This report was recently updated on April 18 2024 with the latest and most recent
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Global Virtual Production Market Size, Trends, and Analysis - Forecast to 2026 By Component (Hardware, Software, Services) By Type (Pre-production, Production, Post-production), By End-User (Movies, TV Series, Commercial Ads, Online Videos, Others), By Region (North America, Europe, Asia Pacific, MEA, and CSA), End-User Landscape, Company Market Share Analysis & Competitor Analysis
Virtual Production is a method that exquisitely combines real-life live-action footage with computerized graphic footage. The growing innovations in productive technologies are giving rise to the concepts of virtual production. Unlike the conventional method of filmmaking, virtual production enables the filmmakers to push their creative boundaries, explore significantly more, and deliver the best experiences for the viewers. The Virtual Production method utilizes the LED volume to deliver three-dimensional virtual environments, which makes it easy for the creators to capture the actual objects and footage in such a way that makes it extremely difficult to notice or distinguish the virtual environment from real-life sets.
The film and entertainment industry has also been one of the biggest attractions among the viewers. Filmmakers across the world have developed and have broadened the limits of creative ideas and innovation to many great extents. The conventional black and white films still have their roots in the film-making industries and are considered the classics. However, today with such advanced technological transformations, nothing is considered impossible. From science fiction to creative dramas, thriller, horror, and many other genres have undergone expansions. Virtual Production has made it easy for the producers and creators to play more with the virtual effects and three-dimensional virtual environments.
Besides creating a new space for the filmmakers to explore, Virtual Production is preferred the most today because of its cost-saving and cost-effective nature. The fact that any regular studio can be converted into a desired location or background by creating a virtual environment and virtual effect using the virtual production has enabled many filmmakers and scriptwriters to utilize the opportunity created. Virtual production also reduces the cost and time on investing in lighting, uncertain weather conditions, traveling, or any other external factors that create obstacles in filmmaking, as everything can be carried out under a controlled environment in an indoor setting. It also enables the content writers to customize the sets as per their storylines and add as many details as required. The Virtual Production thus increases the efficiency of the overall film project and appeals to many viewers. From Marvel Studios to the Game of Thrones, many movies and television series, and others, Disney and Pixar have created some legendary blockbusters using virtual productions that have surpassed tremendous boundaries in all senses and have gained extreme appreciation.
In today’s COVID-19 pandemic period, the only aspect that has enabled filmmakers to continue producing films and other content is the virtual production method. The covid-19 period has witnessed a surge in the usage of virtual production and is also expected to experience exponential growth in the forecasted period.
The software segment has its dominance in the virtual production market. The virtual production market is highly technologically driven and dependent on advanced methods that work more efficiently when operated under software rather than hardware. The cloud-based management systems and other virtual effects and virtually created environments work smoothly using various software. The various features and properties that can be added through these features to the final result enable the producers and writers to explore new options and show their creativity. By the time, innovators and designers have designed various VFX and other software that are now frequently used in virtual effects and virtual production market. These also enable the digital creators to use 3D displays, which are of extensive use in designing computer games like call of duty or also in other movies like Iron man from the marvel series.
Followed by the software segment, popular motion picture creators utilize hardware in creative various tv series or movies under the virtual production market. The hardware segment is also expected to witness considerable growth in the forecasted period.
The post-production phase of any film, tv series or game-making is where the virtual production methods are utilized the most. Comparatively, in any entertainment industry, the post-production part requires the most of the time, as it incorporates the crucial parts of editing, effects, adding VFX, virtual effects, and other requisites in production of a final cut of the movie, tv series, or a game than in any other phase of the whole process. Many huge budget studios like Marvel, DC, Disney, Pixar, and many other studios and production companies invest millions of dollars in the post-production phase of the overall process. These studios, extensively dependent on virtual effects and virtual environments, use virtual production methods the most. Today, with the emergence of such big OTT platforms, the requirement of virtual production in the post-production phase of any movie or tv series is extensively increasing.
Movies are the most prominent end-users of virtual production. Since the last decade, the production companies in the filmmaking industries have quickly adapted themselves to the advancing technology and various components like three-dimensional displaying virtual effects, LED screening, virtual backgrounds, green backdrops, and many other advancements. In many big production companies and studios in the industry like Hollywood, as well as in various country and regional entertainment industries, virtual production is being distinctively used in movie productions. The expansion of movies in numerous genres has also created a powerful platform for moviemakers to utilize virtual production to create a viewers base. Today, virtual production is considered the new era of the filmmaking industry.
North America is the dominant region in the virtual production market. Surveys and studies have reported that the share of the North American region in this market as of 2020 is valued to be the highest as compared to the rest of the world. North America is home to the world’s biggest production companies and studios like Marvel, DC, and Disney, who have created record-breaking hits using advanced virtual production methods in their filmmaking.
Asia Pacific region is also expected to witness fast growth during the forecasted period. Big entertainment industries in the countries of the Asia Pacific regions like Bollywood, K-Pop, and many other big-budget production studies across the region have been extensively using virtual production methods in their filmmaking processes. The increasing demand and fan base of these Asian entertainment industries are compelling movie creators to explore various genres and expand their creativity. Also, countries like India, China, Japan, South Korea, Australia have been significant contributors to the emerging OTT platforms in the APAC region, thus accelerating the usage of virtual production. Many international studios like Disney have been funding and investing in the creative content generated by these regions and are promoting and boosting the usage of virtual production methods in the APAC region.
Technicolor, NVIDIA Corporation, Pixar (The Walt Disney Company), 360Rize, HTC Corporation (VivePort), Arashi Vision Inc. (Insta 360), Autodesk Inc., Epic Games, Inc., Mo-Sys Engineering Ltd., Side Effects Software Inc (SideFX), Adobe, HumanEyes Technologies, BORIS FX, Inc., Panocam3d.com, and Vicon Motion Systems Ltd are some of the most prominent industry players in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2021, Technicolor Connected Home recently announced the deployment of over 10 million Android TV set-top boxes (STBs), marking a new landmark.
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The Global Virtual Production Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Virtual Production Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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