Market Segmentation
The conventional method of media production follows a strict sequence, with the scene being planned by directors and cinematographers, the cast gathered on set, and the editing and VFX creation commencing and concluding post-filming. This unidirectional flow from preproduction to postproduction can result in unwanted consequences like a “fix-it-in-post” approach, unnecessary or harmful VFX work, and expensive reshoots. Virtual production offers a solution by enabling production companies to initiate VFX work during preproduction. This provides digital resources for planning and filming and allows for continuous refinement of the final product throughout the production process. Virtual production is an evolution of traditional filmmaking, permitting studios to experiment more while maintaining cost and time efficiency. In the face of challenges posed by the global COVID-19 pandemic, virtual productivity could offer a competitive edge for content creators. The pandemic has interrupted film and series production worldwide, potentially leading to a future “content desert”. As governments globally contemplate reopening with new safety measures in place, virtual sets offer a safer alternative by shifting crews from the hazards of travel and on-location shooting to the controlled environment of a sound stage. Advancements in digital humans and motion capture could even enable entirely remote productions. Virtual production not only saves time and money for studios but also allows for virtual scouting, eliminating the need for travel. Early creative decisions and adjustments can lead to optimal choices when actors are on set, resulting in fewer retakes and more efficient filming.
Advanced technologies in virtual production have revolutionized filmmaking. They enable the creation of sophisticated computer graphic characters, transforming visuals into real-time characters. A notable example is the transformation of actor Josh Brolin’s face into Thanos in the latest Marvel Avengers Movies. Artificial intelligence (AI) has significantly improved virtual production technology, enhanced computer-generated graphics, and facilitated the design and visualization of complex scenes in a three-dimensional model. This technology reduces transportation and logistics costs and allows filmmakers to capture live-action scenes using simul-cams or virtual cameras. AI also accelerates video production work by providing pre-production support. It generates insights from large data sets to understand the acceptance and interest in the proposed content. For instance, Netflix uses AI to create video content based on user behavior and has invested USD 15 billion to develop original content. AI can also help understand scripts and suggest real-world locations for creating realistic computer graphic imagery locations.
While virtual production can enhance film visuals and reduce costs, it also presents challenges, mainly due to industry professionals’ lack of training and experience, leading to creative and technical issues. On a virtual production set, virtual elements must seamlessly integrate with live-action footage. This involves creating realistic surface textures, lighting, shadows, and fluid simulations that offer an immersive experience akin to a real film set. The final output largely depends on the real-time engines’ capabilities and the quality of animations, assets, textures, and materials, necessitating skilled artists for exceptional results. Virtual production lacks physical feedback, leaving actors unaware of the actual set, which can affect their performance. Shooting real-time visual effects and game engines poses specific challenges. During virtual production shooting, engineers must ensure all necessary motion data is accurately captured, stored, and distributed. Factors like facial performances, limb rotations, and camera attributes such as aperture, focal length, position, and orientation are continuously monitored, and inaccuracies like jitter or flipping joints need immediate correction.
This section will provide insights into the contents included in this virtual production market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance