Visual Effects (VFX) Market Recorded 8.42% Y-O-Y Growth Rate in 2020, Trends, Market Dynamics, Segmentation & Vendor Landscape - Technavio
NEW YORK, July 19, 2022 /PRNewswire/ -- The visual effects (VFX) market is expected to grow by USD 4.28 billion, progressing at a CAGR of 8.99% as per the latest market report by Technavio. The use of AI in VFX is the major trend driving the visual effects market growth. AI is used in VFX rendering to improve the production of character-based VFX shots. AI provides automation in camera tracking, motion capturing, simulation, rendering, character animation, and image processing, the areas that use VFX. AI is primarily used in the post-production process for VFX rendering to minimize the use of human resources. The use of AI in VFX can change the VFX production pipeline and shift the process of on-set graphic systems to real-time from post-production to pre-production. The processing of VFX shots in real-time also offers opportunities for the automation of VFX models, eliminating the need for texturing, lighting, and rendering. AI is used to develop computer graphic characters by placing hundreds of radium-colored dots on a person's face, capturing by vertically aligned HD cameras. HD cameras scan the low-quality render of the face for processing using AI algorithms and a library of high-resolution face scans, with a wide variety of expressions. AI uses an algorithm for processing low-resolution scans and processes out high-resolution face scans with the required expression.
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- Drivers: The increasing demand for high-quality content, real-time rendering in VFX production & increasing number of acquisitions and partnerships is one of the major factors propelling the market growth.
- Challenges: The factors such as Storage issues associated with VFX rendering, high investments, and low-profit margins & shortage of skilled personnel will hamper the market growth.
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Application Landscape
- The visual effects market share growth in the movies segment will be significant for revenue generation. The movie segment is driven by the rising demand for realistic movie experiences by audiences and the growing popularity of VFX-based films. The use of VFX in the filmmaking process has led to new entertainment experiences with VR and 3D films. Film production studios use real-time rendering VFX for making VR films and presenting fictional stories, storytelling, and depicting content-rich visuals.
Geography Landscape
- 42% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for visual effects in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America. The overall increase in the consumption of high-quality content and the launch of film production studios will facilitate the visual effects market growth in North America over the forecast period
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The VFX market is fragmented and the vendors are focusing on M&A and entering into partnerships with other players to compete in the market.
- Deluxe Entertainment Services Group Inc.
- Digital Domain Holdings Ltd.
- Digital Idea Corp.
- Eastman Kodak Co.
- Framestore Ltd.
- Hydraulx VFX Ltd.
- Rodeo FX Inc.
- Sony Corp.
- Technicolor SA
- The Walt Disney Co.
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Visual Effects (VFX) Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2019 |
Forecast period | 2020-2024 |
Growth momentum & CAGR | Accelerate at a CAGR of 8.99% |
Market growth 2020-2024 | USD 4.28 billion |
Market structure | Fragmented |
YoY growth (%) | 8.42 |
Regional analysis | North America, APAC, Europe, and South America |
Performing market contribution | North America at 42% |
Key consumer countries | US, Canada, China, India, and France |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Deluxe Entertainment Services Group Inc., Digital Domain Holdings Ltd., Digital Idea Corp., Eastman Kodak Co., Framestore Ltd., Hydraulx VFX Ltd., Rodeo FX Inc., Sony Corp., Technicolor SA, and The Walt Disney Co. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Movies and Entertainment
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application - Market share 2020-2025 (%)
- 5.2 Comparison by Application
- Exhibit 16: Comparison by Application
- 5.3 Movies - Market size and forecast 2020-2025
- Exhibit 17: Movies - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Movies - Year-over-year growth 2020-2025 (%)
- 5.4 Television - Market size and forecast 2020-2025
- Exhibit 19: Television - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Television - Year-over-year growth 2020-2025 (%)
- 5.5 Gaming - Market size and forecast 2020-2025
- Exhibit 21: Gaming - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Gaming - Year-over-year growth 2020-2025 (%)
- 5.6 Advertisements - Market size and forecast 2020-2025
- Exhibit 23: Advertisements - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Advertisements - Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by Application
- Exhibit 25: Market opportunity by Application
6 Customer landscape
- 6.1 Overview
- Exhibit 26: Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 27: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 28: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 Europe - Market size and forecast 2020-2025
- Exhibit 33: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
- 7.6 MEA - Market size and forecast 2020-2025
- Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
- 7.7 South America - Market size and forecast 2020-2025
- Exhibit 37: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 39: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 40: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 41: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 42: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 43: Landscape disruption
- Exhibit 44: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 45: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 46: Market positioning of vendors
- 10.3 Deluxe Entertainment Services Group Inc.
- Exhibit 47: Deluxe Entertainment Services Group Inc. - Overview
- Exhibit 48: Deluxe Entertainment Services Group Inc. - Product and service
- Exhibit 49: Deluxe Entertainment Services Group Inc. - Key offerings
- 10.4 Digital Domain Holdings Ltd.
- Exhibit 50: Digital Domain Holdings Ltd. - Overview
- Exhibit 51: Digital Domain Holdings Ltd. - Business segments
- Exhibit 52: Digital Domain Holdings Ltd. - Key offerings
- 10.5 Digital Idea Corp.
- Exhibit 53: Digital Idea Corp. - Overview
- Exhibit 54: Digital Idea Corp. - Product and service
- Exhibit 55: Digital Idea Corp. - Key offerings
- 10.6 Eastman Kodak Co.
- Exhibit 56: Eastman Kodak Co. - Overview
- Exhibit 57: Eastman Kodak Co. - Business segments
- Exhibit 58: Eastman Kodak Co. - Key News
- Exhibit 59: Eastman Kodak Co. - Key offerings
- Exhibit 60: Eastman Kodak Co. - Segment focus
- 10.7 Framestore Ltd.
- Exhibit 61: Framestore Ltd. - Overview
- Exhibit 62: Framestore Ltd. - Product and service
- Exhibit 63: Framestore Ltd. - Key offerings
- 10.8 Hydraulx VFX Ltd.
- Exhibit 64: Hydraulx VFX Ltd. - Overview
- Exhibit 65: Hydraulx VFX Ltd. - Product and service
- Exhibit 66: Hydraulx VFX Ltd. - Key offerings
- 10.9 Rodeo FX Inc.
- Exhibit 67: Rodeo FX Inc. - Overview
- Exhibit 68: Rodeo FX Inc. - Product and service
- Exhibit 69: Rodeo FX Inc. - Key offerings
- 10.10 Sony Corp.
- Exhibit 70: Sony Corp. - Overview
- Exhibit 71: Sony Corp. - Business segments
- Exhibit 72: Sony Corp. - Key News
- Exhibit 73: Sony Corp. - Key offerings
- Exhibit 74: Sony Corp. - Segment focus
- 10.11 Technicolor SA
- Exhibit 75: Technicolor SA - Overview
- Exhibit 76: Technicolor SA - Business segments
- Exhibit 77: Technicolor SA - Key offerings
- Exhibit 78: Technicolor SA - Segment focus
- 10.12 The Walt Disney Co.
- Exhibit 79: The Walt Disney Co. - Overview
- Exhibit 80: The Walt Disney Co. - Business segments
- Exhibit 81: The Walt Disney Co. - Key News
- Exhibit 82: The Walt Disney Co. - Key offerings
- Exhibit 83: The Walt Disney Co. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 84: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 85: Research Methodology
- Exhibit 86: Validation techniques employed for market sizing
- Exhibit 87: Information sources
- 11.4 List of abbreviations
- Exhibit 88: List of abbreviations
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