The North America Virtual Production Market would witness market growth of 13.8% CAGR during the forecast period (2020-2026). With Virtual production, filmmakers are enabled to interactively explore and visualize digital scenes like three-dimensional graphics, realistic virtual characters, and a real-time virtual collaborating background environment within the studio.
These advancements in the virtual production domain in the last few years have resulted in the advent of solutions that enables filmmakers to send the motion-captured movement of an artist to virtual characters, which are then screened in real-time, along with virtual set extension elements and live-action footage. With the help of such solutions, filmmakers can design and communicate their creative and innovative ideas in new and unique manner. The rising demand for visual effects (VFX) in movie production studios across the world and the increasing utilization of virtual production in commercial advertisement are expected to boost the market growth during the forecast period.
The technology allows filmmakers to lower down the need for on-set production teams and crew members by incorporating virtual background environments into live-action footage. This helps to reduce the costs of video production substantially. Moreover, technological developments in virtual production support broadcasters to enhance their operational competence with the minimum physical presence of technicians in the broadcasting room. For example, Sky Sports adopted a virtual production suite in March 2020, which has assisted its teams to produce content and stream it remotely. The suite connected approximately 48 virtual workstations and a similar number of direct-to-workstation connections that work together for remote editing, instantaneous live programming, and the distribution of live clippings straight to the social media platforms. However, virtual production can create a movie with better and improved visuals and low-priced production, it also poses some challenges, especially due to lack of experience and training among industry professionals.
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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Virtual Production Market in North America is expected to register a CAGR of 13.8% 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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