The global virtual production market size is expected to reach USD 6.65 billion by 2030 according to a new study by Polaris Market Research. The report “Virtual Production Market Size, Share & Trends Analysis Report, By Type (Pre-production, Production, Post-production); By Component (Hardware, Software, Services); By End-Use; By Region, And Segment Forecasts, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Virtual production is the use and integration of technology, including visual effects (VFX), across the entire creation process. Filmmakers may now create effects and environments using game engines like Unreal Engine since a significant part of the study and development for this technology came from the gaming industry.
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Furthermore, with the assistance of powerful graphics cards, camera tracking, virtual and augmented reality, and other technological advancements, people now have the means to seamlessly blend the digital and real worlds. This is anticipated to stimulate the growth of the industry.
The media and entertainment sector is implementing virtual creation more extensively as a result of the growing acceptance of LED video wall technology. Filmmakers can capture visual effects in real time owing to the LED video wall's background presentation of computer-generated graphics. With the use of LED video wall screens, a genuine filming location can be replaced with a realistic background visual, minimizing the crew's time and cost of travel.
North America dominated the market in 2021 and is expected to account for the largest revenue share over the forecast period. Factors such as technological advancement, growing popularity of Over-The-Top (OTT) platforms, rising demand for live video streaming, and the increase of on-demand content are contributing to the increased demand for the industry.
Major participants such as Nvidia Corporation, Autodesk, Inc., Dimension, HTC Corporation, DNEG, Epic Games, Adobe Inc., Mo-Sys Engineering Ltd., Perforce Software, Inc., Sidefx, Sony Group, Technicolor, The Walt Disney Company, Tiltlabs, Vicon Motion Systems Ltd, and Virsabi are some of the key players operating in the global industry.
Virtual Production Market Report Highlights
Polaris Market Research has segmented the virtual production market report on the basis of type, component, end-use and region:
Virtual Production, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Virtual Production, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Virtual Production, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Virtual Production, Regional Outlook (Revenue - USD Billion, 2018 - 2030)