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Virtual Production Market Size Worth USD 7.19 Billion by 2029 | Report by Fortune Business Insights

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Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) — The global virtual production market size was valued at USD 2.54 billion in 2021. The market is projected to grow from USD 2.86 billion in 2022 to USD 7.19 billion by 2029, exhibiting a CAGR of 14.1% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, “Virtual Production Market Forecast, 2023-2029.”

Key Industry Development

The first turnkey virtual production product, VIVE Mars CamTrack, was just released by HTC VIVE. By combining the tracking workflow of an entire camera into a tightly packed, plug-and-play module with professional functionality, this solution makes software accessible, quick, and easy to use.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/virtual-production-market-107105

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 14.1%
2029 Value Projection USD 7.19 Billion
Base Year 2021
Virtual Production Market Size in 2021 USD 2.54 Billion
Historical Data for 2018 to 2020
No. of Pages 120
Segments covered Type, Application,  and Geography
Virtual Production Market Growth Drivers Increasing Adoption of VFX in Movie Production to Propel Virtual Production Market Growth

Key Takeaways

  • Adoption of Virtual Production for Animated Industry to Foster Growth
  • Virtual Production Market Size in North America was USD 0.89 Billion in 2021
  • The highest rate of production technology adoption in movie studios is in the Asia-Pacific region.
  • The software segment is likely to gain traction due to increased demand for immersive technologies.
  • Extensive Rise in the Use of Virtual Production Systems in Movies to Fuel the industry Growth


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https://www.fortunebusinessinsights.com/virtual-production-market-107105

Driving Factors

Increasing Adoption of VFX in Movie Production to Propel Virtual Production Market Growth

  • A growing use of VFX has resulted from the desire for high-quality content. In order to include effects that might not have been caught during live action filming, VFX is used to adapt, produce, and enhance live action media.
  • This aids in the creation of special effects such as fire, explosions, the creation of creatures, the destruction of objects, and helps viewers better understand the plot.
  • TV shows, movies, advertising, video games, and other media frequently use visual effects.

Segments

Growing Adoption of Virtual Production Technology to Boost the Market

By type, the market is bifurcated into technology/system and services.

In 2021, technology/system segment accounted for the largest virtual production market share and is projected to grow with a high CAGR during the forecast period.

Extensive Rise in Use of Virtual Production System in Movies to Fuel the Market Growth

By application, the market is classified into movies, TV series, commercial ads, E-sports, and others (online video, events, music concerts).

As per the analysis movies segment dominated the market due to significant increases in movie production budgets and increased use of VFX by Hollywood movie studios.

The market is geographically studied across North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

Report Coverage

The report presents a systematic study of the market segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.

Have Any Query? Ask Our Experts:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/virtual-production-market-107105

Regional Insights

North America to Lead Backed by Increase in Adoption of Advanced Technologies

Our research shows that North America will create the largest revenue share during the forecast timeframe. Increased use of new technologies in the media and entertainment industry, such as Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI), and others, is driving the market in the region.

The Asia Pacific region has the highest rate of production technology adoption in movie theatres. Major economies surging the demand for these solutions include China, India, Australia, Japan, and South Korea. The expansion of the market is being positively impacted by the increasing popularity of on-demand video content among the region’s young and online video streaming in the region.

Competitive Landscape

Innovative Product Launch Announcement by Key Players to Bolster Market Growth

The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.

List of Key Players Covered in the Report

  • Adobe Inc. (U.S.)
  • Technicolor (France)
  • NVIDIA Corporation (US)
  • Sony Group (Japan)
  • Autodesk (U.S.)
  • Pixotope Technologies (Norway)
  • Aximmetry (Hungary)
  • Mo-Sys Engineering (England)
  • Glassbox Technologies (U.S.)
  • AV Stumpfl GmbH (Austria)

Access Full Report– Virtual Production Market

https://www.fortunebusinessinsights.com/checkout-page/107105

Major Table of Contents:

  • Global Virtual Production Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Technology/System
      • Services
    • By Application (USD)
      • TV Series
      • Commercial Ads
      • Movies
      • E-sports
      • Others
    • By Region (USD)
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia Pacific
  • North America Virtual Production Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Technology/System
      • Services
    • By Application (USD)
      • TV Series
      • Commercial Ads
      • Movies
      • E-sports
      • Others
    • By Country (USD)
      • United States
      • Canada
      • Mexico
  • South America Virtual Production Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Technology/System
      • Services
    • By Application (USD)
      • TV Series
      • Commercial Ads
      • Movies
      • E-sports
      • Others
    • By Country (USD)
      • Brazil
      • Argentina
      • Rest of South America

FAQ’s

How big is the virtual production market?

The Virtual production market size was USD 2.86 billion in 2022 and is projected to reach USD 7.19 billion by 2029

Which region is expected to hold the highest market share?

North America is expected to hold the highest market share.

Related Reports:

Augmented Reality [AR] Market Size, Share, Industry Growth 2029

Virtual Reality Market Size, Share, Analysis and Forecast 2023-2029

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

PolyU research finds improving AI large language models helps better align with human brain activity

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HONG KONG, May 27, 2024 /PRNewswire/ — With generative artificial intelligence (GenAI) transforming the social interaction landscape in recent years, large language models (LLMs), which use deep-learning algorithms to train GenAI platforms to process language, have been put in the spotlight. A recent study by The Hong Kong Polytechnic University (PolyU) found that LLMs perform more like the human brain when being trained in more similar ways as humans process language, which has brought important insights to brain studies and the development of AI models.

Current large language models (LLMs) mostly rely on a single type of pretraining – contextual word prediction. This simple learning strategy has achieved surprising success when combined with massive training data and model parameters, as shown by popular LLMs such as ChatGPT. Recent studies also suggest that word prediction in LLMs can serve as a plausible model for how humans process language. However, humans do not simply predict the next word but also integrate high-level information in natural language comprehension. 
A research team led by Prof. Li Ping, Dean of the Faculty of Humanities and Sin Wai Kin Foundation Professor in Humanities and Technology at PolyU, has investigated the next sentence prediction (NSP) task, which simulates one central process of discourse-level comprehension in the human brain to evaluate if a pair of sentences is coherent, into model pretraining and examined the correlation between the model’s data and brain activation. The study has been recently published in the academic journal Sciences Advances.
The research team trained two models, one with NSP enhancement and the other without, both also learned word prediction. Functional magnetic resonance imaging (fMRI) data were collected from people reading connected sentences or disconnected sentences. The research team examined how closely the patterns from each model matched up with the brain patterns from the fMRI brain data.
It was clear that training with NSP provided benefits. The model with NSP matched human brain activity in multiple areas much better than the model trained only on word prediction. Its mechanism also nicely maps onto established neural models of human discourse comprehension. The results gave new insights into how our brains process full discourse such as conversations. For example, parts of the right side of the brain, not just the left, helped understand longer discourse. The model trained with NSP could also better predict how fast someone read – showing that simulating discourse comprehension through NSP helped AI understand humans better.
Recent LLMs, including ChatGPT, have relied on vastly increasing the training data and model size to achieve better performance. Prof. Li Ping said, “There are limitations in just relying on such scaling. Advances should also be aimed at making the models more efficient, relying on less rather than more data. Our findings suggest that diverse learning tasks such as NSP can improve LLMs to be more human-like and potentially closer to human intelligence.”
He added, “More importantly, the findings show how neurocognitive researchers can leverage LLMs to study higher-level language mechanisms of our brain. They also promote interaction and collaboration between researchers in the fields of AI and neurocognition, which will lead to future studies on AI-informed brain studies as well as brain-inspired AI.”
Media ContactMs Annie WongSenior Manager, Public AffairsTel: +852 3400 3853Email: [email protected] 

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Artificial Intelligence

VivaTech 2024: a record-breaking event

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PARIS, May 27, 2024 /PRNewswire/ — VivaTech 2024 broke records with more than 165,000 visitors over four days, a 10% increase over 2023. The event welcomed 13,500 start-ups, a 20% increase over the previous year.

A BUSINESS AND FINANCE ACCELERATOR
VivaTech has established itself as a key business event, generating more than 400,000 online business connections this year. Startups forged business relationships with companies from 25 sectors and met over 2,000 investors.
VIVA TECHNOLOGY CONFIRMS ITS INTERNATIONAL APPEAL
The event attracted representatives from more than 120 countries and 40 national pavilions. Japan, the country of the year, showcased its ecosystem with a ministerial delegation and more than 40 startups. Africa was also in the spotlight with the Africa Tech Lab and the AfricaTech Awards, honouring innovative startups such as Schoolz, Rology and Inclusivity Solutions.
AI AND SUSTAINABLE TECH AT THE HEART OF THE PROGRAMME
VivaTech 2024 showcased the latest advances in artificial intelligence, with nearly 40% of exhibitors dedicated to this technology. Sustainable tech was also in the spotlight, especially through the Impact Bridge, a space dedicated to initiatives for a sustainable future. VivaTech’s environmental efforts were rewarded with ISO 20-121 certification.
DIVERSITY MORE THAN EVER IN VIVATECH’S DNA 
Diversity took centre stage where over 40% of speakers were women. Among the most notable initiatives, the Female Founder Challenge rewarded Albane Dersy from Inbolt. At the same time, Femtech France took advantage of the event to launch its second Femtech industry barometer.
THE MEETING PLACE FOR REVEALS, EXCLUSIVITIES AND INNOVATIONS
For four days, VivaTech was the scene of numerous revelations, with some fifty worldwide or European exclusives unveiled. Among these, Tesla’s Cybertruck made its first appearance in France, marking a highlight of the event.
INTERNATIONAL SPEAKERS
VivaTech 2024 consolidated its position as the must-attend technology event with over 400 international speakers sharing their visions on AI and sustainable tech. Speakers included Elon Musk, John Kerry, Eric Schmidt, Arthur Mensch, Robin Li, Linda Yaccarino and Serena and Venus Williams. Institutional figures such as Fumio Kishida, Bruno Le Maire and Thierry Breton also took an active part in the debates.
WE LOOK FORWARD TO SEEING YOU FROM 11 TO 14 JUNE 2025 AT PARIS PORTE DE VERSAILLES!
Contact: [email protected]
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Artificial Intelligence

Only Much Louder’s AI-powered influencer marketing tech, Hypothesis, expands globally, to empower brands to connect with international creators

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OML Entertainment’s Hypothesis is targeting the Asia–Pacific Region, Middle East, Africa, and USA by 2025.Hypothesis will open borders for brands and agencies, facilitating a region-agnostic global platformMUMBAI, India, May 27, 2024 /PRNewswire/ — Only Much Louder’s AI-powered influencer marketing tech, Hypothesis, expands its global footprint, after revolutionizing the Indian influencer market. In the first phase, Hypothesis will be available in the Asia–Pacific region (Singapore, Australia, Malaysia, Philippines, Vietnam, Thailand), Middle Eastern countries (Abu Dhabi, GCC nations, Egypt, Lebanon, Saudi Arabia, Kuwait, Qatar) as well as in Africa (Kenya, Nigeria, South Africa) and the USA.

Himani Agrawal, Senior Vice President, Hypothesis-OML, said, “At Hypothesis, we’re proud to offer a comprehensive kit for creator evaluation using 100+ data points. We provide the ultimate tool for your marketing arsenal. This is made even more convenient with our self-serve mode, empowering brands to initiate impactful influencer campaigns independently.”
Hypothesis streamlines data-driven influencer marketing globally, after recognising a critical disconnect between creator technology and services. Hypothesis was created with an inherent potential to serve a global audience, by empowering brands and agencies to transcend geographical limitations and unite discovery, outreach, and analytics in a single, user-friendly platform. This will accelerate the growth of the creator economy, creating opportunities for creators and brands.
Gunjan Arya, CEO of OML Entertainment, said, “We will be closely monitoring the milestones of Hypothesis to infiltrate the markets at the rate of 5–10% in the first year. We will also keep an eye on the acquisition rate, which is aimed to rise by 15–20%. Besides, we seek to derive over 35% of revenue from our global expansion efforts.”
With Hypothesis, OML is strategizing to expand into markets like Australia, the Asia–Pacific, the Middle East, and Africa, due to the region’s influencer marketing industry, which stands at 33.4% CAGR. Regions like the USA and the MENA have emerged as key players that are driven by advanced technologies and demand for data analytics.
Leveraging OML’s successful presence in Southeast Asia, the Middle East, Africa, and Eastern Europe, Hypothesis is set for a smooth rollout. OML’s established network, combined with their in-house expertise, will provide a strong foundation for this endeavor.
For details, visit hyp.io
Photo: https://mma.prnewswire.com/media/2422425/OML_Entertainment_Hypothesis.jpg
 

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