LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global post-production market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Although the post-production industry seems to have stagnated globally, the VFX and 2D-to-3D conversion services are growing significantly. VFX is expected to be one of the fastest growing post-production services. The VFX market is extremely competitive. However, the scope of profit is relatively low for the existing business models. The success of the vendors will predominantly depend on the relationship with the movie studios, specific capabilities, and efficient pipeline management, which include workload distribution and integration.
Ujjwal Doshi, a lead analyst from Technavio, specializing in research on the media and entertainment services sector, says, “Post-production transforms raw footage into a presentable video. Without post-production, a video would not be as dramatic as it should be. This is especially important for professional videos that are expected to generate revenue. Some of the basic post-production techniques include color grading, audio editing, titles, camera angles, and resizing of videos.”
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The top three emerging trends driving the global post-production market according to Technavio research analysts are:
- Businesses being outsourced
- Growth of AR and VR market
- Less interference from artists
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Businesses being outsourced
One of the major trends emerging in the market is the outsourcing of the business segment by vendors. The majority of the budget is apportioned to the cost of labor. This can often be the difference amongst vendor's market capitalization. Vendors like the Moving Picture Company out-source their business regularly.
“The countries to which vendors outsource their business activities depend on the incentives those countries and their respective governments provide. In countries like India and China the labor cost is low, and in countries like Canada, UK, and New Zealand, tax incentives are high. However, vendors will have to ensure timely delivery without compromising on the quality of work,” according to Ujjwal.
Growth of AR and VR market
The Augmented Reality (AR) and Virtual Reality (VR) will penetrate the animation and VFX space, and post-production studios will receive a higher number of projects in line with the latest technologies. Since 2014, movie producers and marketers have been launching a 360-degree VR video, showcasing the various sets and effects used in the movies.
The user base of the global virtual reality market has crossed 11 million, growing at a rate of 20% since 2015. The number of users will increase significantly in the future. The major factor for that is the increasing number of industries adopting virtual reality in the movies and TV series segment.
Less interference from artists
A decade ago, the artists in the industry were generally aware of the underlying technology required to make a film. The contribution of the artist was significantly more than their designated role. However, the modern-day artists are often less technically knowledgeable about the sophisticated technologies used in post-production. Post-production technology requires specialized skills. Hence, the artists give the post-production team the freedom to work creatively.
The key vendors are as follows:
- Blue Sky Studios
- DreamWorks Animation
- INDUSTRIAL LIGHT & MAGIC
- Walt Disney Animation Studios
Browse Related Reports:
- Global Business Travel Market 2017-2021
- Global Content Marketing Market 2017-2021
- Global Licensed Merchandise Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.