The Latin America, Middle East and Africa Virtual Production Market is expected to witness market growth of 17.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Virtual Production Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $150.9 million by 2031. The Argentina market is showcasing a CAGR of 18% during 2024-2031. Additionally, the UAE market would register a CAGR of 16.3% during 2024-2031.
The technology allows filmmakers to lower the need for on-set production teams and crew members by incorporating virtual background environments into live-action footage. This helps to substantially reduce the costs of video production. Moreover, technological developments in virtual production support broadcasters in enhancing their operational competence with the minimum physical presence of technicians in the broadcasting room.
AI-driven motion capture, automated VFX, and procedural generation make virtual production more accessible and efficient. AI tools help in character animation, deepfake technology, and voice synthesis. With the introduction of artificial intelligence, this technology has registered considerable developments in the quality of its computer-generated graphics.
The market is experiencing rapid growth, driven by technological advancements and increased demand for high-quality digital content. The UAE has emerged as a leading player in the MENA entertainment streaming industry, which grew by 25.5% to reach USD 5.6 billion by 2021. This exponential growth indicates a rising demand for high-quality digital content, benefiting the market. Also, Brazil’s increasing digital connectivity plays a crucial role in fostering the growth of the market. In 2023, 92.5% of Brazilian households had internet access, with notable improvements in urban and rural areas. Argentina’s Régimen de Promoción de la Economía del Conocimiento (Law No. 27,506) has established a favorable framework for software development, audiovisual production, and digital content creation. The government encourages investment in knowledge-based activities, including this type of production, by offering tax incentives, reduced employer contributions, and fiscal stability. In conclusion, the market in the UAE, Brazil, and Argentina is expanding due to rising digital entertainment demand, increasing internet penetration, and supportive government policies.
The Brazil market dominated the LAMEA Virtual Production Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $150.9 million by 2031. The Argentina market is showcasing a CAGR of 18% during 2024-2031. Additionally, the UAE market would register a CAGR of 16.3% during 2024-2031.
The technology allows filmmakers to lower the need for on-set production teams and crew members by incorporating virtual background environments into live-action footage. This helps to substantially reduce the costs of video production. Moreover, technological developments in virtual production support broadcasters in enhancing their operational competence with the minimum physical presence of technicians in the broadcasting room.
AI-driven motion capture, automated VFX, and procedural generation make virtual production more accessible and efficient. AI tools help in character animation, deepfake technology, and voice synthesis. With the introduction of artificial intelligence, this technology has registered considerable developments in the quality of its computer-generated graphics.
The market is experiencing rapid growth, driven by technological advancements and increased demand for high-quality digital content. The UAE has emerged as a leading player in the MENA entertainment streaming industry, which grew by 25.5% to reach USD 5.6 billion by 2021. This exponential growth indicates a rising demand for high-quality digital content, benefiting the market. Also, Brazil’s increasing digital connectivity plays a crucial role in fostering the growth of the market. In 2023, 92.5% of Brazilian households had internet access, with notable improvements in urban and rural areas. Argentina’s Régimen de Promoción de la Economía del Conocimiento (Law No. 27,506) has established a favorable framework for software development, audiovisual production, and digital content creation. The government encourages investment in knowledge-based activities, including this type of production, by offering tax incentives, reduced employer contributions, and fiscal stability. In conclusion, the market in the UAE, Brazil, and Argentina is expanding due to rising digital entertainment demand, increasing internet penetration, and supportive government policies.
List of Key Companies Profiled
- Adobe, Inc.
- Autodesk, Inc.
- HTC Corporation
- NVIDIA Corporation
- Epic Games, Inc.
- 360Rize
- Arashi Vision, Inc. (Insta360)
- HumanEyes Technologies, Ltd. (Vuze Camera)
- Mo-Sys Engineering, Ltd.
- Boris FX, Inc.
Market Report Segmentation
By Component
- Software
- Hardware
- Services
By Type
- Post-production
- Production
- Pre-production
By End User
- Movies
- TV Series
- Commercial Ads
- Online Videos
- Other End User
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Virtual Production Market by Component
Chapter 6. LAMEA Virtual Production Market by Type
Chapter 7. LAMEA Virtual Production Market by End User
Chapter 8. LAMEA Virtual Production Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Adobe, Inc.
- Autodesk, Inc.
- HTC Corporation
- NVIDIA Corporation
- Epic Games, Inc.
- 360Rize
- Arashi Vision, Inc. (Insta360)
- HumanEyes Technologies, Ltd. (Vuze Camera)
- Mo-Sys Engineering, Ltd.
- Boris FX, Inc.
Methodology
LOADING...
