India Virtual Production Market Size & Outlook, 2023-2030
India virtual production market, 2018-2030 (US$M)
Related Markets
India virtual production market highlights
- The India virtual production market generated a revenue of USD 126.2 million in 2023 and is expected to reach USD 507.1 million by 2030.
- The India market is expected to grow at a CAGR of 22% 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 126.2 million |
| Market revenue in 2030 | USD 507.1 million |
| Growth rate | 22% (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, India accounted for 6.0% 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 Asia Pacific, China virtual production market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 507.1 million by 2030.
Software was the largest segment with a revenue share of 41.76% in 2023. Horizon Databook has segmented the India virtual production market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
India is anticipated to experience the fastest market development over the projection period due to the rapidly increasing demand for original OTT streaming content in the country, pushed by mobile broadband utilization and reduced data charges.
Additionally, the India Brand Equity Foundation (IBEF) reports that in 2021, phone-based gaming apps will make up 86% of all gaming apps, with the Indian gaming industry recently surpassing the U.S. in terms of user population, reaching 300 Million.
The demand for OTT material has increased along with the dramatically altered customer patterns, which has led to significant losses for theatres and theatrical releases. According to EY India, that translates to a total drop of 24%, or a loss of Rs 1.38 trillion, for the Indian M&E industry. In essence, this brought the earnings back to their 2017 levels.
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Virtual Production Market Scope
Virtual Production Market Companies
| Name | Profile | # Employees | HQ | Website |
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India virtual production market size, by component, 2018-2030 (US$M)
India Virtual Production Market Outlook Share, 2023 & 2030 (US$M)
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