Global Virtual Production Market Size & Outlook, 2023-2030
Global virtual production market, 2018-2030 (US$M)
Related Markets
Global virtual production market highlights
- The global virtual production market generated a revenue of USD 2,108.1 million in 2023 and is expected to reach USD 6,785.1 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 18.2% by 2030.
- In terms of segment, software accounted for a revenue of USD 880.5 million in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,108.1 million |
| Market revenue in 2030 | USD 6,785.1 million |
| Growth rate | 18.2% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
Other key industry trends
- In terms of revenue, the North America accounted for 36.5% of the global virtual production market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 1,235.3 million by 2030.
Software was the largest segment with a revenue share of 41.77% in 2023. Horizon Databook has segmented the Global virtual production market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The traditional media production process is highly linear, with cinematographers and directors scene planning, VFX creation and editing, and casts assembled on set. Preproduction, production, and postproduction with a one-way flow can lead to adverse outcomes like fix-it-in-post approach, expensive reshoots and redundant VFX work.
Virtual production sanctions production houses to initiate VFX work in preproduction, making digital materials accessible for planning and shooting and letting them fine-tune the final result throughout the production process. Virtual production is an expansion of the traditional filmmaking playbook, consenting studios to tryout more while keeping production time and cost under control.
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Virtual Production Market Scope
Virtual Production Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global virtual production market size, by regions, 2018-2030 (US$M)
Top 10 countries: Virtual production market size, 2023 (US$M)
Global virtual production market share, by component, 2023 & 2030 (%, US$M)
Virtual production market: Opportunity assessment by country
Global virtual production market, by region, 2023 (US$M)
| Component | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 441.8 | 486.4 | 537.5 | 601.1 | 677.3 | 770.3 | 879.9 | 1,010.4 | 1,171.0 | 1,367.8 | 1,607.7 | 1,897.5 | 2,250.1 | 16.6% |
| Europe | 300.1 | 335.4 | 376.2 | 427.2 | 488.5 | 564.0 | 653.9 | 762.3 | 896.9 | 1,063.4 | 1,269.2 | 1,521.3 | 1,832.7 | 18.3% |
| Asia Pacific | 273.2 | 310.0 | 353.0 | 407.1 | 472.7 | 554.2 | 652.5 | 772.3 | 922.7 | 1,110.8 | 1,345.6 | 1,636.7 | 2,000.1 | 20.1% |
| Latin America | 67.5 | 75.7 | 85.4 | 97.4 | 111.9 | 129.8 | 151.0 | 176.9 | 209.0 | 249.0 | 298.5 | 359.5 | 435.1 | 18.9% |
| MEA | 46.9 | 52.9 | 59.9 | 68.3 | 78.1 | 89.8 | 103.7 | 119.6 | 139.0 | 162.1 | 190.7 | 225.2 | 267.1 | 16.9% |
| Overall | 1,129.5 | 1,260.4 | 1,412.0 | 1,601.1 | 1,828.5 | 2,108.1 | 2,441.0 | 2,841.5 | 3,338.6 | 3,953.1 | 4,711.7 | 5,640.2 | 6,785.1 | 18.2% |
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