Delving into Market Strategies for Visual Effects: Market Report 2024| Digital Domain Holdings Limited, Rodeo FX Inc., Hydraulx Visual Effects Inc., Sony Pictures Entertainment Inc., Technicolor SA

Overview and Scope
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.

Sizing and Forecast
The visual effects market size has grown rapidly in recent years. It will grow 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..

The visual effects market size is expected to see rapid growth in the next few years. It will grow to $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.. Major trends in the forecast period include blending practical and digital effects, sustainable production practices, personalization and customization, remote collaboration tools, user-generated vfx content, environmental and climate focus..

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Segmentation & Regional Insights
The visual effects market covered in this report is 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

North America was the largest region in the visual effect market in 2023. The regions covered in the visual effects market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing use of digital video streaming services is expected to propel the visual effects market going forward. Digital video streaming services refer to a media streaming platform that delivers data from a video file to a remote user via the internet. Visual effects software is used to create animation and special effects and enhance films with digital elements. Increasing demand for digital video streaming services would require high-quality visual effects for TV shows and movies, which would eventually increase the growth of the market. For instance, in 2022, according to Netflix’s quarterly report, a US-based subscription video streaming service company, the company added 2.41 million subscribers to its video streaming service globally in Q3 2022, making a total of 223.09 million subscribers globally, and reached 4.50 million subscribers in Q4 and Q5 of 2022. Therefore, the increasing use of digital video streaming services is driving the visual effects market.

Key Industry Players
Major companies operating in the visual effects market report are 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

The visual effects market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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