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The global visual effects (VFX) market was approximately USD 35.59 Billion in 2024. The market is estimated to grow at a CAGR of 12.90% during 2025-2034 to reach a value of USD 119.75 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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VFX empower the creation of realistic and interactive videos and live-action footage. In 2022, the global OTT video revenue was estimated to be USD 116.5 billion and it is estimated to reach USD 174.6 billion by 2027.
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As per the visual effects (VFX) market analysis, in 2023, there were 3.22 billion video game players globally, a 4.21% growth compared to 2022. The growing gaming sector supports the visual effects (VFX) market development.
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VFX is undergoing a significant transformation with the adoption of real-time rendering techniques. This shift is fueled by advancements in powerful technologies like ray tracing and enhanced GPU capabilities.
Visual Effects (VFX) Market Regional Analysis
North America is one of the key regional markets for visual effects (VFX). The growth of streaming as a form of content consumption across North America aids the demand for high-quality film and television productions. Currently, Canada has around 100 VFX studios. Vancouver and Toronto are hubs for several animation and VFX service providers. In 2023, the average movie production budget of the USA, the top movie-producing country globally, was around USD 95 million. The country produced 1,282 movies in 2023.
The gaming market in Europe is a significant contributor to the expansion of visual effects (VFX) market. In 2022, consumers spent around EUR 24.5 billion on video games across various European markets, an increase of around 5% compared to both 2021 and 2020.
With the Asia Pacific, India and China are significant VFX revenue-generating markets. The affordable data costs in these countries are a primary factor behind expanding their telecom internet user base, which drives the demand for digital entertainment, including online videos, audio streaming, and gaming.
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 2024.
The market is projected to grow at a CAGR of 12.90% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 119.75 Billion by 2034.
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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