Rise in use of visual effects in movies, increase in demand for high-quality content by consumers, and adoption of cloud for VFX fuel the market growth.

PORTLAND, OR, UNITED STATES, September 18, 2024 /EINPresswire.com/ -- As per the report, the global VFX software market size was estimated at $559.53 million in 2018 and is expected to reach $1.45 billion by 2026, growing at a CAGR of 12.7% from 2019 to 2026. The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Rise in use of visual effects in movies, increase in demand for high-quality content by consumers, and adoption of cloud for VFX drive the growth of the global VFX software market. On the other hand, presence of free & open-source VFX software hampers growth to certain extent. However, integration of Virtual Reality (VR) technology for visual effects and use of artificial intelligence in VFX software are expected to create lucrative opportunities in the near future.

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Based on geography, North America held the major share in 2018, generating one-third of the global VFX software market. The presence of large number of studios in North America that are using visual effects is the key factor that drives the growth of the North American VFX software market. At the same time, the Asia-Pacific region would cite the fastest CAGR of 13.6% till 2026. This is attributed to the growing demand of visual effects in film industry.

Based on deployment, the on-premise segment accounted for three-fifths of the global VFX software market revenue in 2018 and is anticipated to rule the roost by 2026. The fact that one-premise software has complete control on video content and also ensures the privacy related to the data or content has spurred the growth of the segment. Simultaneously, the cloud segment would register the fastest CAGR of 13.6% by 2026. Low investment cost and economical plans of VFX software as a service are fueling the demand for this segment.

Based on components, the software segment contributed to more than two-thirds of the global VFX software market share in 2018 and is expected to dominate throughout the forecast period. Rising demand for moving media which cannot be completed through live-shooting is propelling the market for VFX software segment. The service segment, on the other hand, is projected to grow at the fastest CAGR of 13.4% during 2019–2026. There has been a steep rise in the adoption of services among end users, as they ensure the effective functioning of software and platforms throughout the process.

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The Asia-Pacific VFX software market is expected to grow at the highest CAGR during the forecast period, owing to a significant increase in expenditure on VFX in the film industry of Asian countries such China and India. In addition, Indian VFX industry has shifted from traditional outsourcing model to its own co-production model and intellectual property. It is thus anticipated to fuel the market growth in the upcoming years.

While doing the VFX software market analysis it has been observed that the market is witnessing the trend of implementing artificial intelligence technology in the VFX software. The inclusion of AI, machine learning into the future VFX software is further anticipated to enhance the productivity in VFX outputs. For instance, artificial semantic grouping and object recognition could be integrated with pre-trained machine learning models to convert simple animatics straight into high-resolution, accomplished visual effects shots. Further, many of the most labor rigorous and iterative tasks such as match move, compositing, rotoscoping, and animation, can be completely automated and performed at reduced cost and with great speed.

Key market players

Autodesk Inc.
Corel Corporation
Blackmagic Design Pty. Ltd.
Maxon Computer
Chaos Software
Sitni Sati
Adobe
The Foundry Visionmongers Limited
SideFX
Pixar

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