(Entertainment-NewsWire.com, December 12, 2018 ) The global film and video market, a part of the media industry, grew at a compound annual growth rate (CAGR) of around 3% during the historic period. The media industry showed a steady growth. The growth is mainly due to Increase in the number of television channels has significantly increased the demand for production and distribution of all types of video and film content. The rise in new commercial broadband networks and expansion of products and services of existing broadband entities has led to a significant rise in the number of television channels across all nations in the world.
In the forecast period, the global film and video market size is expected to be over $400 billion by 2021, growing at a CAGR of nearly 5%. This is expected due to increase in mobile video viewing. Mobile video viewing has increased significantly in recent years and is expected to grow. Increase in internet use and growth in smart phones are the primary reasons for this trend. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global film and video market in the future.
Virtual reality is a new technological advance in the motion picture industry. Virtual reality tries to replicate an environment either real or imagined, and simulates user presence through the user interaction with the virtual environment. It can also create sensory perceptions such as touch, smell, hearing and sight.
Major companies in the film and video market, offering virtual reality technology include Time Warner, CBS Corporation, Sony, Walt Disney, Twenty First Century Fox.
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