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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Visual Effects (VFX) Market Trends
The major factors driving the market are the growing demand for high quality content and the growth of Over-The-Top (OTT) channels. The development of virtual reality (VR) and augmented reality (AR) experiences, as well as the current rollout of 5G networks, will further improve streaming and create new opportunities for the visual effects (VFX) market.
With the incorporation of artificial intelligence and machine learning, VFX artists capture and analyse real-world movements and behaviours. Artificial Intelligence is transforming the landscape of the) market, leading to advancements in the creation of lifelike 3D models and streamlining production processes.
VFX plays an important role in the video game market by providing an immersive experience to gamers. China and the USA are the biggest video games markets. Mobile gaming accounts for approximately 70 per cent of the total revenue generated by video games, globally.
Growth of the video streaming sector and need for high-quality content
In 2022, the global OTT sector incurred revenue of USD 116.5 billion. Video streaming players such as Netflix, Amazon Prime Video, Hulu, and Disney+ are offering intriguing series and movies that aid the applications of VFX and further boost the visual effects (VFX) market value.
Incorporation of Artificial Intelligence (AI) and Machine Learning (ML)
With the incorporation of these technologies, visual effects artists can analyse and recognise scene aspects, including objects, textures, and lighting. In addition, AI algorithms can be employed to produce high-quality graphics.
Growing application of VFX in video games
VFX in video games employs a variety of techniques and technologies to generate realistic simulations of diverse aspects including lighting, textures, particles, and physics. In 2022, U.S. and Chinese consumer spending on video games was USD 90.4 billion.
Expanding advertising sector
In the advertising sector, VFX enables businesses to create eye-catching and immersive representations. This helps brands grab consumer attention and create a unique brand image, which aids visual effects (VFX) market development.
Visual Effects (VFX) Market Report Snapshots
Visual Effects (VFX) Market Size
Visual Effects (VFX) Market Trends
Visual Effects (VFX) Market Growth
Visual Effects (VFX) Market Share
Visual Effects (VFX) Market Regional Analysis
Visual Effects (VFX) Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 35.59 billion in 2023.
The market is projected to grow at a CAGR of 12.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 106.04 billion by 2032.
The key trends guiding the growth of the visual effects (VFX) market are the rising incorporation of technologies such as AI, the expansion of the gaming and video streaming sectors, and the growing advertisement production sector.
The key regional markets for visual effects (VFX) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The production methods include modelling, and matte painting, among others.
VFX is used in movies, television, gaming, and advertisements, among others.
The key players in the market include The Foundry Visionmongers Ltd, Blender Foundation, Autodesk, Inc., Side Effects Software Inc., Cinesite, Digital Domain, Framestore Limited, Rodeo FX, Inc., RISE FX GmbH, Animal Logic Group, The Walt Disney Company, Warner Bros. Entertainment Inc., BluBlu Studios, and Red Chillies Entertainments, among others.
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