Filming Equipment and Software

Chronicle

2023: Global Film Special Effects Hardware and Software Market Size Reaches $138.7 Million

At the end of 2023, the global market for equipment and software for special effects in cinema amounted to approximately $138.7 million. One of the drivers of the industry was the COVID-19 pandemic, as stated in a study by Omdia, the results of which were released in mid-April 2024.

We are talking about the segment of virtual cinematography. The technology assumes that actors or objects are placed in a virtual 3D space, for the modeling of which computer systems are responsible. The virtual environment allows you to create a composition from buildings, objects and characters and control the background, lighting, time of day, weather, as well as change the position and settings of video and cameras. Thus, actors can be captured in any desired setting. The approach increases flexibility, as well as the ability to reduce the cost and timing of film production.

Among the key hardware components for virtual cinematography, Omdia analysts name high-resolution LED panels and special motion tracking systems. In addition to the film industry, such equipment and software are used in other areas. These are, in particular, corporate marketing and collaboration platforms, new systems for the educational sphere, etc.

The development of the industry under consideration, as noted, is facilitated by artificial intelligence technologies. Neural networks simplify rendering, animation, and post-processing tasks. In addition, machine learning assists in predictive analytics for more efficient decision-making during production planning. According to Omdia experts, in the future the global virtual cinematography market will develop rapidly, and its volume in 2028 is expected to exceed $1.1 billion.^[1]

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