Virtual Production Market Segmentation:
Offering Segment Analysis
Based on offering, software segment in the virtual production market is predicted to hold largest revenue share of about 50% during the forecast period. Positive market growth is anticipated as a result of the growing use of computer-generated graphics and visual effects in motion pictures and commercials. The proliferation of different items in the gaming sector and the growing use of virtual production will also have a favourable effect on market growth. Global gaming population is predicted to reach 3.32 billion by 2024. Additionally, by combining cutting-edge VFX capabilities, virtual production software solutions are making it possible to create interesting video through continual technological improvements. Furthermore, it is anticipated that the increasing use of deep learning and machine learning in virtual production solutions would spur the creation of software with additional features that offer value, which will support the segment's expansion.
End User Segment Analysis
Based on end user, movies segment in the virtual production market is projected to hold largest revenue share of about 30% during the forecast period. The expansion of this market is driven by the significant rise in film production budgets as well as the widespread use of visual effects in Hollywood and other local studios. Over the course of the forecast year, the growing trend of moving movie broadcasts from theatres and multiplexes to over-the-top (OTT) platforms will likely propel the segment's growth as it enables filmmakers to reach a wider audience.
Our in-depth analysis of the global virtual production market includes the following segments:
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