Visual Effects (VFX) Market Size

Visual Effects (VFX) Market size was over USD 10.9 billion in 2023 and is expected to reach USD 22.5 billion by the end of 2036, witnessing around 7.1% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of VFX is evaluated at USD 11.8 billion.  

New digital technologies including VFX, blend virtual camera systems, 3D assets, and advanced motion capture and performance, with real-time render display technology, are facilitating filmmakers to create interactive digital scenes and breakthrough workflows. VFX has taken center stage in the production of feature films and game cinematics. Virtual production leverages computer graphics (CG) upstream and downstream technologies that allow stakeholders to guide technology to produce the desired creative outcome. Autodesk MotionBuilder is an example of a recently launched character animation tool with Pixar’s Universal Scene Description (USD) plugins.

Cloud-based storage of media is more popular than on-premise systems, owing to the robust security architecture offered by cloud-native platforms. Furthermore, such platforms eliminate the need to store assets on vendor sites, move or duplicate files between different vendors, and facilitate users to maintain sovereignty over assets. In 2022, Sony launched Ci Workflow, which gave production companies total control and visibility of their assets.