Special Effects Services Market Forecast and Opportunity Assessment till 2026
May 02, 2022
May 02, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Special Effects Services Market.
It was estimated prior to this unanticipated outbreak that the Special Effects Services Market is expected to grow from USD 3,485.1 million in 2020 to USD 7,187.5 million by 2026 at a CAGR of 12.8% during the forecast period.
Special effects services refer to the development of creative scenes, images, and visual effects that are used in making movies, short films, music videos, and advertisements.
These services are used by filmmakers, studios, artists, brands, ad agencies, and organizations to give an immersive experience to their audiences. The service providers use various kinds of graphical tools to develop such artistic content for their clients.
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Market Dynamics
The special effects services market is continuously growing owing to the increasing usage of computer graphics in the entertainment industry and developments in camera and lighting technologies. Moreover, the use of artificial intelligence (AI) in computer graphics tools offers new opportunities for growth to the market. However, high initial costs and lack of skilled professionals act as restraining factors for the market.
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Market Segmentation
End User Trends
Among the end-users of special effects services, the filmmakers contribute the largest share in the global size of the market.
- Special effects services are extensively used in making films to create artistic scenes in the movie and attract international audiences.
- Advertisement agencies are expected to adopt the services at the highest rate during the forecast period due to the increasing need for innovative and creative ideas in the marketing industry.
Regional Trends
Among regions, North America is expected to be the leader during the forecast period due to the presence of major special effects service providers and the wide adoption of creative graphical solutions in the region.
Asia Pacific is expected to grow with the highest CAGR during the forecast period. The inclination of a wide population towards digital marketing and creative designing acts as a major driving factor for the growth of the computer graphics market in the region.
Key Players:
Key players operating in the global Special Effects Services market are-
- Moving Picture Company UK),
- Industrial Light & Magic (The U.S),
- Weta Digital (New Zealand),
- Pixomondo (The U.S),
- Unreal Engine (The U.S),
- Danish Special Effects Service (Denmark),
- Sony Pictures Imageworks (Canada),
- Phantom Dynamics (The U.S),
- Bloodhound FX (Australia),
- Animal Logic (Australia),
- Flatworld Solutions (India),
- Cinesite (UK),
- Scanline VFX (Germany),
- Digital Domain (The U.S),
- BUF (France),
- Method Studios (The U.S),
- Artem (UK),
- Digital Idea (South Korea),
- LEGEND Studios (Australia).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Special Effects Services analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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