Visual effects (VFX) market size to grow by USD 8,898.82 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Dec 20, 2022 /PRNewswire/ — Technavio categorizes the global visual effects (VFX) market as a part of the global movies and entertainment market, which covers companies offering products, services, and solutions in advertising, broadcasting, cable and satellite, publishing, movies and entertainment, interactive home entertainment, and interactive media and services.

The global visual effects (VFX) market size is estimated to increase by USD 8,898.82 million between 2022 and 2027. The market’s growth momentum will be progressing at a CAGR of 13.71% during the forecast period.

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Visual effects (VFX) market – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria

• Adoption rates

• Lifecycle adoption

• Drivers of price sensitivity

• Get detailed insights into this market study. Buy the report!

Visual effects (VFX) market – Vendor Analysis
Vendor Landscape – The global visual effects (VFX) market is fragmented due to the presence of several global and regional vendors. Global vendors have a strong foothold in the market. They are continuously strengthening their customer base by enhancing their product offerings and expanding their geographic reach. Also, they are focusing on M&A and entering into partnerships with other players to expand their product portfolio, enter emerging markets, and boost their market shares. All these factors are expected to increase the competition in the market during the forecast period.

Some of the prominent vendors in the market include Animal Logic Pty Ltd., Deluxe Media Inc., Digital Domain Holdings Ltd., Digital Idea Corp., Double Negative Ltd., Flatworld Solutions Pvt. Ltd., Framestore Ltd, Hydraulx VFX Ltd, Ingenuity Studios Inc., Makuta Effects Pvt. Ltd., Rodeo FX Inc., Scanline VFX, Sony Group Corp., Spin VFX, Technicolor SA, The Walt Disney Co., Tippett Studio Inc., and Weta Digital Ltd. and others.

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Vendor Offerings –

• Deluxe Media Inc. – The company offers visual effects for content creators, broadcasters, and streaming platforms.

• Digital Domain Holdings Ltd. – The company offers visual effects such as virtual, mixed, and augmented realities.

• Digital Idea Corp. – The company offers visual effects for the Korean entertainment industry.

• Double Negative Ltd. – The company offers visual effects for films and episodic visuals.

Visual effects (VFX) market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (movies, television, games, and advertisements), component (software, services, and hardware), and geography (North AmericaAPAC, Europe, Middle East and Africaand South-America).

• By application, the market growth will be significant in the movies segment during the forecast period. The increased use of VFX in movie production and the rising demand for realistic movie experiences by audiences are driving the growth of the segment.

Geography Overview
By geography, the global visual effects (VFX) market is segmented into North AmericaAPAC, Europe, Middle East and Africaand South-America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global visual effects (VFX) market.

• North America is estimated to contribute 39% to the growth of the global market during the forecast period. Factors such as the increased demand for high-quality content, the acquisition of movies by streaming platforms, and the growth of the gaming industry are fostering the regional market growth.

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Global Visual Effects (VFX) Market – Market Dynamics

Leading Drivers –

• The market is driven by the increasing demand for high-quality content.

• The rising popularity of OTT platforms among consumers has increased the demand for rich content.

• This is encouraging content creators to adopt the latest technologies, such as VR and 360-degree and light-field capture, which use VFX.

• In addition, the increasing production of films and rising investments in VFX by studios to develop feature-rich high-quality content are driving the growth of the global visual effects market.

Key Trends –

• The use of AI in VFX rendering is one of the major trends in the market.

• The use of AI enables the processing of VFX shots in real-time, thereby creating an opportunity for the automation of VFX models.

• This eliminates the need for texturing, lighting, and rendering. It also fastens the production process and reduces operational costs.

• Also, the use of AI to generate VFX characters results in reduced post-production costs.

• This trend is expected to positively influence the growth of the global visual effects market during the forecast period.

Major challenges –

• The shortage of skilled professionals is one of the key challenges in the market.

• The market is currently facing a shortage of skilled VFX professionals such as supervisors, FX artists, creature artists, and animators.

• Besides, a considerable proportion of the workforce in VFX firms lacks technical skills and creative abilities in handling VFX technologies.

• Moreover, professionals with the desired qualifications, work experience, and skillsets demand high salary packages. As a result, VFX studios and post-production companies are unable to afford suitable artists for jobs.

• Many such challenges are reducing the growth potential in the market.

Driver, Trend, and Challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this visual effects (VFX) market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the visual effects (VFX) market between 2023 and 2027

• Precise estimation of the size of the visual effects (VFX) market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the visual effects (VFX) market industry across North AmericaAPAC, Europe, Middle East and Africaand South-America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of visual effects (VFX) market vendors

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• Tea post-production market size is predicted to surge by USD 20.75 trillion from 2021 to 2026 at an accelerating CAGR of 12.72%. The success of movies and TV shows due to the high use of animation is notably driving the post-production market growth, although factors such as high cost of technologies used in post-production may impede the market growth.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Force Analysis

6 Market Segmentation by Application

7 Market Segmentation by Component

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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