Global Virtual Production Market 2021 Key Drivers And Restraints, Regional Outlook, End-user Applicants By 2029

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The global Virtual Production market was valued at US$1,568.88 million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 15% between 2022 and 2029. Significant increases in movie production budgets and the high usage of visual effects (VFX) in theatre, film, television, and video games are driving market growth.

Virtual Production uses VFX and other technologies that allow filmmakers to visualize digital scenes in three-dimensional (3D) graphics, realistic virtual characters, and a real-time virtual interactive background.

AgileIntel’s global Virtual Production market study is a 158-slide report containing in-depth analysis on historical and forecasted spending patterns in the sector. The study offers granular value data from a global, regional, production stage, and end-user perspective.

The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029.

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Insights ...
... on Production Stage:

The Virtual Production market is classified into pre-production, production, and post-production, based on the stages of production.

The post-production segment leads the Virtual Production market with over 52% revenue share in 2021, mainly due to its increasing importance in editing and collaborating post-shoot videos with graphics and VFX. The segment is expected to grow considerably during the forecast period as there is a constant rise in new video production projects on various video platforms globally. Additionally, the rising application of Virtual Production in commercial ads is expected to drive market growth during the forecast period.

The production segment is anticipated to grow considerably during the forecast years. Combining high-quality visual graphics with a 3D motion-captured imagery character is gaining traction and is likely to positively affect the market growth during the forecast period. By capturing an actor’s movements using virtual cameras, the videographers can show images of a character’s action on screen. The scene can be projected side by side in a realistic graphics environment generated through the computer or a live LED screen in the background.

Insights on Key Markets:

The U.S. is the largest market for Virtual Production with market size of around US$350 million in 2021. The implementation of advanced VFX and Virtual Production technologies and the growing adoption of Virtual Production by movie studios, such as Viacom CBS, Walt Disney Studios, NBC Universal, and Warner Media, are expected to positively influence growth in the region.

The Virtual Production market in China was pegged at over US$130 million in 2021. The market is expected to grow rapidly during the forecast period, driven by Chinese production firms' growing adoption of the technology to reduce visual effects costs in the local productions.

Impact of COVID-19

The Virtual Production market has been positively affected because of the COVID-19 pandemic. As the COVID-19 global pandemic continues to induce physical movement and gathering restrictions, virtual production levels could become a competitive advantage for content creators.

The global outbreak has disrupted film and series production, and this pause in content creation leading to the non-availability of fresh content. Governments worldwide are carefully considering reopening after putting in place new safety measures. Virtual sets move crews from the risks of travel and on-location shooting to the controlled atmosphere of a sound stage, which is a safer way of video production. Digital character development and motion capture, enabled by Virtual Production technologies, could allow for totally remote productions during the pandemic period. However, as the restrictions ease, content production resumes, and the OTT platform is expected to become the preferred channel of new content release, thereby supporting growth in content consumption as well as the virtual production market growth.

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