Global Visual Effects(VFX) Market Size by Industrial analysis Forecast 2019-2023

Posted by sarahbennu on July 22nd, 2019

The global visual effects market is expected to post a CAGR of nearly 9% during the forecast period 2019-2023, according to the latest market research report by Technavio.

The integration of AI in VFX is one of the key trends influencing the market’s growth. Adoption of AI automates camera tracking, motion capturing, simulation, character animation, and image processing areas in VFX. The entertainment industry is increasingly adopting AI to develop computer graphic characters by placing several radium colored dots on the actor’s face that is captured by vertically arranged HD cameras. The AI algorithms help develop high-resolution face-scans with required expression based on the inputs from the HD cameras. The use of AI to generate VFX characters fastens the production process and reduces the overall operational costs.

As per Technavio, the increasing demand for high-quality content will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global visual effects (VFX) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global visual effects market: Increasing demand for high-quality content

The growing popularity of digital video content platforms has increased the demand for rich content and VFX of all kinds. This has encouraged leading video streaming service providers to adopt the latest technologies such as VR and 360-degree and light-field capture, that use VFX. Certain video streaming service providers are creating content exclusively for their viewers. The increase in the production of such content has compelled production studios to adopt VFX in their films and television series. The increased adoption of smartphones, tablets, laptops, and smart televisions have fueled the growth of the digital video streaming services industry. These factors are expected to drive the growth of the global VFX market over the forecast period.

“North America provides a large number of growth opportunities for VFX companies. The increasing investments in the production of high-budget films have fueled the demand for VFX in the region. Additionally, the high adoption rates of smart TVs that support 4K content has further enhanced the growth of the VFX market in North America. In APAC, the increasing penetration of the internet and the rising number of smartphones has increased the demand for VFX content. This is encouraging filmmakers and content creators in the region to create more movies and series with extensive use of VFX”, says an analyst at Technavio.

Global visual effects market: Segmentation analysis

This market report segments the global visual effects market by application (movies, television, gaming, and advertisements) and geography (APAC, Europe, MEA, North America, and South America).

North America led the market in 2018 with a market share of more than 35%, followed by APAC, Europe, MEA, and South America. The dominance of North America can be attributed to the growing demand for post-production services in the movie and television industry.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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