DUBLIN–(BUSINESS WIRE)–Aug. September 2022–
Virtual Manufacturing Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Type (Pre-Production, Production, Post-Production), By End-User, By Region, And Segment Forecasts, 2022-2030 report has been offered to ResearchAndMarkets. com added.
The global virtual production market size is expected to reach USD 6.79 billion by 2030. The market is expected to grow at a CAGR of 17.8% from 2022 to 2030. The increasing popularity of virtual production in the media and entertainment industry, combined with its capabilities of creating high-resolution images and real-time virtual environments, is the key factor behind the growth of the market.
The technology enables filmmakers to reduce the demand for on-set production teams and crew members by incorporating virtual background environments into live-action footage. This allows for a significant reduction in video production costs.
For example, in 2020, after the Covid-19 pandemic, filmmakers in the Hollywood industry found the high-tech solution to shoot without gathering hundreds of people on the set. Using techniques like cloudbusting, Stagecraft LED setup and a robotic camera known as Solo Cinebot to capture actors remotely helped the filmmaker a lot.
Additionally, technological advances in virtual production help broadcasters improve their operational efficiencies with the least physical presence of technicians in the broadcast room.
For example, in March 2020, Sky Sports implemented a virtual production suite that allows its teams to create content and stream it remotely. The suite connected 48 virtual workstations and an equal number of direct-to-workstation connections for remote editing, simultaneous live programming and live clipping distribution directly to social media platforms.
With the advent of artificial intelligence, virtual production technology has seen significant improvements in the quality of its computer-generated graphics. Design and visualization of any complex scene in a three-dimensional model has become convenient, further processing and verification in a real-time environment.
The technology has a positive impact on the market by reducing the cost of transporting and logistical crew members and equipment. It allows filmmakers to capture live-action scenes on set with simultaneous cameras or virtual cameras, seamlessly blending 3D computer-generated graphics elements with the film’s live footage to achieve the final visual effects.
In addition, artificial intelligence facilitates pre-production support that helps speed up video production work. Over the past decade, pre-production work has relied heavily on unstructured box office data and limited viewer demographic information, resulting in less compelling video content development. However, now artificial intelligence can generate insights from large datasets collected from different platforms to understand the acceptance and interest of the proposed content.
For example, Netflix creates video content based on accurate, personalized recommendations and observations of its users’ behavior, such as: B. Browsing history, claims, and data actions such as pausing or rewinding videos. In addition, in April 2021, the company decided to invest $17 billion to create a dedicated database to develop original content based on the data collected by its platform. Artificial intelligence technology can also help to understand screenplays and screenplays to recognize the places described and suggest real places for directors to imagine and create realistic places with computer graphics.
The increasing implementation of virtual production in the gaming industry is also working well for the market. Factors such as the use of a three-dimensional environment, the increased focus of companies on developing compact and comfortable virtual gaming devices, and constant technological innovation on virtual production platforms such as 3D audio, untethered virtual reality headsets, and cloud scalability are expected to drive the market growth gaming applications.
In addition, the introduction of an immersive experience enables 360-degree views of graphic content and a new level of game interaction, allowing players to control and modify the game environment with their senses. This made the interaction with the video games smoother for the player. Therefore, the increased application of virtual production technologies in games is expected to drive the growth of the market.
- Increasing global demand for visual effects in film production
- Growing implementation of LED Wall technology
- Lack of qualified professionals
- High capital expenditure for initial setup
Main topics covered:
Chapter 1 Methodology and scope
Chapter 2 summary
Chapter 3 Market Variables, Trends and Scope of Virtual Production
Chapter 4 Virtual production: Outlook component
Chapter 5 Virtual Production: Enter Outlook
Chapter 6 Virtual Production: End User Outlook
Chapter 7 Virtual Production: Regional Outlook
Chapter 8 competitive landscape
- Arashi Vision Inc. (Insta360)
- Autodesk Inc.
- Boris Fx, Inc.
- Epic Games, Inc.
- HTC Corporation (Viveport)
- Humaneyes Technologies
- Mo-Sys Engineering Ltd.
- Nvidia Corporation
- Pixar (The Walt Disney Company)
- Side Effects Software Inc. (Sidefx)
- Vicon Motion Systems Ltd.
For more information about this report, visit https://www.researchandmarkets.com/r/jrs6zt
View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005809/en/
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SOURCE: Research and Markets
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PUB: 09/13/2022 07:50 / DISC: 09/13/2022 07:52