX) Market: Market Dynamics

  • Drivers: Growing demand for high-quality content, real-time rendering in VFX production, and growing number of acquisitions and partnerships is one of the major factors propelling the growth of the market.

  • Challenges: The factors such as storage issues associated with VFX rendering, high investments, low profit margins, and shortage of skilled personnel will hamper the growth of the market.

  • Attach Successful Business Strategies with Detailed Insights on Market Drivers and Challenges – Click now!

Visual Effects (VFX) Market: Segmentation Analysis

Application landscape

  • The growth of the visual effects market share in the movie segment will be important for revenue generation. The cinema segment is driven by the growing demand for realistic cinematic experiences by audiences and the growing popularity of visual effects-based films. The use of VFX in the filmmaking process has led to new entertainment experiences with VR and 3D films. Film production studios use real-time rendering visual effects to create VR movies and present fictional stories, tell stories, and depict content-rich visuals.

Geography Landscape

  • 42% of market growth will come from North America during the forecast period. The United States and Canada are the main visual effects markets in North America. The growth of the market in this region will be faster than the growth of the market in Europe, MEA and South America. The overall increase in the consumption of high-quality content and the start of film production studios will facilitate the growth of the visual effects market in North America during the forecast period

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Visual Effects (VFX) Market: Vendor Analysis

The visual effects market is fragmented and vendors are focusing on mergers and acquisitions and entering into partnerships with other players to compete in the market.

  • Luxury Entertainment Services Group Inc.

  • Digital Domain Holdings Ltd.

  • Digital Idea Corp.

  • Eastman Kodak Co.

  • Framestore Ltd.

  • Hydraulx VFX Ltd.

  • Rodeo FX Inc.

  • Sony Corp.

  • Technicolor AG

  • The Walt Disney Co.

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What our reports offer:

  • Market share assessments for regional and country segments

  • Strategic recommendations for new entrants

  • Covers market data for 2020, 2021 and 2025

  • Market Trends (Drivers, Opportunities, Threats, Challenges, Investment Opportunities and Recommendations)

  • Strategic recommendations in key business segments based on market estimates

  • Competitive landscaping mapping major common trends

  • Company profiling with detailed strategies, financials and recent developments

  • Supply chain trends mapping the latest technological advancements

Related reports:

  • The post-production market the size should increase by $20.75 billion from 2021 to 2026 at an accelerated CAGR of 12.72%.

  • The online cinema market share is expected to increase by $17.94 billion from 2021 to 2025 at a CAGR of 19.50%.

Visual Effects (VFX) Market Scope

Report cover

Details

Page number

120

Year of reference

2019

Forecast period

2020-2024

Growth momentum and CAGR

Accelerate at a CAGR of 8.99%

Market Growth 2020-2024

$4.28 billion

Market structure

Fragmented

Annual growth (%)

8.42

Regional analysis

North America, APAC, Europe and South America

Successful market contribution

North America at 42%

Main consumer countries

United States, Canada, China, India and France

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Deluxe Entertainment Services Group Inc., Digital Domain Holdings Ltd., Digital Idea Corp., Eastman Kodak Co., Framestore Ltd., Hydraulx VFX Ltd., Rodeo FX Inc., Sony Corp., Technicolor SA and The Walt Disney Co.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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