According to Arizton's latest research report, the film and episodic VFX market will grow at a CAGR of 11.54% from 2022-2028. Film and Episodic VFX market revenue to double in the next six years.
According to Arizton's latest research report, the film and episodic VFX market will grow at a CAGR of 11.54% from 2022-2028. Film and Episodic VFX market revenue to double in the next six years.
Rising OTT platform penetration, increasing 5G networks, and growing AR & VR technology adoption drive the film & episodic VFX market. Moreover, vendors' ongoing mergers & acquisitions, and partnerships in the film & episodic VFX market enable vendors to expand their VFX portfolios, expand across various platforms, and enter new markets, thereby enhancing their customer base. Vendors are trying to provide value-additions with better technology & experience, which are expected to favor market growth.
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The Work from Home (WFH) trend is another crucial factor that has made OTT platforms popular worldwide. These platforms are widely accepted and appreciated for their ease of usage and personalized approach. Affordability is also one of the key factors. Netflix and Amazon Prime Video were the only two main platforms, but in recent times, several other names have popped up, which Disney+, Hulu TV, and many more. Hence, filmmakers have many options to choose from to sell their content. When the demand for content is high, the delivery time is less, which generates a lot of pressure. Therefore, this leads to a surge in demand for VFX in films and episodic content, indicating a high demand in the market.
With the integration of 5G, VFX film & episodic will continue to enhance, even when it is of the highest quality. As the quality of film & episodic content continues to increase, the future of VFX is on an interesting path. With 5G, new tools and techniques can be developed much better and faster in the media industry. However, the Millennial & gen Z population are highly aware of various new VFX films & series in various OTT platforms that are trending in the market. They offer the long-term potential for VFX vendors to expand their revenue. Hence, millennials and Gen Z are increasingly pushing the demand for VFX film & episodic content worldwide.
Adoption of AR & VR Technology
In film & episodic VFX, AR enables users to experience the film & episodic audio and visual content in the real environment. It allows the creation of a film within the existing environment. The increasing tablet and mobile device penetration and the rising adoption of technologies in several industries lead the market growth. The AR and VR technology offers users an entertaining and immersive experience, which enables VFX companies to integrate these features into their platforms. Hence, continuous development and evolution are leading to the development of a better and more advanced version of film & episodic VFX. The accessibility of entertainment with the help of VFX is changing dramatically. AR and VR-based films & episodic are increasingly gaining popularity among viewers and are providing significant growth opportunities to the market for developers. AR-based films & episodic have already gained considerable momentum, but continuous innovation in the VR field is expected to provide new growth opportunities in the market.
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2024 AICP Awards Tour Concludes with Stops in Dallas and Chicago
The 2024 AICP Awards Tour concludes with stops in Dallas and Chicago this month as it wraps up its tour of cities across the U.S. The National Tour brought presentations, panels and screenings to marketers, advertising agencies, production and post production companies. The AICP Awards will be in Dallas on Thursday, November 14th, at the Perot Museum of Nature and Science, followed by the Chicago event, set for Thursday, November 21st at The Old Post Office. Tickets are available now for both events at www.aicp.com. In Dallas, the program kicks off at 6:45 pm with a happy hour, followed by the screening and panel discussion at 7:30. The evening ends with a networking reception from 8:30 to 11:30. The Perot Museum of Nature and Science is located at 2201 N. Field Street in Dallas. Appearing in Dallas will be Abe Garcia, Chief Creative Officer, Dieste; Julia Melle, Director of Brand and Content, Southwest Airlines; and Isaac Pagán Muñoz, VP, Executive Creative Director of PepsiCo Foods. The panel will review selected winners from the suite of the AICP Awards programs, offering insights into what made them rise to the top of their respective categories and share their viewpoints on key trends in the industry. The Chicago stop starts at 6:00pm with a happy hour, followed by the presentation and screening at 7:00pm. A reception caps the event, starting at 8:00pm and concluding at 11:30pm. The Old Post Office is located at 433 W Van Buren Street in Chicago. The panel there will feature 2024 AICP Awards Curators and Winners from the marketer, agency, production and post production sectors who’ll highlight this year’s winners. The conversation will include a discussion about the winning work, including insights... Read More