According to the report by Expert Market Research (EMR), the North America visual effects market size is expected to grow at a CAGR of 8.3% in the forecast period of 2023-2028. Aided by the increasing demand for quality content, increasing number of film enthusiasts and filmmakers, and technological advancements, the market is expected to grow significantly by 2028.
Visual effects (VFX) use digital technology to create or manipulate imagery outside the context of live shots during filmmaking. They play a pivotal role in producing appealing and realistic scenes in films, television shows, video games, and virtual reality experiences. Apart from their entertainment value, visual effects offer significant practical advantages, such as cost savings, enhanced safety, and the ability to create imagery that would otherwise be impossible or impractical.
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The increasing consumer demand for high-quality visual content is driving the North America visual effects market growth. As audiences become more sophisticated, there is a significant shift towards content with superior visual aesthetics and realism, leading to a surge in demand for advanced visual effects. Moreover, the growing popularity of science fiction and fantasy genres, which heavily rely on visual effects, further fuels this demand.
Furthermore, the rise of streaming platforms and digital media has considerably contributed to the North America visual effects market expansion. As these platforms compete for subscribers, they invest heavily in original content with high production values, which often include impressive visual effects. Additionally, the proliferation of mobile devices and high-speed internet connectivity has broadened the audience for such content, further stimulating market growth.
The expanding applications of visual effects across various industries also play a significant role in propelling the North America visual effects market development. In the gaming industry, for instance, visual effects are used to create immersive and realistic gaming experiences. Meanwhile, in the advertising industry, visual effects are increasingly used to produce engaging and memorable advertisements.
The growing demand for virtual and augmented reality experiences has also led to an increased focus on visual effects. These experiences rely heavily on visual effects to create realistic and engaging virtual environments, thereby driving the North America visual effects market demand.
Market Segmentation
The market can be divided based on component, technology, product, application, and country.
Market Breakup by Component
- Hardware
- Software
- Services
Market Breakup by Technology
- AI (Artificial Intelligence)
- AR (Augmented Reality)
Market Breakup by Product
- Compositing
- Modelling
- Animation
- Matte paintings
- Others
Market Breakup by Application
- Movies
- Television
- Gaming
- Advertisements
- Others
Market Breakup by Country
- United States
- Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the North America visual effects companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Animal Logic Group
- Montréal International
- Disney Enterprises, Inc.
- Framestore Limited
- Sony Pictures Entertainment Inc.
- Industrial Light & Magic
- Others
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