Virtual Production Industry Overview
The global virtual production market size was valued at USD 1.60 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.8% from 2022 to 2030.
Virtual production enables filmmakers to interactively visualize and explore digital scenes such as realistic virtual characters, three-dimensional graphics, and a real-time virtual interactive background environment within the studio. Vast developments in the field of virtual production over the years have led to the introduction of solutions that allow filmmakers to transfer the motion-captured movement of an actor to virtual characters, which are then previewed in real-time, in combination with live-action footage and virtual set extension elements. Such solutions help filmmakers plan and communicate their creative ideas in new and more intuitive ways. The increasing demand for visual effects (VFX) in movie production studios worldwide and the rising application of virtual production in commercial ads are likely to boost the market growth over the forecast period. During the pandemic, in 2020, prominent Hollywood filmmakers, including NBC, MTV, and ABC, began adopting virtual production using cloudbusting, which involved using a robotic camera like the Solo Cinebot to shoot the actors remotely.
Gather more insights about the market drivers, restrains and growth of the Global Virtual Production Market
The increased adoption of the LED video wall technology is augmenting the implementation of virtual production across the media and entertainment sectors. LED video walls display computer-generated graphics in the background and enable filmmakers to capture visual effects in real-time. The LED video wall technology has substituted a green screen, making film production more accessible after the break of Covid-19. For instance, in April 2020, ABC's show SkyLine filmed all their real-life scenes in a 360-degree camera and displayed them on the LED screen instead of the green screen. LED video wall screens create a realistic background visual that replaces an actual shoot location while saving the entire crew time and money. For instance, The Mandalorian TV series has extensively used semicircular LED video walls for the in-house shoot and the virtual production technology for overall production, eliminating the need for on-location shoots. Disney used LED walls of dimensions 20-feet high, 75-feet wide, and 270-degree, which made it possible to present the movement of the 3D image concerning the camera's movement.
The rising popularity of web series containing visual effects and three-dimensional graphic environments encourages video-makers to implement virtual production technology in their video content. Popular web and television series such as Games of Thrones, The Last Kingdom, Black Mirror, and Outlander have extensively implemented visual graphics to create epic and historical scenes. VFX helps produce high-quality video content with realistic graphic characters and artificial scenes that enrich the viewing experience. Moreover, virtual production technology helps reduce video production costs by eliminating the need to shoot at expensive sites and bringing pre-visualization (a part pre-production process) on set. Pre-visualization creates a first three-dimensional representation of the final visual effects action sequence to help moviemakers plan out camera placement and other creative/technical requirements.
With the advent of advanced technologies in virtual production, filmmakers can create more advanced computer graphic characters using facial-capture training data to transform visuals into real-time characters. The most recent example of advanced visual effects is the transformation of actor Josh Brolin’s face into the lead villain Thanos in the latest Marvel Avengers Movies. Furthermore, artificial intelligence and machine learning features are expected to enhance the quality of visual effects further and simplify the design process of a three-dimensional model. Furthermore, the growing applications of artificial intelligence in content creation for action simulation, three-dimensional texturing, and post-process motion-capturing data are expected to lead to the development of advanced visual effect software functions in the near future.
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Virtual Production Market Segmentation
Grand View Research has segmented the global virtual production market based on component, type, end-user, and region:
- Virtual Production Component Outlook (Revenue, USD Million, 2017 - 2030)
- Hardware
- Software
- Services
- Virtual Production Type Outlook (Revenue, USD Million, 2017 - 2030)
- Pre-production
- Production
- Post-production
- Virtual Production End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Movies
- TV Series
- Commercial Ads
- Online Videos
- Others
- Virtual Production Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Market Share Insights
November 2020: Epic Games Inc. acquired Quixel, a photogrammetry asset library company that makes three-dimensional models based on high-definition photography. With the acquisition, Epic Games Inc. aims to provide Quixel’s existing library of models to Unreal Engine users.
March 2020: Epic Games Inc. acquired Cubic Motion, a highly detailed digital facial animations provider for both films and video games. The acquisition would further enrich visuals and three-dimensional graphic environments for the users of Epic Games Inc. solutions.
Key Companies profiled:
Some prominent players in the global Virtual Production market include
- 360Rize
- Adobe
- Arashi Vision Inc. (Insta 360)
- Autodesk Inc.
- BORIS FX, INC.
- Epic Games, Inc.
- HTC Corporation (VivePort)
- HumanEyes Technologies
- Mo-Sys Engineering Ltd.
- NVIDIA Corporation
- com
- Pixar (The Walt Disney Company)
- Side Effects Software Inc. (SideFX)
- Technicolor
- Vicon Motion Systems Ltd.
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