The North America Virtual Production Market would witness market growth of 14.5% CAGR during the forecast period (2024-2031).
The US market dominated the North America Virtual Production Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,565.1 million by 2031. The Canada market is experiencing a CAGR of 16.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15.9% during (2024 - 2031).
This market has emerged as a transformative technology in the media and entertainment industry. This is the distinctive intersection of physical and digital filmmaking. With the help of virtual production, video game technology is blended with filmmaking techniques into the pre and post-production process.
Its real-time computer graphics on set can direct your decisions as a filmmaker. VP refers to the method of developing the digital world, starting with the movie's inception and ending with the last VFX, which revolves around real-time interaction on set. Like earlier, VFX is no longer a matter of post-production, and the production order doesn’t matter in the filming industry now.
The North American entertainment industry, particularly in the U.S. and Canada, has grown substantially in recent years. According to Statistics Canada, the Canadian film, television, and video production sector generated $11.3 billion in operating revenue in 2021, reflecting a 20.2% year-over-year growth. Additionally, feature films accounted for 22.6% of Canada’s total production revenue in 2021, showing a slight increase from previous years. The U.S. remains the world’s largest entertainment industry, and according to the 2021 THEME report by the Motion Picture Association, the combined theatrical and home/mobile entertainment industry reached $36.8 billion, marking a 14% increase from 2020. With major Hollywood studios and streaming giants like Netflix, Disney+, and HBO Max competing for audience engagement, this offers a cost-effective and time-efficient solution. Mexico’s animation and gaming industry is experiencing significant growth, fostering the adoption of these tools such as real-time rendering, motion capture, and virtual sets. Hence, the rising revenue in Canada’s film and television industry, the expanding U.S. entertainment industry, and Mexico’s animation and gaming industry are key drivers for the growth of this market in North America.
Free Valuable Insights: The Virtual Production Market is Predict to reach USD 6.54 Billion by 2031, at a CAGR of 15.2%
Based on Component, the market is segmented into Software, Hardware, and Services. Based on Type, the market is segmented into Post-production, Production, and Pre-production. Based on End User, the market is segmented into Movies, TV Series, Commercial Ads, Online Videos, and Other End User. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Component
By Type
By End User
By Country
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