Global Visual Effects market outlook 2024, Forecast To 2033
4 Mar, 2024
The visual effects market size has grown rapidly in recent years. It will grow from $10.73 billion in 2023 to$11.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to user experience expectations, budgets and investments, digital streaming platforms, talent and skill development, film and entertainment industry growth. The visual effects market size is expected to see rapid growth in the next few years. It will grow to $17.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to evolution of content consumption, growth of streaming platforms, augmented and virtual reality, globalization of media content, demand for realistic visuals. Major trends in the forecast period include blending practical and digital effects, sustainable production practices, personalization and customization, remote collaboration tools, user-generated VFX content, environmental and climate focus.
Global Visual Effects Market Key Driver
The visual effects market is on an upward trajectory, driven by the soaring demand for digital video streaming services worldwide. As digital video streaming services gain prominence, the need for high-quality visual effects in entertainment content escalates. Streaming giants like Netflix report a substantial surge in subscriber numbers, indicating a robust demand for digital entertainment. This surge in demand underscores the pivotal role of visual effects software in enhancing digital content, thus driving the growth of the visual effects market.
Get A Free Sample Of The Global Visual Effects Market ReportGlobal Visual Effects Market Segments
The global visual effects market covered in this report is segmented –
1) By Type: Matte Painting, Simulation FX, Compositing, Motion Capture, Character And Creature Animation, Concept Art, Previs Or Pre-visualization, Other Types
2) By Component: Software, Hardware, Services
3) By Application: Movies, Advertisements, TV Shows, Gaming
By Geography: The regions covered in the visual effects market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the visual effect market in 2023. The regions covered in the visual effects market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Visual Effects Industry Players
Digital Domain Holdings Limited, Rodeo FX Inc., Hydraulx Visual Effects Inc., Sony Pictures Entertainment Inc., Technicolor SA, Digital Idea Corp., Deluxe Media Inc., Blackmagic Design Pty. Ltd., Foundry Visionmongers Limited, Zoic Studios LLC, Animal Logic Pty Ltd., RE:Vision Effects Inc., Worldwide FX, Video Copilot and Final Image Inc., Framestore Group Limited, Deluxe Entertainment Services Group Inc., Eastman Kodak Company, Lucasfilm Ltd., BUF Compagnie, The Moving Picture Company Limited, Cinesite Visual Effects Studio Limited, ImageWorks Inc., Double Negative Visual Effects Limited, Scanline VFX Inc., Animal Logic, Silicon Graphics International Corp., Weta Digital Limited, The Mill Film, MPC Limited, Method Studios Inc., Pixomondo GmbH
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Visual Effects Market Overview
Visual effects refer to a process by which the creation or enhancement of film or video by using a computer during post-production. They are used to create environments or characters. They are applied to combine live-action footage and enhanced imagery.
Visual Effects Global Market Report 2023 provides data on the global visual effects market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The visual effects market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.