Report : Asia Pacific Camera Tracking Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Software and Services) and Tracking Type (Still Tracking and Sequence Tracking)
Services Segment is Expected to be Fastest Growing During Forecast Period for APAC Region
According to a new market research study on “APAC Camera Tracking Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component and Tracking Type” is expected to reach US$ 243.68 million by 2028 from US$ 95.03 million in 2021. The market is estimated to grow at a CAGR of 14.4% from 2021 to 2028. The report provides trends prevailing in the APAC camera tracking software market along with the drivers and restraints pertaining to the market growth. Burgeoning VFX industry and mounting use of artificial intelligence technology are the major factor driving the growth of the APAC camera tracking software market. However, open-source software availability hinders the growth of APAC camera tracking software market.
In case of COVID-19, APAC is highly affected specially India. APAC constitutes a few of the world’s two most populated countries. Moreover, several countries in the region, namely India and China, are hub for manufacturing. China virtually imposed strict lockdown and social isolation, which almost halted the manufacturing and production for several weeks. Moreover, the country also suspended the import as well as export of critical raw materials and components, which resulted in the disruption of the global supply chains in early 2020. India also imposed a nationwide lockdown to slow down the infection spread. The shutdown and disruption of commercial activities across China and India contributed to the disruption of supply chain of various raw material and goods as well as to the shortage of skilled laborers. In addition, the cancellation or discontinuation of various big film projects led to huge losses to the media and entertainment industry. In India, big film releases were postponed, TV and web series shootings were halted, theatres stopped screening movies, and daily wage employees were struggling for their meal. As of May 2021, India is suffering from the second wave of the pandemic, and many states are under strict lockdown. However, other countries in APAC, particularly China and South Korea, have started recovering slowly and steadily.
The APAC camera tracking software market is segmented on the basis of component, tracking type, and country. Based on component, the APAC camera tracking software market is segmented into software and services. The software segment dominated the APAC camera tracking software market in 2020 and services segment is expected to be fastest growing during forecast period. Based on tracking type, the APAC camera tracking software market is categorized as still tracking and sequence tracking. The sill tracking segment dominated the APAC camera tracking software market in 2020 and sequence tracking segment is expected to be fastest growing during forecast period
Adobe; Andersson Technologies LLC; Autodesk, Inc.; Blackmagic Design Pty. Ltd.; Maxon Computer GmbH; The Foundry Visionmongers Limited; and Vicon Motion Systems Ltd are among the leading companies in the APAC camera tracking software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Autodesk Completes Acquisition of AI-Powered Software Provider Pype.
The Report Segments the APAC Camera Tracking Software Market as Follows:
APAC Camera Tracking Software Market – By Component
APAC Camera Tracking Software Market – By Tracking Type
- Still Tracking
- Sequence Tracking
APAC Camera Tracking Software Market – By Country
- South Korea
- Rest of APAC
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