Virtual Production Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Type, By End-user, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the virtual production market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for virtual production market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of virtual production market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Virtual Production Market Categorization:

The virtual production market was categorized into four segments, namely component (Hardware, Software, Services), type (Pre-production, Production, Post-production), end-user (Movies, TV Series, Commercial Ads, Online Videos), and region (North America, Europe, Asia Pacific, South America, and Middle East and Africa).

Segment Market Methodology:

The virtual production market was segmented into component, type, end-user, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The virtual production market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East and Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; China; Japan; India; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Virtual production market companies & financials:

The virtual production market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Arashi Vision Inc. (insta360) - Insta360, a business operation of the Chinese multinational Arashi Vision Inc., specializes in the production and marketing of consumer electronics. Their offerings include 360-degree cameras, action cameras, professional VR cameras, editing software, and 180-3D cameras. They serve a diverse clientele, including sectors like media, construction, education, live streaming, and sports. The company is based in Shenzhen, China, with additional offices in Los Angeles, Tokyo, Berlin, and Hong Kong. On the other hand, Adobe Inc., a global software services provider, offers a wide array of solutions for creating and publishing various types of content, such as photography, animation, graphics, illustration, multimedia/video, motion pictures, and print. Their flagship products include Adobe Acrobat Reader, Adobe Illustrator, and Photoshop. They operate in three business segments: Digital Media, Digital Experience, and Publishing and Advertising. Adobe serves a broad customer base, from creative artists and students to government agencies, small businesses, and major global brands, helping them design and deliver exceptional digital experiences. Headquartered in California, U.S., Adobe has a presence in over 60 locations worldwide.

• Arashi Vision Inc. (insta360) - Arashi Vision Inc., a multinational corporation based in China, conducts its operations under the name Insta360. The company specializes in the production and distribution of consumer electronics. Its product line includes 360-degree cameras, action cameras, professional VR cameras, desktop and mobile editing software, and 180-3D cameras. Insta360 serves a wide range of sectors, including media, construction, education, live streaming, and sports. The company’s main office is in Shenzhen, China, with additional branches in Los Angeles, Tokyo, Berlin, and Hong Kong.

• Autodesk Inc. - Autodesk, Inc., a global software corporation, offers software services and products for industries such as engineering, architecture, construction, media, manufacturing, entertainment, and education. Their product suite includes comprehensive software solutions for 3D design, engineering, and entertainment. Autodesk serves a diverse range of industries, including architecture, construction, automotive, genetic engineering, product design, manufacturing, entertainment, and media. The company’s headquarters are in California, U.S., and it has a global presence with offices across the Americas, Europe, and Asia Pacific. Autodesk provides its customers with licensing services for software solutions used in design visualization, game development, 3D animation, engineering, and architecture.

• BORIS FX. - Boris FX is a company that develops, and supplies software and plugins designed for visual effects, video editing, titling, planar tracking, and workflow tools, primarily for post-production and broadcast purposes. Their customer base consists of creative professionals in the video, film, and photography sectors. The company’s product range includes specialized software and plugins such as Continuum, Sapphire, Silhouette, Mocha Pro, and Optics. These products are offered to customers through affiliate and licensing programs. Boris FX is headquartered in Massachusetts, U.S., with an additional office in Guildford, UK, and operates globally through a network of partners and resellers.

• Encore - Encore, a worldwide provider of event technology services, assists clients in conducting their trade shows, meetings, and special events. Their services encompass overhead rigging and 3-D mapping, as well as internet connectivity and bandwidth management. They cater to a variety of events, from small in-house meetings to large-scale multi-media conferences with thousands of participants. Encore’s clientele comprises museums, restaurants, convention centers, hotels, and other event venues. Annually, the company facilitates and coordinates approximately 1.7 million in-person, hybrid, and virtual events. Headquartered in the U.S., Encore operates nearly 2100 in-house venues in over 20 countries worldwide.

• Epic Games, Inc. - Epic Games Inc., a U.S.-based interactive entertainment company, specializes in the development of 3D engine technology, software, and video games. The company has created a commercially available game engine, ‘Unreal Engine’, which not only powers its video games but is also utilized in various other industries such as architecture, manufacturing, automotive, television, and simulation. Through Unreal Engine, Epic Online Services, and Epic Games Store, Epic Games Inc. provides a comprehensive digital ecosystem that enables creators and developers to design, manage, and distribute games and other content. The company, headquartered in the U.S., maintains a global presence with over 40 offices worldwide.

• Hiverlab - Hiverlab, a Singapore-based company, is at the forefront of media technology innovation and content production, with a focus on immersive technology. The company offers cutting-edge products and solutions in a range of areas, including Augmented Reality, Data Visualization, Mixed Reality, System Integration, Virtual Reality, and more. Hiverlab is committed to providing its customers with digital transformation, enhanced communication experiences, and reimagined human interaction. It has forged enduring strategic alliances with leading industry entities such as Huawei, NVIDIA, Autodesk, Seagate, Samsung, AliCloud, and others.

• HTC Corporation (VivePort) - HTC Corporation, a manufacturer of consumer electronics, specializes in the design and production of smartphones and accessories. The company’s virtual reality brand, HTC Vive, includes hardware such as virtual reality headsets and accessories, as well as software and services. VivePort, a global platform for VR content and subscription services, serves as a virtual reality store where customers can view, create, explore, connect, experience, and shop for VR content. HTC, headquartered in Taiwan, operates globally through a wide network of affiliated sales and service providers. The VivePort platform is accessible in over 70 countries worldwide.

• HumanEyes Technologies - HumanEyes Technologies is a global provider of virtual reality solutions, with a strong foundation in computer vision, image processing, and 3D technologies. They hold over 70 patents related to VR, which are utilized in the creation of cutting-edge software, hardware, and cloud services for vision technologies. Their offerings range from camera-to-cloud solutions, the creation of virtual tours, and rapid VR content creation, to high-resolution live broadcasting. Headquartered in Israel, HumanEyes Technologies has a broad operational reach through its extensive global network of suppliers.

• Monolith Asia - Monolith Asia, a corporation based in Japan, provides a broad spectrum of multimedia services. They cater to the communication needs of international corporations across seven locations in the Asia Pacific region. Their primary focus is on delivering managed services such as Production and Studio management, Virtual Conferencing, VR Production, Dubbing and Subtitling of TV shows and Films, Digital Signage, and Events and Event facilities. Monolith Asia also specializes in sourcing and managing multimedia personnel and AV for large-scale businesses. Their service portfolio extends from managing system integration providers for cost-effectiveness and advanced technology that surpasses business expectations to offering consultations on media content creation with a focus on return on investment.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Virtual Production Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2017 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Virtual Production Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.