19 June 2019, The global
post-production market is subject to witness a substantial growth due to the
emergence of digital transformation in the media sector. Digitalization is
considered as major trend driving the growth of the market over the forecast
period. Digital transformation in the media sector has led to incorporation and
variation of new business and operating models, thus creating a joint,
multi-functional and an on-the-demand digital platform.
Above-mentioned factors
are expected to drive the growth of the market over the forecast period.
Globally, the market is predicted to grow at a CAGR of 7.94%, providing
numerous opportunities for market players to invest for research and
development in the post-production market.
Increasing penetration
of modern technologies such as Internet Protocol Television (IPTV) across the
globe and online streaming services are expected to boost market growth in the
upcoming years. Increasing focus towards adoption of the cost-effective
delivery solution such as High Definition (HD) content by various service
operators across the globe is expected to fuel the growth of post-production
market in the near future.
Introduction number of
online streaming services such as Netflix, Amazon Prime and Hulu are changing
overall perspective of watching television. Such services are offering
commercial content to user while charging on monthly basis. Moreover, easy
availability of DVR services allows users to skip commercials, thus
contributing significantly to market growth over the forecast period.
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| Post-production Market |
Large number of post-production
services are driven by film production budgets in North America region.
However, low profit margins, slow growth and higher operational cost are
restraining market growth to a certain extent. Yet, advent of technologies such
as 2D to 3D conversion services and VFX (Visual effects) services are
anticipated to fuel market demand for post-production services over the next
seven years.
The market is broadly categorized into
four major segments based on the end-user application type such as movies,
television, commercials and online streaming services. The television sector is
considered as one of the fastest growing segment in the market with substantial
revenue generation in the last few years. Growing popularity of post-production
services in the television segment is attributed to the large consumer base and
higher market penetration. The online streaming services segment has also
witnessed substantial growth owing to the availability of commercial content to
user while charging on monthly basis.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in media sector, increase in the number of research
& development activities in the region and existence of well-established
industrial infrastructure.
Asia-Pacific region is predicted to
hold major market share in the post-production market with massive growth in
forecast period. Countries such as India, China, Malaysia, Indonesia, South
Korea and Singapore are leading the Asia-Pacific market with increasing number
of 3D screens, presence of large consumer base, rising personal disposable
income and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the post-production
market are Twenty-First Century Fox, Inc., AT&T, Inc., Rocket Science Ltd.,
Comcast Co., Prime Focus Technologies Ltd., and The Walt Disney Company.
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