The Latin America, Middle East and Africa Virtual Production Market would witness market growth of 15.3% CAGR during the forecast period (2020-2026).
The implementation of virtual production is increasing in the gaming industry, thereby driving the growth of the market. Aspects like a 3-D environment increased the focus of organizations on creating compact and convenient virtual gaming devices, and consistent technological developments on virtual production platforms, like 3D audio, untethered virtual reality headsets, and cloud scalability. All these factors are likely to boost the market growth across gaming applications. Moreover, the advent of an immersive experience enables 360° views of graphic content and a different level of gaming interaction. Thus, the players are able to control and adjust the gaming environment through their senses. Therefore, the augmented application of virtual production technology in gaming is likely to boost the growth of the market.
The growing adoption of virtual production technology in studios and TV shows is anticipated to drive the demand for virtual production hardware including virtual camera systems, motion capture workstations, and simulation cameras in the coming years. The increasing popularity of 3D design and realistic virtual characters for movies, web series, and video games is anticipated to boost the demand for computer graphics cards.
The increasing applications of computer-generated graphics and visual effects in movies and commercial ads are anticipated to have positive impact on the market growth. Also, constant technological developments in the virtual production software solutions are enabling the creation of engaging content by incorporating advanced VFX features. Additionally, the inclusion of machine learning and deep learning in virtual production solutions is anticipated to boost the development of software with value-added features, hence driving the growth of the segment.
Based on Component, the market is segmented into Software, Hardware and Services. Based on Type, the market is segmented into Post-production, Production and Pre-production. Based on End User, the market is segmented into Movie, TV Series, Commercial Ads, Online Videos and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Virtual Production Market in LAMEA is expected to register a CAGR of 15.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Autodesk, Inc., HTC Corporation, NVIDIA Corporation, 360Rize, Arashi Vision, Inc. (Insta360), Epic Games, Inc., HumanEyes Technologies, Ltd. (Vuze Camera), Mo-Sys Engineering, Ltd., and Boris FX, Inc.
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