PUBLISHER: The Business Research Company | PRODUCT CODE: 1464219
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464219
VFX software is a collection of computer programs and applications dedicated to creating, manipulating, and enhancing visual effects in digital media. These tools are specifically designed to simulate and generate imagery or effects that might be challenging or impossible to achieve through conventional filmmaking or photography techniques. The utilization of VFX software plays a crucial role in elevating storytelling, crafting immersive environments, and incorporating spectacular effects into visual content.
The primary offerings within the realm of visual effects (VFX) software encompass both software and services. Software refers to a collection of programs or data that empowers a computer to execute specific tasks, commands, and operations. Various operating systems, including Windows, Linux, macOS, and others, are part of this software category, deployed through different modes such as on-premise and cloud. These applications find usage in diverse fields such as feature film production, advertising, gaming, music video creation, short film production, web series development, and episodic content creation.
The visual effects software market research report is one of a series of new reports from The Business Research Company that provides visual effects software market statistics, including visual effects software industry global market size, regional shares, competitors with a visual effects software market share, detailed visual effects software market segments, market trends and opportunities, and any further data you may need to thrive in the visual effects software industry. This visual effects software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The visual effects (VFX) software market size has grown rapidly in recent years. It will grow from $1.52 billion in 2023 to $1.74 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth observed in the historic period in the domain of visual effects (VFX) software can be attributed to factors such as increased demand for visual effects in the entertainment industry, globalization of film production, rising budgets for film projects, and the emergence of streaming platforms.
The visual effects (VFX) software market size is expected to see rapid growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth anticipated in the forecast period in the field of visual effects (VFX) software can be attributed to factors such as the increasing demand for 3D content creation tools, integration of VFX in live events, expansion of e-sports and live streaming, and a focus on sustainability and green production. Major trends expected in the forecast period include the integration of artificial intelligence (AI) and machine learning, adoption of cloud-based rendering solutions, real-time collaboration tools, cross-platform integration, and a focus on diversity and inclusion.
The surge in the popularity of digital video content platforms is poised to drive the growth of the visual effects (VFX) software market in the foreseeable future. Digital video content platforms, which encompass online platforms facilitating the creation, sharing, and consumption of video content, are in high demand due to factors such as monetization opportunities, evolving consumer behavior, and personalized content experiences. The incorporation of VFX software into these platforms enhances content quality, creativity, visual appeal, and marketability, contributing to high production value and interactive video content. As of 2021, Wyzowl reported that 91% of businesses had integrated digital video into their marketing strategies, marking an increase from 86% in 2022. This upward trend in digital video content platform popularity is a key driver propelling the growth of the visual effects (VFX) software market.
Prominent companies in the visual effects (VFX) software market are at the forefront of innovation, introducing products such as Maya Creative to enrich their offerings and boost market revenues. Maya Creative, launched by Autodesk Inc., a US-based software company, is a cost-efficient and flexible solution tailored for individual creators and smaller teams, enabling effective competition and content creation in the industry. Unveiled in September 2022, Maya Creative provides powerful tools for 3D animation, modeling, rigging, and rendering, catering to film, television, and game development. The software includes a comprehensive suite of industry-standard creative capabilities, encompassing advanced 3D modeling, look development, texturing, motion graphics, animation deformation, and camera sequencing.
In July 2021, Artlist Ltd, an Israel-based company specializing in sound effects for content creators, completed the acquisition of FXhome Ltd. for an undisclosed amount. This strategic move aimed to combine Artlist's existing offerings, including a collection of stock music and sound effects, with FXhome's video editing and visual effects software, such as HitFilm. The acquisition positioned Artlist to expand its clientele and reinforce its market position by offering a more comprehensive suite of creative tools. FXhome Ltd, headquartered in the UK, is recognized for its visual effects and filmmaking products in the VFX software domain.
Major companies operating in the visual effects (VFX) software market report are Apple Inc., E-on Software, Adobe Inc., Autodesk Inc., Framestore Limited, DNEG Limited, Avid Technology Inc., Blackmagic Design Pty Ltd., Chaos Software, NewTek Inc., Pixar Animation Studios, The Foundry Visionmongers, iToo Software, Side Effects Software Inc., Maxon Computer GmbH, Next Limit Technologies S.L., Artlist UK Limited, Red Giant Software, Isotropix SAS, Greyscalegorilla Inc., BORIS FX INC., Fxhome Ltd., The Pixel Farm Limited, Laubwerk GmbH
North America was the largest region in the visual effects (VFX) software market in 2023. The regions covered in the visual effects (VFX) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the visual effects (VFX) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The visual effects (VFX) software market consists of revenues earned by entities by providing services such as 3D modeling, animation, texturing, digital sculpting, color grading and finishing, and rendering. The market value includes the value of related goods sold by the service provider or included within the service offering. Visual effects (VFX) software market also includes sales of virtual production tools, render engines, plug-ins and extensions, and substance painter. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Visual Effects (VFX) Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on visual effects (VFX) software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for visual effects (VFX) software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The visual effects (VFX) software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.