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Visual Effects market Report 2024
Visual Effects Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The visual effects market has experienced robust growth in recent years, expanding from $10.73 billion in 2023 to $11.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to user experience expectations, budgets and investments, digital streaming platforms, talent and skill development, film and entertainment industry growth.
What Is The Estimated Market Size Of The Global Visual Effects Market And Its Annual Growth Rate?
The visual effects market is projected to continue its strong growth, reaching $17.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to evolution of content consumption, growth of streaming platforms, augmented and virtual reality, globalization of media content, demand for realistic visuals.
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Growth Driver Of The Visual Effects Market
The increasing demand in gaming industry is expected to propel the growth of visual effects market going forward. The gaming industry refers to the collective activities, businesses, and enterprises involved in the creation, development, marketing, distribution, and monetization of video games. Visual effects in the gaming industry create a visually stunning, engaging, artistic vision, realism, authenticity, and memorable gaming experiences.
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Who Are The Key Players Shaping The Visual Effects Market Trends?
Key players in the market include Digital Domain Holdings Limited, Rodeo FX Inc., Hydraulx Visual Effects Inc., Sony Pictures Entertainment Inc., Technicolor SA, Digital Idea Corp., Deluxe Media Inc., Blackmagic Design Pty. Ltd., Foundry Visionmongers Limited, Zoic Studios LLC, Animal Logic Pty Ltd., RE:Vision Effects Inc., Worldwide FX, Video Copilot and Final Image Inc., Framestore Group Limited, Deluxe Entertainment Services Group Inc., Eastman Kodak Company, Lucasfilm Ltd., BUF Compagnie, The Moving Picture Company Limited, Cinesite Visual Effects Studio Limited, ImageWorks Inc., Double Negative Visual Effects Limited, Scanline VFX Inc., Animal Logic, Silicon Graphics International Corp., Weta Digital Limited, The Mill Film, MPC Limited, Method Studios Inc., Pixomondo GmbH.
What Are The Dominant Trends In Visual Effects Market Growth?
Major companies operating in the market are focusing on innovative products, such as AI tools, to drive revenues in their market. AI-based visual effect tools encompass a range of software and technologies that leverage artificial intelligence to enhance and streamline various aspects of visual effects (VFX) production.
How Is The Global Visual Effects Market Segmented?
1) By Type: Matte Painting, Simulation FX, Compositing, Motion Capture, Character And Creature Animation, Concept Art, Previs Or Pre-visualization, Other Types
2) By Component: Software, Hardware, Services
3) By Application: Movies, Advertisements, TV Shows, Gaming
Geographical Insights: North America Leading The Visual Effects Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Visual Effects Market Definition
Visual effects refer to a process by which the creation or enhancement of film or video by using a computer during post-production. They are used to create environments or characters. They are applied to combine live-action footage and enhanced imagery.
Visual Effects Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global visual effects market report covering trends, opportunities, strategies, and more
The Visual Effects Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on visual effects market size, visual effects market drivers and trends, visual effects market major players and visual effects market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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