Industrial Services Market worth $44.1 billion by 2025

Recent Developments in Industrial Services Market

#1 Schneider Electric and Semiotic Labs partnered together to expand EcoStruxure Asset Advisor digital service to include condition-based monitoring and predictive maintenance of rotating equipment

#2 ABB has signed a new frame agreement to deliver safety and automation systems across Equinor’s installed base and greenfield projects worldwide, helping minimize cost, schedule, and risk.

According to the new market research report "Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025", the industrial services market is expected to be valued at USD 33.6 billion in 2020 and is expected to reach USD 44.1 billion by 2025, at a CAGR of 5.6% between 2020 and 2025. Key factors driving the adoption of industrial services include growing need for operational excellence, and increase in demand for maintenance-as-a-service. Moreover, adoption of digital technology to minimize the impact of COVID-19 and elevate organization safety.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209335409

By Type

1. Engineering & Consulting
2. Installation & Commissioning
3. Operational Improvement & Maintenance

Browse 217 market data Tables and 42 Figures spread through 223 Pages and in-depth TOC on "Industrial Services Market and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/industrial-services-market-209335409.html

“Market for the operational improvement & maintenance service to grow at fastest CAGR from 2020 to 2025”

The operational improvement & maintenance services segment includes ad-hoc and emergency maintenance, scheduled maintenance, and predictive maintenance. These services help process and discrete industries to avert unexpected faults and enhance the life of equipment and systems. Operational improvement and maintenance services use an integrated approach that combines both organizational and technical solutions to enhance the working efficiency of a plant.

“MES market to lead the industrial services market during the forecasted period”

MES can process several tasks by controlling the number of production processes. MES helps maintain all the data related to the manufacturing process, such as raw material converted into finished goods and related documentation, and data from robots and employees. The use of MES helps to improve productivity and reduce the production cycle time required for an order to be completed.

“Automotive industry to hold the largest market share for industrial services in 2020.”

The automotive industry deals with the design, development, and manufacturing of vehicles. In this industry, automation plays a vital role in inventory management, performance analysis, design process, and supply chain management. In an assembling process, automation helps companies to reduce production time and increase productivity. Major companies offering industrial services to the automotive industry are Rockwell Automation (US), Emerson Electric (US), General Electric (US), ABB (Switzerland), and Siemens AG (Germany).

 “APAC to be the largest market for industrial services during the forecast period.”

Rapid industrialization has boosted the manufacturing sector in APAC. China is one of the most impacted countries by the COVID-19 pandemic in APAC and a major manufacturing hub and as well as a leading oil & gas producer in the region. Apart from China, vigorous industrial activities in other countries of the region offer lucrative opportunities for the growth of the industrial services market.

Major players in the industrial services market are ABB Ltd. (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corp. (Japan), Mitsubishi Electric Corporation (Japan), Metso Corporation (Finland), and Samson AG (Germany)

Don’t miss out on business opportunities in Industrial Services Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

Silicone-rubber based is the Only Future For Flexible Heater Market Of New Era! Detailed Top Players Analysis.

The global flexible heater market size is anticipated to grow from USD 1.2 billion in 2022 to USD 1.7 billion by 2027, at a CAGR of 7.2% from 2022 to 2027. Rising requirements of flexible heaters in various applications as well as surging demand for novel heating solutions in electronics & semiconductor, automotive & transportation, medical, food & beverages and oil & gas are some of the major factors propelling the growth of flexible heater market.

Browse 191 market data Tables and 56 Figures spread through 200 Pages and in-depth TOC on "Flexible Heater Market and Region - Global Forecast to 2027"

NIBE Industrier(Sweden), Honeywell International(US), Omega Engineering(US), Watlow Electric Manufacturing(UK) and Smiths Group(UK) are the top five players in the flexible heater market globally. These companies offer a wide range of flexible heaters, as well as related solutions and services, and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share.

To know about the assumptions considered for the study, download the PDF brochure

NIBE Industrier

NIBE Industrier comprises many subsidiaries that develop manufacture and sells various energy efficient solutions for intelligent heating and control over Nordic countries, North America and Internationally known for the provision of heating technology solutions. The NIBE Elements business segment deals with component and solution for heating and control such as cable and jackets, resistors, heat exchangers, flexible heaters, and temperature sensors. The company has acquired HT S.p. A, Backer Hotwatt, BriskHeat to expand its business reach in the Flexible heater market The companys clients are based in several countries across the Americas, Europe, Africa, and Asia.

Honeywell International

Honeywell specializes in process technologies, electronic and advanced materials, sensing, safety and security technologies and industrial control system. The company offers flexible heaters under safety and productivity solutions of their business segments for multiple needs in medical electronics market that are available in flat, molded-to-shape, spiral wrap, composite, and high temperature configurations. The product ranges in two series i.e., C3200 and C3400 series that are manufactured from variety of materials including silicon, Kapton and other flexible dielectric components.

Omega Engineering

Omega Engineering is a US based instrumentation company which designs and manufactures product for measurement and control of temperature, humidity, pressure strain, force, flow, level, pH and conductivity. offers a complete line of data acquisition, heating custom engineering products that are fully integrated with in-house design and manufacturing. The company offers different kind of Industrial heaters depending upon the size, shape and need. Flexible heaters fall in the category of surface heaters and comes with silicone rubber and polyimide known for their fast cycle times, thin thickness, flexible nature and adhesive installation features. It operates in all the major regions, such as Europe, the Americas, and Asia Pacific as well as other regions.

Recent Developments

In October 2021, Rogers Corporation acquires Silicone Engineering Ltd., a leading manufacturer of silicone material solution for application in the industrial heater, medical and other markets. Silicone Engineering will provide Rogers center of excellence to service customer requiring premium silicone solutions

In February 2020, Elektrotermija was acquired by Backer AB which is member of NIBE group. The company develops and manufactures intelligent, energy-efficient indoor comfort solutions. Elecktrotermija is a producer of electric heaters and devices based out of Serbia.

Related Reports:

Flexible Heater Market by Type (Silicone Rubber, Polyimide, Polyester, Mica), Industry (Electronics & Semiconductor, Medical, Aerospace, Automotive & Transportation, Food & Beverages, Oil & Gas) and Region - Global Forecast to 2027

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HVDC Capacitor Market detail analysis valued at $15.3 Billion USD : Revenue Impact Report by MarketsandmarketsTM

The report "HVDC Capacitor Market by Product Type (Plastic Film Capacitors, Aluminum Electrolytic Capacitors), Technology (LCC, VSC), Installation Type, Application (Energy and Power, Industrial, Commercial) and Geography - Global Forecast to 2030" The global HVDC capacitor market is projected to reach USD 15.3 billion by 2030 from an estimated USD 5.2 billion in 2022, at a CAGR of 14.4% from 2022 to 2030. The growth of the HVDC capacitor market can be attributed to increasing adoption of renewable energy sources with rising energy consumption and ongoing government initiatives to improve energy infrastructure.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175421495

Browse 149 market data Tables and 78 Figures spread through 242 Pages and in-depth TOC on "HVDC Capacitor Market and Geography - Global Forecast to 2030"

Ceramic capacitors are projected to register the highest CAGR during the forecast period

Ceramic capacitors can withstand variations in voltages. Hence, they find applications in resonant circuits in transmitting stations, bypass filters, oscillators, and coupling or decoupling applications. They are cost-effective and can be used to protect semiconductor devices that find applications in the automotive, transportation, consumer electronics, healthcare, energy and power, and telecommunications sectors. Hence, ceramic capacitors are projected to register the highest CAGR during the forecast period.

The pole-mounted capacitor banks are projected to register the highest CAGR in the HVDC capacitor market

The pole-mounted capacitor banks are projected to register the highest CAGR in the HVDC capacitor market. The growth can be attributed to the increased demand for these capacitor banks owing to several benefits, including easy installation and maintenance, less assembly, simple design, and cost-effectiveness. They are widely used in energy and power applications for transmitting power over long distances.

Europe is projected to account for the largest global market share during the forecast period

The countries house numerous automotive, consumer electronic device, and HVDC capacitor manufacturing companies, generating massive demand for HVDC capacitors in the region. Also, the rapid commercialization of 5G and the speedy development of space projects are contributing to the growth of the HVDC capacitor market in the region.

Hitachi, Ltd. (Japan), General Electric Company (us), TDK Corporation (Japan), Eaton (US), KYOCERA Corporation (Japan), YAGEO Corporation (Taiwan), Vishay Intertechnology, Inc. (US), General Atomics (US), LIFASA, International Capacitors, S.A. (Spain), and ELECTRONICON Kondensatoren GmbH (Germany) are some key players in the HVDC capacitor market

Don’t miss out on business opportunities in HVDC Capacitor Market. Speak to our analyst and gain crucial industry insight that will help your business grow.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently, servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pinpoints around revenues decisions.

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IT Asset Disposition Market detailed analysis worth $23.5 billion by 2027

The report "IT Asset Disposition Market by Service Type, Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices, Peripherals), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), End User and Region - Global forecast to 2027" The global IT Asset Disposition Market size is projected to grow from USD 15.5 billion in 2022 to USD 23.5 billion by 2027; it is expected to grow at a CAGR of 8.7% from 2022 to 2027.

Recent Developments in IT Asset Disposition Market

#1. IBM, Worley, ABB three companies signed a memorandum of understanding for energy companies to build and operate green hydrogen facilities. Worley will provide engineering and construction expertise; ABB will offer electrical infrastructure and IBM will offer system integration services. 

#2. Sims Lifecycle Services partnered with Dutch Data Center Association to be a high-quality supplier of data center services. This partnership strengthened the economic growth and presence of the data center sector within the European region.

IT asset disposition market based on service has been segmented into Remanufacturing and recycling, Remarketing & Value Recovery, Data Destruction/ Data Sanitization, Logistics Management & Reverse Logistics and Other Services. The data destruction/data sanitization service segment is expected to continue to account for the largest size of the IT asset disposition market during the forecast period. The growing need for the proper disposal of IT assets and the risk of important information stored in old assets getting leaked are fueling the demand for data destruction/data sanitization services.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=28474391

Browse 188 market data Tables and 49 Figures spread through 219 Pages and in-depth TOC on "IT Asset Disposition Market by End User and Region - Global forecast to 2027"

Reselling end-of-life IT assets enables recovering operating capital and reducing electronic waste

Remarketing & Value Recovery refers to the concept of reusing and remarketing the used and retired assets back into the market to generate some recovery value or revenue out of it. Before disposing off any hardware, an IT asset disposition service provider will explore all options for reuse. Once IT assets reach the end of their lifespan, through a comprehensive IT asset remarketing program, it is possible to realize a number of significant benefits, including lowering the total cost of ownership for IT assets by capturing the remaining value.

Data sanitation, majorly performed on storage devices to prevent data leakage

NIST 800-88 is a standard known for its data sanitization categories of Clear, Purge, and Destroy. The principles can apply to magnetic, flash-based, and other storage technologies—from USB drives to servers. The goal is to effectively sanitize media so that any and all data is irretrievable once the data or data storage device reaches the end-of-life stage. Devices such as tapes, disk drives, cartridges, and other storage devices are sanitized by NIST specifications using their principles. Any drive that cannot be cleared/purged using a 1-pass overwrite are physically destroyed to ensure that data cannot be recovered.

By Service:

• De-Manufacturing and Recycling
• Remarketing and Value Recovery
• Data Destruction/Data Sanitation
• Logistics Management and Reverse Logistics

Large Enterprises adopt IT asset disposition to reduce impact of e-waste

Large enterprises are generally well-established companies with a developed infrastructure and regional, national, or global operations. Such enterprises operate from multiple locations and have more than 1,000 employees. Large enterprises include private and public sector firms. Companies in this segment have the budget, expertise, and policies to overcome any issues related to safety, policy, and environment in the competitive world. The main concern for large enterprises is to extract the maximum value from the assets and other resources available with the organization to gain a competitive advantage.

North America to hold the largest market share during the forecast period

North America dominated the IT asset disposition market and is expected to maintain this position through the forecast period. Due to the region’s high spending power and presence of much IT asset disposition service providers in the region, North America is expected to hold the largest market size during the forecast period.

The key players operating in the IT Asset Disposition market are Dell Technologies (US), Hewlett Packard Enterprise (US), IBM (US), Sims Limited (Australia), Iron Mountain (US), 3Step IT(Finland), TES (Singapore), and Apto Solutions (US). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently, servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

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Augmented Reality and Virtual Reality Market worth $114.5 billion by 2027

 

According to a research report "Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027" published by MarketsandMarkets, the AR and VR market is projected to grow from USD 37.0 billion in 2022 to USD 114.5 billion by 2027; it is expected to grow at a CAGR of 25.3% from 2022 to 2027. The key factors fueling the growth of this market include increasing application of AR devices in healthcare, increasing demand of AR in retail and e-commerce post pandemic, rising investments in AR and VR market, partnerships between telecom players and AR manufacturers to reduce latency to imperceptible levels, rise in demand for AR in architecture, increasing demand for VR in training and education, high growth of AR and VR in travel, tourism and enterprise applications.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1185

Browse 275 market data Tables and 70 Figures spread through 376 Pages and in-depth TOC on "Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/augmented-reality-virtual-reality-market-1185.html

Head-mounted displays contribute for maximum market share for AR and gesture tracking devices comprise a maximum market share in 2021

For device type segment of AR and VR market, The AR market for head-mounted displays is anticipated to be contributing to maximum market share at a faster growth rate during the forecast period. The use of HUDs in the automotive sector is expected to boost the growth of the AR market for HUDs. The increasing demand for AR smart glasses for industrial applications is expected to drive the growth of the AR market. Consumer applications such as gaming, sports, and entertainment are expected to boost the VR market for head-mounted displays. The VR market for head-mounted displays for consumer applications is expected to increase, but the maximum market share in VR market in 2021 was for gesture tracking devices.

Hardware market for AR and VR is expected to grow more than the software market in the forecast period.

For the offering type segmentation of AR and VR market, the market offers software as well as hardware in both AR and VR market. The market for hardware devices is currently limited. However, it is expected to witness a higher growth rate than the software market owing to the increasing adoption of AR and VR hardware devices. Increasing penetration of AR software solutions and their compatibility with existing hardware devices are expected to drive the growth of the AR and VR market for software during the forecast period. AR technology is anticipated to continue its growth in the software segment through the emergence of various emerging AR projects that will evolve into large-scale projects. The VR market for hardware is expected to hold a larger market share in the forecast period with the increasing boom of the VR hardware such as VR headsets for gaming, entertainment, training. The reduction in the growth rate of the AR market for software is due to the widespread availability of AR software in the market.

Asia Pacific is projected to grow at the fastest rate for AR market during the forecast period and maximum market share in VR market in 2021

For the AR market, by region, the maximum market share of the AR market is contributed by North America with a maximum market share during the forecast period. Even though the AR market are developed in North America, the expected growth rate is lesser than the other regions such as Asia Pacific, which has the highest growth rate during the forecast period, the reason being that the market is already developed in this region, hence, stagnating growth up to a certain extent. For VR market, Asia Pacific region has the largest share in the market in 2021 as well as it is also the fastest-growing region for VR market during the forecast period with the highest growth rate. Several start-ups in the US, Germany, Canada, France, the UK, and India have focused on the upcoming trends in AR and VR services and trends such as virtual training, virtual try-ons for clothing, jewellery, make-up, virtual furniture shopping, Heads-up display in automobile industry; which led to growth in the AR devices and apps in the industry as a whole, which in turn, leads to growth in the AR and VR market.

Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Apple Inc., (US), PTC Inc., (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China) are the key players in the global AR and VR market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

About MarketsandMarkets™

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Interactive Kiosk Market expected to reach $39.1 billion by 2027

 

The report "Interactive Kiosk Market with COVID-19 Impact by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks and Vending Kiosks), Location (Indoor and Outdoor), Panel Size, Vertical and Region - Global Forecast to 2027", is projected to grow from  USD 28.8 billion in 2022 and is projected to reach USD 39.1 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2022 to 2027.

• Informational PDF Brochure :-

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221409707

Browse 172 market data Tables and 60 Figures spread through 278 Pages and in-depth TOC on "Interactive Kiosk Market with COVID-19 Impact by Vertical and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/interactive-kiosks-market-221409707.html

The growth of this market is driven by factors such as enhanced shopping experience for customers, rising demand for self-service in banking & financial services, enhanced applications over conventional services and innovations in touch screen display and glass technology.

“Interactive kiosk market for bank kiosks expected to grow at the highest CAGR from 2022 to 2027 ”

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks. Factors such as the incorporation of modern technology in the banking sector and initiatives taken by banks to combine technology and the finance sector to cut down labor costs and bring about a more technical approach to banking are driving the interactive kiosk market for bank kiosks.

“ Panel size above 32” is expected to grow at higher CAGR from 2022 to 2027”

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2022 to 2027. The panels with sizes between 32 inches and 65 inches are mainly used in the healthcare and hospitality sectors. Besides, these screens are also used in restaurants as menu boards to indicate prices, ingredients, and waiting time of the order taken from customers, though the market has the highest growth in the healthcare and hospitality sectors. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

“ Interactive kiosk market for software & services segment to witness highest CAGR during the forecast period”

The for software & services offering segment is expected to witness higher growth during the forecast period. Software solutions play a major role as the kiosk supplies have to provide customized solutions to the sellers as per the product and location requirements. With progressing technologies, robust and user-friendly software solutions are being deployed for the smooth functioning of kiosks. Hence, the interactive kiosk market for software would experience a high growth owing to these advanced software solutions. Similarly, services that include deployment, installation, training, maintenance, upgrades, and technical support are major concerns for kiosks.

“ North America held significant share of interactive kiosk market in 2021 and is expected to follow the trend by 2027”

North America is expected to account for the largest share of the interactive kiosk market during the forecast period. The interactive kiosk market in North America is driven by various factors such as the need to save time, need for accuracy, high living standard compared with other regions and efficiency in retail services. Interactive kiosk manufacturers in North America are focused on manufacturing precise and fast. The retail sector in the US is moving toward a more solution-oriented approach. This has motivated manufacturers to come up with highly automated products. The favorable economic conditions prevailing in North America and the growing demand for kiosk services among customers have encouraged various end-user industries involved in mainstream automated operations to carry out easy and quick point-of-sale (PoS) services.

Key players in the interactive kiosk market include KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), GLORY LIMITED (Japan), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).

Apart from these, Korala Associates Limited (KAL) (US),  Acante Solutions Limited (UK), SlabbKiosks (US), IntuiFace (France), Aila Technologies (US), Advanced Kiosks (US), Dynatouch (US), LamasaTech (UK), Shenzhen Lean Kiosk Systems Co., LTD (LKS) (China), are among a few emerging companies in the interactive kiosk market.

Don’t miss out on business opportunities in Interactive Kiosk Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Virtual Production Market Trends worth USD 5.1 billion Impact Analysis CAGR of 14.5% by 2027

 

Recent Developments in Virtual Production Market

#1 May 2022, Mo-Sys Engineering Ltd. announced the launch of new Virtual Manufacturing courses to meet the rising need for educated technicians in the virtual production industry. This enhanced and comprehensive program has been meticulously crafted and is expected to be taught by the Mo-Sys' Academy.

#2 April 2022, HTC VIVE launched its first turnkey virtual production product, VIVE Mars CamTrack. It makes virtual production fast, easy, and affordable by consolidating the entire camera tracking workflow into a compact, plug-and-play module with professional-grade features. VIVE Mars CamTrack lets actors jump into any number of virtual backdrops in real-time during production, in many cases eliminating the need to shoot onsite and empowering filmmakers to unleash their full creative potential.

Projected Surge in Revenue Generation:

The virtual production market is projected to grow from USD 2.6 billion in 2022 to USD 5.1 billion by 2027, at a CAGR of 14.5% from 2022 to 2027. Establishment of new virtual production studios expected to create lucrative opportunities for the growth of virtual production market in near future.

To know about the assumptions considered for the study, download the PDF brochure

Adobe Inc. (US), NVIDIA Corporation (US), Sony Group (Japan), Autodesk Inc. (US), Technicolor (France), HTC Corporation (Taiwan), Vicon Motion Systems Ltd (UK), SideFX (Canada), Epic Games (US), Mo-Sys Engineering Ltd. (UK), are some key players in the virtual production market. To retain their presence in the virtual production market, these players have adopted various growth strategies, such as product launches, acquisitions, expansions, partnerships, collaborations, mergers, and contracts. Product launches have been the most dominating strategy adopted by the key players from 2018 to 2022 to help them strengthen their product portfolio and broaden their customer base.

Increasing demand for VFX and CGI in movies stimulates market growth

In 2021, the software segment accounted for the largest share of the virtual production market. The dominance of the segment is attributed to the increasing demand for VFX and CGI in movies. Continuous organic and inorganic growth strategies adopted by virtual production ecosystem players have enhanced the growth of the market. For instance, in May 2022, Mo-Sys Engineering Ltd. formed a partnership with GMS International to make augmented reality and virtual production solutions available to South Korean cinematographers and broadcasters.

Movies segment to capture the lion’s share in the virtual production market

In 2021, the movies segment accounted for the largest share of the virtual production market. The rising trend in moving movies from theaters and multiplexes to over-the-top (OTT) platforms enables producers to access broader audiences. The substantial budgets of movies and increasing demand for VFX-based movies have led to the growth of the movies segment. As stated in the Theme Report 2021 published by the Motion Picture Association, the production of new movies continued to skyrocket post the pandemic. In 2021, approximately 940 films were initiated for production in the US. However, in 2018, 2019, and 2020 only 808, 814, and 443 films were produced during the respective years.

Adobe Inc.

Adobe Inc. is one of the world's largest and most diverse software companies. It provides a suite of tools and services for photographers, video editors, graphic and experience designers, and game developers; communicators, such as content creators, students, marketers, and knowledge workers; businesses of all sizes; and consumers for creating, managing, delivering, measuring, optimizing, engaging, and transacting with compelling content and experiences across personal computers, smartphones, and other electronic devices. It provides various products that pertain to the virtual production market through the Digital Media segment. Furthermore, it provides products, services, and solutions that enable individuals, teams, and enterprises to create, publish and promote their content anywhere and accelerate their productivity by modernizing how they view, share, engage with, and collaborate on documents and creative content. The segment is centered around Adobe Creative Cloud and Adobe Document Cloud.

NVIDIA Corporation

NVIDIA Corporation is a pioneer in GPU-accelerated computing. It specializes in products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive. It provides virtual production solutions through one of its markets named professional visualization. It collaborates with third-party software providers to improve their solutions for NVIDIA GPUs. These GPU computing solutions boost productivity and provide new capabilities to crucial workflows in a variety of industries, including design and manufacturing, as well as digital content creation. Professional video editing and post-production, special effects for films, and broadcast-television graphics are all examples of digital content creation.

Related Reports:

Virtual Production Market by Offering (Hardware, Software, Services), Type (Pre-Production, Production, Post-Production), End User (Movies, Television Series, Commercial Advertisement, Online Videos), Region - Global Forecast to 2027

Contact :
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062