NEW YORK, March 10, 2021 /PRNewswire/ -- The visual effects (VFX) market is expected to grow by USD 2.51 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the visual effects (VFX) market in optimistic, probable, and pessimistic forecast scenarios. Enterprises will go through the Response, Recovery, and Renew phases.
The visual effects (VFX) market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase as compared to 2019. Download a FREE Sample Report
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
Adjust their strategic planning to move ahead once business stability kicks in.
Build Resilience by making effective resource and investment choicesfor individual business units, products, and service lines.
Conceptualize scenario-based planning to mitigate future crisis situations.
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Major Three Visual Effects (VFX) Market Participants:
Deluxe Entertainment Services Group Inc.
Deluxe Entertainment Services Group Inc. operates its business through segments such as Creative, Distribution, Technologies, and Deluxe One. The company offers Method Studios. The solution offers services including conceptual design, pre-vis, look development, on-set supervision, 3D animation/CGI, motion graphics, matte painting, compositing, and finishing.
Digital Domain Holdings Ltd.
Digital Domain Holdings Ltd. operates its business through the Unified segment. The company offers VFX services to film and television production studios.
Digital Idea Corp.
Digital Idea Corp. operates its business through segments such as VFX and New Media. The company offers Visual effects studio solution that can be used by various companies for visual effects.
Visual effects (VFX) market is segmented as below:
The visual effects (VFX) market is driven by increasing demand for high-quality content. In addition, other factors such as the increasing number of acquisitions and partnerships are expected to trigger the visual effects (VFX) market toward witnessing a CAGR of about 6% during the forecast period.
About Us 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 17,000 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.