Global Market Size & Growth
According to a report by Mordor Intelligence, the global VFX market size was valued at USD 13.5 billion in 2020 and is expected to reach USD 24.7 billion by 2026, at a CAGR of 9.2% over the forecast period (2021-2026)
Indian Market Size & Growth
I found a report by KPMG India that says the Indian VFX industry is expected to grow at a CAGR of 17.2% between 2021 and 2026. The report also states that the Indian VFX industry was valued at INR 67.9 billion in 2020 and is expected to reach INR 151.3 billion by 2026.
So in conclusion industry is growing a very fast pace.
But contrary to popular belief Phantom was not the principal company which did VFX in “RRR”. 18 vfx studios created vfx effects for “RRR”
Also, Makuta VFX which is based out of Hyderabad was chosen as principal visual effects studio and was responsible for more than 50% of the computer-generated imagery in the ‘Bahubali’.
Also very big and well funded players are competing with the company. Incomplete list of competition -
Prime focus
Tata Elxsi
Red Chillies
DNEG India
Anibrain
Makuta vfx
Prana studio
Disclosure - Not invested. I don’t know how many players can survive and compete in the industry. Is there some space for non-specialised, small time shops like Phantom? But the space is very interesting and watching.
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