Overview:

The global visual effects services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Visual effect is a technique to generate imagery or alter the context of any action that is live while making film or video or animation. The various services offered in the visual effect field includes but not limited to VFX shot, post production VFX, matte painting, set extension, visual effects, environment development and creation, composition, blurring, digital effects, and modelling.

Market Dynamics:

Growing media sector is a major factor driving growth of the adoption of visual effect services in various end use fields such as film making across the globe. Increasing funding and budget allocation for film production owing to increasing viewers interest towards movies that are having visual effects is supporting growth of the global visual effects services market.

In addition, rising number of local players in the market and growing strategic initiatives such as collaborations and ventures among key players is fueling growth of the visual effect services market. Additionally, high growth in smartphone users has been observed over the last couple of years. The budget smartphones are now integrated with high-quality hardware having HD, HD+, and super AMOLED screens and displays. This in turn driving growth of the global market.

High cost per shot VFX is a one of the key factors hampering growth of the global visual effects services market to some extent. However, with increased adoption of VFX services and development of modular reels the cost of some VFX shots is expected to reduce during the forecast period.

Key Trends:

Rising strategic initiatives by key players to increase their market reach and market share is a key trend witnessed in the global visual effects services market. For instance, in June 2020, Double Negative (DNEG) has announced that its Montreal studio will be joining forces with Spectrum Productions to help young creatives with autism develop their skills through a variety of after-school programs, clubs and camps that support their creative journey and development.

Regional Analysis:

For detailed understanding of market dynamics, the global visual effects services market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The is owing to strong presence of key companies in countries in the region. Also, the Hollywood industry has adopted visual effects earlier which is resulted in the high market growth in this region.

The visual effects services market in Asia Pacific region is expected to register significant CAGR during the forecast period owing to growing adoption of visual effects in web series and Bollywood film. Moreover, rising viewers or population base in countries such as India and China is another factor supporting target market growth in the region.

Scope of the Report:

Detailed Segmentation:

Global Visual Effects Services Market, By Product Type:

• Special Effects
• Digital Effects

Global Visual Effects Services Market, By End Use Industry:

• Television
• Film
• Video Game

Key Players Covered:

Key players operating in the global visual effects services market includes Industrial Light & Magic (LUCASFILM LTD.), The Mill (Facility) Ltd., Weta Digital, Moving Picture Company, Double Negative (DNEG), Sony Pictures Imageworks Inc., Cinesite Studios, Digital Domain Holdings Limited, Deluxe Entertainment Services Group, Framestore, Animal Logic, Pixomondo LLC, and Digital Idea Corp.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Visual Effects Services Market by product type, end use industry, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global visual effects services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.