PUBLISHER: Allied Market Research | PRODUCT CODE: 1344561
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344561
According to a new report published by Allied Market Research, titled, "Post Production Market," The post production market was valued at $22 billion in 2021, and is estimated to reach $46.5 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.
Post-production, which is often used in the production of movies, television shows, or music, is the editing and finishing of recorded or filmed content. It includes a variety of processes that come after the initial creation of the content, such as editing, color grading, sound design, visual effects, and final mastering.
The demand for post-production services has a strong connection with the expansion of the industry and is an essential component of the film and video production process. The need for post-production services increases as more movies, TV shows, and other forms of video material are created. High-quality video content can now be produced more easily and affordably owing to developments in digital technology. Therefore, more independent filmmakers, small production companies, and streaming services are producing unique content
Companies who are unable to compete on pricing may experience reduced profit margins and decreased revenues as a result. It might be challenging for businesses to capture a sizable portion of the post-production market in a competitive market. This may cause some businesses to have trouble finding enough clients to support their operations. These factors are projected to hamper the market revenue growth during the forecast period.
As the usage of computer-generated imagery and animation in the film and television business has increased over time, so has the demand for VFX. VFX artists can work on a range of projects, from adding minor details to increase the realism of a scene to producing explosions and other special effects for action blockbusters. As these technologies develop, the demand for talented VFX artists who can build realism and immersion into virtual environments increases. Visual effects are also seeing an increase in demand in the gaming sector. High-quality VFX are necessary to improve the gaming experience as games get more complex. VFX artists may create lifelike environments or animate humans and other creatures, among other things. All these factors are anticipated to boost the post production market in upcoming years.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were on a standstill. The demand for cloud-based software and solutions has grown as more post-production specialists worked remotely. Companies in the post-production industry had to adjust to a remote work environment and make investments in solutions that support remote file access and collaboration. The pandemic led to production delays and cancellations, affecting the post-production market. Post-production companies had to adjust their schedules and workflows to accommodate these changes. Many companies had to cut their budgets due to the economic impact of the pandemic. This affected the post-production market, as some clients had less money to spend on post-production services.
The key players profiled in this report include: Amazon.com Inc., Animal Logic Pty Ltd., AT and T Inc., Comcast Corp., Deluxe Entertainment Services Group Inc., ErosSTX Global Corp., Framestore Ltd., Lantern Entertainment, Lions Gate Entertainment Corp., Adobe, and Netflix Inc..