VFX, that is, the visual effect is a process used in filmmaking through which images are produced and/or maneuvered externally to the perspective of a live action shot. Visual effects consist of the incorporation of produced images and live-action footage to generate situations that look real but actually can be dangerous, impractical, impossible, or expensive to record on film. Visual effects with the aid of computer-generated images have lately become available to the independent filmmaker with the launch of easy-to-use and affordable compositing and animation software. Thus, the rising demand for VFX is anticipated to fuel the market in the near future.
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The major factors contributing to the growth of the market for VFX globally include virtualization technology and remote graphics. Further, enhanced visual experience, enhancement in technology, increased acceptance of VFX, growing experimentation with the medium, increase in use of VFX in the big-budget movies as well as regional cinema are few other factors that may fuel the growth of the market. However, the high labor cost and innate ambiguity in the film industry are few of the key reasons that can restrain the growth of the market for VFX.
The global VFX market can be segmented based on timing, categories, types, region, and others. The categories segment of the market is classified into live-action effects, digital effects, matte painting & stills, and digital animations. The type segment of the market is divided into matte painting, simulation FX, and compositing. Regionally, the global VFX market is grouped into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. The other segment of the market is sub-segmented into movies, advertisements, and TV shows.
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Asia Pacific is anticipated to dominate the market for VFX in the coming period. The growth of this region can be contributed mainly to the increasing demand for entertainment. Also, the rising number of skilled and professional technicians, advancements in technologies, low labor cost, and increasing government support are few other factors that are fueling the growth of the market in this region. However, the growth of the VFX market in Europe is expected to be stagnant in the coming period owing to the lack of skilled & experienced professionals and inadequate government support.
The major players in the VFX market are Zoptic, Absolute Post, Aardman Animation, Ambient Entertainment, Animal Logic, Alchemy 24, Worldwide FX, and Wildfire Visual Effects. The other prominent players in the market are Weta Digital, Warner Digital Studios, Worker Studio, Zoic Studios, Whiskytree, 1000 Volt, and Amalgamated Pixels.
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