19 June 2019, The global post-production market is subject to witness a substantial growth due to the emergence of digital transformation in the media sector. Digitalization is considered as major trend driving the growth of the market over the forecast period. Digital transformation in the media sector has led to incorporation and variation of new business and operating models, thus creating a joint, multi-functional and an on-the-demand digital platform.
Above-mentioned factors are expected to drive the growth of the market over the forecast period. Globally, the market is predicted to grow at a CAGR of 7.94%, providing numerous opportunities for market players to invest for research and development in the post-production market.
Increasing penetration of modern technologies such as Internet Protocol Television (IPTV) across the globe and online streaming services are expected to boost market growth in the upcoming years. Increasing focus towards adoption of the cost-effective delivery solution such as High Definition (HD) content by various service operators across the globe is expected to fuel the growth of post-production market in the near future.
Introduction number of online streaming services such as Netflix, Amazon Prime and Hulu are changing overall perspective of watching television. Such services are offering commercial content to user while charging on monthly basis. Moreover, easy availability of DVR services allows users to skip commercials, thus contributing significantly to market growth over the forecast period.
Large number of post-production services are driven by film production budgets in North America region. However, low profit margins, slow growth and higher operational cost are restraining market growth to a certain extent. Yet, advent of technologies such as 2D to 3D conversion services and VFX (Visual effects) services are anticipated to fuel market demand for post-production services over the next seven years.
The market is broadly categorized into four major segments based on the end-user application type such as movies, television, commercials and online streaming services. The television sector is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of post-production services in the television segment is attributed to the large consumer base and higher market penetration. The online streaming services segment has also witnessed substantial growth owing to the availability of commercial content to user while charging on monthly basis.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in media sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the post-production market with massive growth in forecast period. Countries such as India, China, Malaysia, Indonesia, South Korea and Singapore are leading the Asia-Pacific market with increasing number of 3D screens, presence of large consumer base, rising personal disposable income and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the post-production market are Twenty-First Century Fox, Inc., AT&T, Inc., Rocket Science Ltd., Comcast Co., Prime Focus Technologies Ltd., and The Walt Disney Company.
Browse Related Category Market Reports @