Camera Tracking Software Market is expected to reach US$ 734.1 Mn by 2028

Growing VFX Industry in Developing Countries to Provide Growth Opportunities for Camera Tracking Software Market Players during 2021–2028

According to our latest market study on “Camera Tracking Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by component and tracking type,” the market was valued at US$ 286.8 million in 2020 and is projected to reach US$ 734.1 million by 2028; it is expected to grow at a CAGR of 12.9% from 2021 to 2028.

Since the last 2–3 years, the animation and video effects (VFX) industry has witnessed steady growth in developing countries, including India, and these industries have grown further with the introduction of YouTube channels. Broadcasters are partnering with animation studios such as Nick and Sonic for original content. Moreover over the top (OTT) platforms such as Amazon Prime and Netflix are signing exclusive content licensing deals with various animation and VFX studios. Further, VFX got an additional boost with the developments in broadband and e-commerce, and licensing and merchandising opportunities related to animation characters. In India, the VFX industry is growing significantly with transformation in content consumption pattern; there is a growing demand for cinema with extravagant VFX effects among the audiences in the country. To meet these demands effectively, many production houses such as the Red Chilies Entertainment, Yash Raj Films, and UTV Motion Pictures have set up technical teams dedicated to enhancing the VFX in their movies. As a result of the efforts of these teams, Indian audiences have enjoyed films such as Krrish, Philauri, Bhag Milkha Bhag, and Tumbad in the past. Further, state governments of the country have also been promoting the VFX industry by allocating resources. For instance, Maharashtra (a state in India) government has allocated land for setting up National Centre of Excellence for Animation, VFX, Gaming and Comics. Similarly, Karnataka has designed a policy to include digital art education in curricula of certain fine arts schools. Such initiatives in various developing countries are boosting the VFX industry, which is likely to propel the camera tracking market growth in the coming years.

The camera tracking software market is segmented on the bases of component, tracking type, and geography. Based on component, the market is segmented into software and services. In 2020, software segment accounted for a larger market share. In terms of tracking type, the market is bifurcated into still tracking and sequence tracking. In 2020, still tracking segment accounted for a larger share in the market. In terms of geography, the global camera tracking software market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the camera tracking software market.

Impact of COVID-19 Pandemic on Camera Tracking Software Market

The US has reported the highest number of COVID-19 cases in North America, and the count has reached more than 20 million as of 2021; California, Texas, Florida, and New York are among the highly affected areas. The federal government in the country did not impose nationwide lockdown in 2020; however, governors of few sates decided to impose lockdown in their respective states, which led to the disruption of operations of various sectors, including manufacturing, IT, and media and entertainment. Production houses had to put a halt on several big film projects amid this scenario, as different locations were restricted for shooting films and TV shows. Moreover, cinema halls were shut down due to bankruptcy. In the US, ~2,500 cinemas were shut down to avoid public gatherings. As a result, the businesses related to filmmaking, such as shooting equipment, sound equipment, editing software, and special effect software, as well as services, experienced slump in growth. However, with the easing of lockdown conditions and organization of mass vaccination drives in late 2020, the production and shooting of film/TV shows resumed gradually in 2021.As a result, the media and entertainment sector, as well as the camera tracking market, in North America is likely to recover in the coming months.

Andersson Technologies LLC; The Foundry Visionmongers Limited; Ncam; Adobe; Science-D-Visions; BORIS FX, INC; Maxon Computer GmbH; Autodesk, Inc; Blackmagic Design Pty. Ltd; and Vicon Motion Systems Ltd are among the major companies operating in the camera tracking software market.

Camera Tracking Software Market — by Geography

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Camera Tracking Software Market to Grow at a CAGR of 12.9% to reach US$ 734.1 Mn Million from 2021 to 2028

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Camera Tracking Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Services) and Tracking Type (Still Tracking, Sequence Tracking)

The report segments the global camera tracking software market as follows:

By Component

• Software
• Services

By power Output

• Still tracking
• Sequence tracking

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM