Canada Virtual Production Market Size & Outlook, 2023-2030
Canada virtual production market, 2018-2030 (US$M)
Related Markets
Canada virtual production market highlights
- The Canada virtual production market generated a revenue of USD 235.6 million in 2023 and is expected to reach USD 763.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 18.3% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Virtual production market data book summary
| Market revenue in 2023 | USD 235.6 million |
| Market revenue in 2030 | USD 763.8 million |
| Growth rate | 18.3% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Adobe Inc, AGC Inc, Autodesk Inc, Epic Corp, HTC, NVIDIA Corp, The Walt Disney Co, Grom Social Enterprises Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 11.2% of the global virtual production market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. virtual production market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 763.8 million by 2030.
Software was the largest segment with a revenue share of 41.77% in 2023. Horizon Databook has segmented the Canada virtual production market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Key merger & acquisition in virtual production is driving the market expansion in Canada. For instance, in August 2021, William F. White International Inc. ("WFW"), a firm that rents out film and television equipment, and the visual effects studio Pixomondo ("PXO") teamed up to construct two new LED volumes in Canada (Vancouver and Toronto).
VFX studio after expanding its facilities in Vancouver and Montreal and adding facilities in London, Los Angeles, and India, DNEG established a new studio in Toronto in 2021 to augment virtual reality growth in Canada.
People VFX has launched its fourth facility in Quebec, and Goodbye Kansas Studios intends to open a studio there, and As the industry has worked out how to use cloud infrastructure and allow artists to work remotely, Solis Animation established Crooked City Studios to create animation content in Toronto.
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Virtual Production Market Scope
Virtual Production Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada virtual production market size, by component, 2018-2030 (US$M)
Canada Virtual Production Market Outlook Share, 2023 & 2030 (US$M)
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