New York, USA, Nov. 22, 2021 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global post production market is expected to generate a revenue of $25,463.6 million by 2026, growing rapidly at a CAGR of 5.7% during the forecast period 2019-2026. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Influencing the CAGR Figures Pre and Post COVID-19 Outbreak
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market is predicted to grow at a CAGR of 5.7% during the forecast period, while it was anticipated to be 4.4% in the pre-COVID-19 scenario from 2019 to 2026. Extensive adoption of cloud in post-production stage is expected to drive the growth of the market during the forecast period. In addition, increasing prevalence of Virtual Reality (VR), artificial intelligence, and mixed reality experiences are further expected to bolster the growth of the post production market during the forecast period.
Factors Influencing the Market Size Pre and Post COVID-19 Outbreak
As per the report, the real-time market size of the market has slightly decreased compared to the pre-pandemic estimations. The real-time market size reached a revenue of $8,207.1million in 2020, while its estimations were $18,237.9 million during the pre-COVID scenario. This is majorly due to the halt in movie productions across the globe during lockdowns so as to curb the spread of the lethal virus. But strategic collaborations between prominent players of the market is expected to provide a promising growth of the global post-production market.
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The profitable state of the post-production market is expected to recover by 1st and 2nd quarter of 2023. But there has been a massive rise in the vaccination rate, and hence people across the globe are getting vaccinated at a rising pace which might prevent postponement of movie release dates. In addition, upcoming releases of some of the most anticipated movies among youths or millennials is further expected to create ample opportunities for the growth of the market.
Key Players of the Market
The major players of the market include
- Eros International
- Viacom Inc.
- Netflix Inc.
- MGM Holdings Inc.
- The Walt Disney Co.
- Lions Gate Entertainment Corp.
- Sony Corp.
- Prime Focus Ltd.
- At &T Inc.
- Comcast Corp., and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in April 2021, Streamland Media, a firm that supports films, as well as episodic and interactive entertainment, through its businesses, acquired Sim Post, an international post production business company, in order to strengthen Streamland’s existing presence in Los Angeles and Vancouver and New York City to provide exceptional picture and sound finishing.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status – Inquire to Get access for Detailed Top Companies Development Strategy Report
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