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  August 21st, 2023 | Written by

Virtual Production Market size to reach US$ 8 Bn by 2032

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As per the report by Global Market Insights Inc. “Worldwide virtual production market was valued at USD 2 billion in 2022 and will surpass a revenue collection of USD 8 billion by 2032 with an annual growth rate of 15% from 2023 to 2032.”

The demand for immersive and interactive experiences in the entertainment industry, including virtual reality (VR) and augmented reality (AR) applications, has surged, leading to increased adoption of virtual production techniques. The Cambria VR headset from Meta (previously Facebook) is scheduled to go on sale in 2023. Cambria will be a premium headset intended for both consumers and corporate customers.

Advancements in technology, such as real-time rendering and motion capture, have revolutionized filmmaking and content creation, enabling filmmakers to produce high-quality visuals efficiently and cost-effectively. The COVID-19 pandemic accelerated the shift towards virtual production, as it offered a safer and more flexible alternative to traditional on-set shooting.

The overall virtual production market is classified based on component, type, end-user, and region.

Based on the component, the hardware segment will contribute significantly to the market over 2023-2032. As virtual production techniques become more advanced and complex, the need for powerful and efficient hardware is paramount. High-performance graphics cards, processors, and memory modules are crucial for real-time rendering and rendering-intensive tasks. Motion capture systems and camera tracking devices are also in high demand to capture real-world movements and integrate them seamlessly into virtual environments. As the demand for visually captivating and immersive content grows, hardware components play a vital role in driving the virtual production market forward.

By type, the virtual production industry size from the post-production segment will show a high growth rate through 2032. As virtual production techniques become more prevalent, the need for skilled professionals to integrate virtual elements seamlessly into live-action footage is essential. Post-production tasks like compositing, visual effects, and color grading play a crucial role in enhancing the final output’s quality and realism. As content creators and filmmakers embrace virtual production for its efficiency and creative possibilities, the demand for post-production services in the virtual production market continues to grow.

In terms of end-user, the commercial ads segment of the virtual production market will depict notable growth over 2023-2032. Brands and advertisers are embracing virtual production techniques to create visually stunning and innovative ads that captivate audiences. Virtual production allows for cost-effective and efficient production processes while offering endless creative possibilities. With the growing competition in the advertising industry, brands seek to stand out and deliver engaging content, driving the increased adoption of virtual production in commercial ads and contributing to the market’s expansion in this segment.

Regionally, the Europe virtual production market will gain traction during the forecast period due to the region’s film and television industry embracing virtual production. Using techniques for their ability to enhance creativity, streamline production workflows, and reduce costs in the industry supports growth. Additionally, European content creators and filmmakers are increasingly focused on delivering visually immersive and high-quality content to meet the expectations of tech-savvy audiences.