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

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.

Technavio has announced its latest market research report titled Global Visual Effects (VFX) Market 2023-2027

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 of 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 (NorthAmericaAPAC, Europe, Middle East other Africaand 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 NorthAmericaAPAC, Europe, Middle East other Africaand South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global visual effects (VFX) market.

  • NorthAmerica 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) MarketMarket 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 NorthAmericaAPAC, Europe, Middle East other Africaand 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.

Visual Effects (VFX) Market Scope

report coverage

details

Page number

169

base year

2022

Historical period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 13.71%

Market growth 2023-2027

USD 8898.82 million

Market structure

fragmented

YoY growth 2022-2023 (%)

12.76

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 39%

Key countries

US, Canada, India, China, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Table of contents:

1 executive summary

2 Market Landscape

3 Market Sizing

4 historic market size

5 Five Forces Analysis

6 Market segmentation by application

7 Market Segmentation by Component

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Visual Effects (VFX) Market 2023-2027

Global Visual Effects (VFX) Market 2023-2027

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