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2019
Vfx Software Market

VFX Software Market by Component (Software and Service), Deployment (On-premise and Cloud), and Application (Movies, Advertising, Television, and Gaming): Global Opportunity Analysis and Industry Forecast, 2019–2026
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A05668
Pages: 208
Sep 2019 | 7626 Views
Author(s) : Vishwa Gaul , Supradip Baul
Tables: 104
Charts: 51
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VFX Software Market Outlook - 2026

The global VFX software market size is expected to reach $1,445.26 million by 2026 from $559.53 million in 2018, growing at a CAGR of 12.7% from 2019 to 2026. VFX software, also known as visual effects software, is used to produce and manipulate computer generated imagery outputs, which would be expensive, dangerous, or impossible to produce in real life. Its critical uses include motion graphics & compositing. Its expediency and various uses make it the ideal tool for film making and other video content making. Several market players are adopting business strategies such as acquisition and enhanced product launch to develop business which are projected to boost the VFX software market growth.

VXF Software Market Outlook

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Upsurge in use of visual effects in movies, growth in demand for high quality content by consumers are the major factors that drive the growth of the global VFX software market. In addition, rise in adoption of cloud technology for VFX software fuels the growth of the market. However, presence of free & open-source VFX software is expected to hinder the market growth. On the contrary, integration of advanced technologies such as virtual reality & artificial intelligence with VFX software is predicted to offer lucrative opportunities for the growth of the VFX software market.

VFX Software Market
By Component

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Service segment is projected to show highest growth during the forecasted period.

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According to deployment, the on-premise segment accounted for the highest VFX software market share, with revenue of $337.27 million in 2018. This is attributed to the security concerns associated with privacy of video contents produced. Though, the cloud segment is expected to witness high growth during the forecast period owing to its benefit such as, pay as you go approach eliminating the need for capital expenditure (CAPEX), instant access to unlimited storage and processing power.

VFX Software Market
By Deployment

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Cloud segment is projected to show highest growth during the forecasted period.

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The report focuses on the growth prospects, restraints, and visual effects software market trends. The study provides Porter’s five forces analysis of VFX software to understand the impact of various factors such as bargaining power of suppliers, competitive rivalry, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global market growth.

Segment Review

The global VFX software market is segmented on the basis of component, deployment, application, and region. According to component, the market is bifurcated into software and service. In terms of deployment, the market is classified into on-premise and cloud. Depending on application, it is categorized into movies, advertising, television, and gaming. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The key players operating in the global VFX software market analysis include Adobe, Autodesk Inc., SideFX, Maxon Computer, Sitni Sati, The Foundry Visionmongers Limited, Pixar, Chaos Software, Blackmagic Design Pty. Ltd., and Corel Corporation.

VFX Software Market
By Application

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Movies segment dominated the market in 2018.

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North America dominated the overall VFX software market share in 2018, due to early adoption of visual effects in Hollywood movies, major presence of key market vendors and large number of gaming enthusiast customers present in this region. However, increase in spending for VFX in Indian and Chinese movies is expected to offer lucrative growth opportunities for the global VFX software market in the Asia-Pacific region.

VFX Software Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

North America region is expected to dominate the market during the forecast period.

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Top Impacting Factors

Increase in use of visual effects in movies and rise in demand for high quality content by consumers are expected to drive the growth of the VFX software market. However, availability of free & open source VFX software is expected to restrict the growth of this market.

Increase in use of visual effects in movies

Visual effects technology plays a critical role in a movie as it serves both story and the character. It helps a director to efficiently achieve the practically impossible and very expensive part of the shots. In addition, it has become an inseparable part of the film industry as VFX is a bonus to both the film makers and the audience. Moreover, current international movie production industry has adopted the trend of having more budget for VFX than the cast. VFXs can cost from a 20% to 50% of the overall budget. The increase in interest for VFX in the media and entertainment industry along with the usage of VFX strategies for cost pay by financial specialists are the important driving variable of the worldwide impacts of visual effects in the market. This transforming norm of increasingly using visual effects in movies propels the growth of the VFX software market.

Rise in demand for high quality content by consumers

Due to the global consumers’ demands for appealing high definition visual experiences, several filmmakers demand high-quality productions with engaging visual effects and realistic animations. Currently, many studios are including more VFX and animation shots into movies as per the filmmakers’ requests. In addition, there is an increase in the demand for VFX content to power immersive experiences such as AR & VR. 

Apart from the multiplex cinemas, people are consuming more video content on different platforms as well including large, 4K, or ultra-high-definition (UHD) TVs, tablets, and smartphones. The rise in popularity of digital video content platforms augments the demand for rich content and VFX of all types, creating the need for using VFX software. This has also stimulated leading video streaming service providers to implement the latest technologies such as virtual reality, 360-degree and light-field capture, that use visual effects. The increase in the production of content by video streaming service providers has compelled production studios to adopt VFX in their films and television series. The increase in adoption of digital video content platforms such as Netflix, Amazon Prime Video, and Hulu fosters the need for high-quality content and VFX.  Moreover, increase in adoption rates of smart TVs, which support 4K content in turn fosters the need for VFX. The rise in adoption of smartphones, laptops, tablets, and smart TVs further fuel the growth of the digital video streaming services industry. Thus, these factors drive the growth of the global VFX software market.

Presence of free & open-source VFX software

The presence of free and open source visual effects software in the market is expected to hamper the market. Presently, the VFX market has several software which are available free of cost such as, Blender, Fusion 8, Hitfilm Express, and others. According to a survey by the Academy Software Foundation (ASWF), nearly 84% of the industry uses open source software, especially for animation and visual effects. Thus, such freely available software presents threat to the growth of the global market. Thus, availability of free & open-source VFX software is expected to impede the growth of VFX software market.

Key Benefits for VFX Software Market :

  • This study presents the analytical depiction of the VFX software industry along with the current trends and market forecast to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and VFX software market opportunity.
  • The market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • This report also provides the global VFX software market forecast.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the VFX software market.

Key Market Segments & Key Market Players

Segments Sub-segments
By Component
  • Software
  • Service

By Deployment
  • On-Premise
  • Cloud

By Application
  • Movies
  • Advertising
  • Television
  • Gaming

By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players
  • Adobe Inc.
  • Autodesk Inc.
  • Blackmagic Design Pty Ltd
  • Chaos Software
  • Corel Corporation
  • Foundry
  • Maxon Computer
  • PIXAR
  • SideFX
  • Sitni Sati
 

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The global VFX software market is projected to witness moderate growth with a CAGR of 12.7% from 2019 to 2026. The Asia-Pacific region is projected to witness highest growth due to increase in expenditure on visual effects in film production industry in Asia countries such as India and China. The market is also witnessing the trend of increased demand for cloud as a secure platform for VFX software.

Furthermore, the market is witnessing the trends such as using artificial intelligence technologies in the VFX software solutions to enhance the software features and integration of machine learning to offer possibility for neural networks to extract distinct multiple entities from a background through image segmentation, wherein the network tries to identify and steadily track individual facets in a video stream. In the machine learning model, the gathered data is effectively compiled into software, which can render out the similarity continually, accounting for various lighting and other environmental settings. Thus, integration of machine learning, AI and VR are emerging technologies that are expected to positively impact the growth of the VFX software market.

Furthermore, adoption of cloud-based VFX software is expected to gain traction in large companies and offer lucrative growth opportunities for the market growth. These companies are slowly getting aware of the benefits offered by cloud model such as pay-as-you-go model, elasticity in terms of storage, fast video processing facilities, and higher availability and sharing of work.

The key players profiled in the report include Adobe, Autodesk Inc., SideFX, Maxon Computer, Sitni Sati, The Foundry Visionmongers Limited, Pixar, Chaos Software, Blackmagic Design Pty. Ltd., and Corel Corporation. The key market players have adopted various strategies such as acquisition or strategic alliance with start-ups and well-established players to expand their market presence and enhance their product portfolio.

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FREQUENTLY ASKED QUESTIONS?

A. "The VFX Software Market generated revenue worth $559.53 million in 2018 and is projected to reach $1,445.26 million by 2026, to register a CAGR of 12.7% during the forecast period."

A. The forecast period in the VFX Software Market would be 2026.

A. The base year calculated in theVFX Software Market report is 2018.

A. The companies such as Adobe, Autodesk, SideFX, Maxon, Sitni Sati, Foundry Visionmongers, Pixar, Chaos Software, Blackmagic Design Pty. Ltd, and Corel Corporation holds the major share in the VFX Software Market.

A. In terms of deployment, the on-premise segment is estimated to be a matured market growing at a CAGR of 12.10% during the forecast period.

A. "In terms of application, the television segment is estimated to be a most influencing segment growing at a CAGR of 13.70% during the forecast period."

A. "North America dominated the overall VFX Software Market share in 2018 and Asia-Pacific is expected to anticipate highest growth rate of 13.6% during the forecast period."

A. Rise in adoption of visual effects & animation in movie industry, increase in integration of AR & VR technology, and use of AI in VFX software are some of the significant trends boosting the growth of this market.

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