Visual effects or abbreviated as VFX, is a process of integrating live-action footage and generating imagery in order to create a real-life like environment that looks realistic. Visual Effects (VFX) makes it possible to craft a scene or build the effect that could not be created with regular photographic techniques. Additionally, it also involves merging of original film shots with false or animated ones, thereby recreating the entire shot. It also helps in making scenes that are difficult to create during live action shooting. Due to higher adoption of technology, movie and media industries are gradually shifting to VFX industry. Also, Visual Effects (VFX) software solutions is cost effective since it saves on high infrastructure and other scene creation expenses.
Globally, the Visual Effects (VFX) market is expected to reach around USD 19,985.64 million by 2024 from USD 8,611.79 million in 2017, growing at a CAGR of approximately 12.78% for the forecast period from 2019 to 2024. Advanced technology adoption has increased the acceptance of Visual Effects (VFX) in the big-budget films as well as regional movies. With cinema & television, video games, and marketing embracing technology in order to widen their reach, has driven the growth in Visual Effects (VFX) market. Rising demand for Visual Effects (VFX) in media and entertainment industry coupled with the adoption of VFX techniques for cost compensation by investors are the key driving factors of the global VFX market. Another key feature of project mapping is the latest prime technique that is boosting the growth of this market across the world.
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The growing popularity of the Visual Effects (VFX) market has also led to the demand for rich content across digital video content platforms. Gaining popularity of AI has led to automated camera tracking, motion capturing, simulation, character animation, and image processing in Visual Effects (VFX). Higher adoption and integration of AI in Visual Effects (VFX) will also have a positive impact on the growth of this market during the assessment period.
Key Players : Visual Effects (VFX) Industry
Cinesite VFX Ltd.
Digital Domain Holdings Ltd.
Rodeo FX, Inc.
The Walt Disney Co.
The Visual Effects (VFX) global market is broadly segmented by Type and Application.
The market by Type is split into Simulation FX, Animation, Modelling, Matte Painting and Composting.
The market by Application is further split into Movies, Television, Gaming and Advertisements.
Some of the key players in the Visual Effects (VFX) market include Cinesite VFX Ltd.; Digital Domain Holdings Ltd.; Rodeo FX, Inc.; The Walt Disney Co. and Framestore Ltd.
To understand the global dynamics of the Visual Effects (VFX) market, the regional segmentation spans across Americas (US, Canada, Mexico, Brazil); APAC (China, Japan, Korea, Southeast Asia, India, Australia); Europe (Germany, France, UK, Italy, Russia and Spain); Middle East and Africa (Egypt, South Africa, Israel, Turkey, GCC countries).
North America led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. The North American region is expected to maintain its dominance over the global market during the forecast period. Growing demand for post-production services in the movie and television industry is one of the reasons behind the growth.
In the age of modern television and an explosion of platforms such as Amazon Prime Video to Hulu to Netflix, the need for content has mushroomed along with visual effects of all kinds. Visual Effects (VFX) companies are exploring new technologies from virtual reality to 360-degree experiences and light-field capture, all of which require the skill and knowledge base of the visual effects industry.
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Table of Contents
1 Scope of the Report
2 Executive Summary
3 Global Visual Effects (VFX) by Players
4 Visual Effects (VFX) by Regions
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Visual Effects (VFX) Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion
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