North America Visual Effects (VFX) Market Report and Forecast 2024-2032

North America Visual Effects Market Size

The North America visual effects (VFX) market was approximately USD 15.80 billion in 2023. The market is estimated to grow at a CAGR of 12.7% during 2024-2032 to reach a value of USD 46.16 billion by 2032.

Key Trends in the Market

Visual effects, also known as VFX is a method of combining a self-created image or any moving media that does not exist in real life with live action footage. The manipulated imagery is used to create environments that are either too dangerous to shoot in real-life or do not physically exist. There are three types of visual effects commonly used in the North America visual effects (VFX) market including CGI, compositing, and motion capture. The VFX companies provide with various design to the customers thus helping the film industry to create unrealistic movements.

• Increase in demand for high quality video in filmmaking has surged the growth of the visual effect market. Directors are aiming at including innovative shots which are impossible to shoot in real life because of risk factors. This attracts audiences and thus helps in the surge of the North America visual effects market. Filmmakers are adopting VFX to tell their stories vividly and creatively.

• Adoption of advanced technologies by creators is another key trend that is helping in the surge of the North America visual effects market. The use of cloud services to create content has helped in the production of high-quality scripted media thereby increasing the visual effects and animation requirements. These tools help creators to be quick, efficient, and productive to create more captivating effects than before.

• The pandemic encouraged consumers to view shows through OTT platforms as a trending entertainment platform which helped in the growth of the viewership especially for animations for children. Accordingly, the animation industry increased the launch of new shows ultimately helping in the advancement of the VFX industry. The popularity of OTT is a major trend and helping in the upsurge of the North America visual effects market and animation market.

• Improvements in VFX technology are making it difficult for the employees to keep up. The skillset required needs to be updated and courses in the market do not update their content time to time, creating a shortage of skilled individuals with relevant qualifications and requirements as the technology advances day to day. Challenges in keeping up with technology are affecting the North America visual effects market negatively.

North America Visual Effects Market Report Snapshots

North America Visual Effects Market Size

North America Visual Effects Market Share

North America Visual Effects Market Analysis

North America Visual Effects Companies