Visual effects (VFX) market size to grow by USD 8,898.82 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- Technavio categorizes the global visual effects (VFX) market as a part of the global movies and entertainment market, which covers companies offering products, services, and solutions in advertising, broadcasting, cable and satellite, publishing, movies and entertainment, interactive home entertainment, and interactive media and services.

The global visual effects (VFX) market size is estimated to increase by USD 8,898.82 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 13.71% during the forecast period.

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Visual effects (VFX) market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• Get detailed insights into this market study. Buy the report!

Visual effects (VFX) market – Vendor Analysis
Vendor Landscape - The global visual effects (VFX) market is fragmented due to the presence of several global and regional vendors. Global vendors have a strong foothold in the market. They are continuously strengthening their customer base by enhancing their product offerings and expanding their geographic reach. Also, they are focusing on M&A and entering into partnerships with other players to expand their product portfolio, enter emerging markets, and boost their market shares. All these factors are expected to increase the competition in the market during the forecast period.

Some of the prominent vendors in the market include Animal Logic Pty Ltd., Deluxe Media Inc., Digital Domain Holdings Ltd., Digital Idea Corp., Double Negative Ltd., Flatworld Solutions Pvt. Ltd., Framestore Ltd, Hydraulx VFX Ltd, Ingenuity Studios Inc., Makuta Effects Pvt. Ltd., Rodeo FX Inc., Scanline VFX, Sony Group Corp., Spin VFX, Technicolor SA, The Walt Disney Co., Tippett Studio Inc., and Weta Digital Ltd. and others.

Vendor Offerings -

• Deluxe Media Inc. - The company offers visual effects for content creators, broadcasters, and streaming platforms.
• Digital Domain Holdings Ltd. - The company offers visual effects such as virtual, mixed, and augmented realities.
• Digital Idea Corp. - The company offers visual effects for the Korean entertainment industry.
• Double Negative Ltd. - The company offers visual effects for films and episodic visuals.

Visual effects (VFX) market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (movies, television, gaming, and advertisements), component (software, services, and hardware), and geography (North America, APAC, Europe, Middle East and Africa, and South America). 

• By application, the market growth will be significant in the movies segment during the forecast period. The increased use of VFX in movie production and the rising demand for realistic movie experiences by audiences are driving the growth of the segment.

Geography Overview
By geography, the global visual effects (VFX) market is segmented into North America, APAC, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global visual effects (VFX) market.

• North America is estimated to contribute 39% to the growth of the global market during the forecast period. Factors such as the increased demand for high-quality content, the acquisition of movies by streaming platforms, and the growth of the gaming industry are fostering the regional market growth.

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Global Visual Effects (VFX) Market – Market Dynamics

Leading Drivers – 

• The market is driven by the increasing demand for high-quality content.
• The rising popularity of OTT platforms among consumers has increased the demand for rich content.
• This is encouraging content creators to adopt the latest technologies, such as VR and 360-degree and light-field capture, which use VFX.
• In addition, the increasing production of films and rising investments in VFX by studios to develop feature-rich high-quality content are driving the growth of the global visual effects market.

Key Trends – 

• The use of AI in VFX rendering is one of the major trends in the market.
• The use of AI enables the processing of VFX shots in real-time, thereby creating an opportunity for the automation of VFX models.
• This eliminates the need for texturing, lighting, and rendering. It also fastens the production process and reduces operational costs.
• Also, the use of AI to generate VFX characters results in reduced post-production costs.
• This trend is expected to positively influence the growth of the global visual effects market during the forecast period.

Major challenges – 

• The shortage of skilled professionals is one of the key challenges in the market.
• The market is currently facing a shortage of skilled VFX professionals such as supervisors, FX artists, creature artists, and animators.
• Besides, a considerable proportion of the workforce in VFX firms lacks technical skills and creative abilities in handling VFX technologies.
• Moreover, professionals with the desired qualifications, work experience, and skillsets demand high salary packages. As a result, VFX studios and post-production companies are unable to afford suitable artists for jobs.
• Many such challenges are reducing the growth potential in the market.

Driver, Trend, and Challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this visual effects (VFX) market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the visual effects (VFX) market between 2023 and 2027
• Precise estimation of the size of the visual effects (VFX) market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the visual effects (VFX) market industry across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of visual effects (VFX) market vendors

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Related Reports:

• The over-the-top (OTT) market is estimated to grow at a CAGR of 24.85% between 2022 and 2027. The size of the market is forecast to increase by USD 439.12 billion. The growing preference for cloud streaming services is notably driving the market growth, although factors such as the growing threat of cyberattacks may impede the market growth.
• The post-production market size is predicted to surge by USD 20.75 billion from 2021 to 2026 at an accelerating CAGR of 12.72%. The success of movies and TV shows due to the high use of animation is notably driving the post-production market growth, although factors such as high cost of technologies used in post-production may impede the market growth.

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global visual effects (VFX) market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global visual effects (VFX) market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Component Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Movies - Market size and forecast 2022-2027
• Exhibit 34: Chart on Movies - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Movies - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Movies - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Movies - Year-over-year growth 2022-2027 (%)

• 6.4 Television - Market size and forecast 2022-2027
• Exhibit 38: Chart on Television - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Television - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Television - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Television - Year-over-year growth 2022-2027 (%)

• 6.5 Gaming - Market size and forecast 2022-2027
• Exhibit 42: Chart on Gaming - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Gaming - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Gaming - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Gaming - Year-over-year growth 2022-2027 (%)

• 6.6 Advertisements - Market size and forecast 2022-2027
• Exhibit 46: Chart on Advertisements - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Advertisements - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Advertisements - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Advertisements - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 51: Chart on Component - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 53: Chart on Comparison by Component
• Exhibit 54: Data Table on Comparison by Component

• 7.3 Software - Market size and forecast 2022-2027
• Exhibit 55: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027
• Exhibit 59: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Hardware - Market size and forecast 2022-2027
• Exhibit 63: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Component 
• Exhibit 67: Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 India - Market size and forecast 2022-2027
• Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Animal Logic Pty Ltd. 
• Exhibit 120: Animal Logic Pty Ltd. - Overview
• Exhibit 121: Animal Logic Pty Ltd. - Product / Service
• Exhibit 122: Animal Logic Pty Ltd. - Key offerings

• 12.4 Deluxe Media Inc. 
• Exhibit 123: Deluxe Media Inc. - Overview
• Exhibit 124: Deluxe Media Inc. - Product / Service
• Exhibit 125: Deluxe Media Inc. - Key offerings

• 12.5 Digital Domain Holdings Ltd. 
• Exhibit 126: Digital Domain Holdings Ltd. - Overview
• Exhibit 127: Digital Domain Holdings Ltd. - Business segments
• Exhibit 128: Digital Domain Holdings Ltd. - Key offerings
• Exhibit 129: Digital Domain Holdings Ltd. - Segment focus

• 12.6 Digital Idea Corp. 
• Exhibit 130: Digital Idea Corp. - Overview
• Exhibit 131: Digital Idea Corp. - Product / Service
• Exhibit 132: Digital Idea Corp. - Key offerings

• 12.7 Double Negative Ltd. 
• Exhibit 133: Double Negative Ltd. - Overview
• Exhibit 134: Double Negative Ltd. - Product / Service
• Exhibit 135: Double Negative Ltd. - Key offerings

• 12.8 Flatworld Solutions Pvt. Ltd. 
• Exhibit 136: Flatworld Solutions Pvt. Ltd. - Overview
• Exhibit 137: Flatworld Solutions Pvt. Ltd. - Product / Service
• Exhibit 138: Flatworld Solutions Pvt. Ltd. - Key offerings

• 12.9 Framestore Ltd 
• Exhibit 139: Framestore Ltd - Overview
• Exhibit 140: Framestore Ltd - Product / Service
• Exhibit 141: Framestore Ltd - Key offerings

• 12.10 Hydraulx VFX Ltd 
• Exhibit 142: Hydraulx VFX Ltd - Overview
• Exhibit 143: Hydraulx VFX Ltd - Product / Service
• Exhibit 144: Hydraulx VFX Ltd - Key offerings

• 12.11 Ingenuity Studios Inc. 
• Exhibit 145: Ingenuity Studios Inc. - Overview
• Exhibit 146: Ingenuity Studios Inc. - Product / Service
• Exhibit 147: Ingenuity Studios Inc. - Key offerings

• 12.12 Makuta Effects Pvt. Ltd. 
• Exhibit 148: Makuta Effects Pvt. Ltd. - Overview
• Exhibit 149: Makuta Effects Pvt. Ltd. - Product / Service
• Exhibit 150: Makuta Effects Pvt. Ltd. - Key offerings

• 12.13 Rodeo FX Inc. 
• Exhibit 151: Rodeo FX Inc. - Overview
• Exhibit 152: Rodeo FX Inc. - Product / Service
• Exhibit 153: Rodeo FX Inc. - Key offerings

• 12.14 Scanline VFX 
• Exhibit 154: Scanline VFX - Overview
• Exhibit 155: Scanline VFX - Product / Service
• Exhibit 156: Scanline VFX - Key offerings

• 12.15 Sony Group Corp. 
• Exhibit 157: Sony Group Corp. - Overview
• Exhibit 158: Sony Group Corp. - Business segments
• Exhibit 159: Sony Group Corp. - Key news
• Exhibit 160: Sony Group Corp. - Key offerings
• Exhibit 161: Sony Group Corp. - Segment focus

• 12.16 Technicolor SA 
• Exhibit 162: Technicolor SA - Overview
• Exhibit 163: Technicolor SA - Business segments
• Exhibit 164: Technicolor SA - Key offerings
• Exhibit 165: Technicolor SA - Segment focus

• 12.17 The Walt Disney Co. 
• Exhibit 166: The Walt Disney Co. - Overview
• Exhibit 167: The Walt Disney Co. - Business segments
• Exhibit 168: The Walt Disney Co. - Key offerings
• Exhibit 169: The Walt Disney Co. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

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