Global Visual Effects Market is valued approximately at USD 0.63 million in 2019 and is anticipated to grow with a healthy growth rate of more than 12.7 % over the forecast period 2020-2027. Visual effects or VFX is a special effect which is applied to a film or video that cannot be achieved during live action shooting. Usually, they’re used to create real-looking worlds, artefacts, animals and creatures. In TV shows, gaming, movies and commercials, these visual effects are commonly used. They are an especially important part of making films as they help to create effects that attract the audience. Simulation FX, motion capture, 3D scanning, concept art, matte painting and others are some of the various forms of visual effects. The factor driving the growth of this market is the growing number of streaming video viewers, growing demand for VFX in the media and entertainment field.
However, high investment cost is expected to inhibit the market growth. Whereas, technological advancement in VFX is expected to create significant growth opportunity in the market over the forecast period. The key players of global Visual Effects market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, Adobe revealed in January 2019 that they had acquired Allegorithmic in order to add the technology of Allegorithmic to their various Innovative Cloud software. This will allow the business to manufacture multiple game products and will also encourage them to use emerging technology to provide their customers with better services. Deluxe Entertainment Services Group Inc. reported in July 2018 that it has acquired Atomic Fiction in order to develop fresh and demanding VFX ventures for episodics, labels, ads and features. This acquisition would help both businesses extend their VFX sequences and provide consumers with the best services.
The regional analysis of global Visual Effects market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to due to the increasing use of VFX in Hollywood movies. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing internet penetration and access to multimedia devices, customers are spending more time streaming digital content would create lucrative growth prospects for the Visual Effects market across Asia-Pacific region.
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Major market player included in this report are:
Blackmagic Design Pty. Ltd.
The Foundry Visionmongers
RE:Vision Effects, Inc.
Video Copilot and Final Image Inc.
Red Giant LLC.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Matte Painting, Simulation FX
Compositing, Motion Capture
3D Scanning, Character and Creature Animation
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
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Target Audience of the Global Visual Effects Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers