Global Animation Market Hit USD 714.18 Bn by 2033 | CAGR: 5.6
Updated · Apr 24, 2023
Published Via 11Press: Animation is a rapidly developing industry with numerous applications and opportunities. Recent years have seen an upsurge in demand for high-quality animation due to the expanding entertainment sector – films, television series, and video games all benefiting from quality animated media content.
Global Animation Market Value is Estimated at USD 414.16 Bn in 2023 and Projected To Reach USD 714.18 Bn by 2033 with CAGR 5.6%. This trend can be attributed to the rising popularity of animated content, advancements in animation technology and rising usage across various industries such as advertising, education and healthcare.
The animation industry can be divided into several subcategories, such as 2D animation, 3D animation, stop-motion animation and motion graphics. Of these categories, 3D animation accounts for over 50% of total revenue generated within this industry.
North America is currently the leading region for animation production and consumption, with the US playing an outsized role in driving this growth. Asia Pacific should see substantial expansion over the coming years as demand for animated content increases in countries like China and India.
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- The global animation market is expected to experience substantial expansion over the coming years due to increasing demand for animated content across numerous industries.
- The animation industry can be divided into various subcategories, such as 2D animation, 3D animation, stop-motion animation and motion graphics – with 3D being the dominant category.
- North America is currently the dominant regional market, with the US playing a crucial role in driving the growth of this industry. Asia Pacific is projected to experience exponential expansion over time.
- The animation market is highly competitive, with major companies such as Disney, Warner Bros., DreamWorks Animation and Pixar dominating it.
- Industry innovators are continually devising new technologies to produce more realistic and engaging animated content.
- Animation is used across numerous industries, from entertainment to advertising, education, healthcare and gaming – just to name a few.
- Video gaming’s popularity has created an increase in demand for animated content within the gaming industry.
- The COVID-19 pandemic has led to rapid expansion in the animation market as more people remain at home and consume digital content.
- Animation marketing and advertising have become more prevalent, as businesses use animated content to engage customers while also promoting their products or services.
- North America is the largest regional market for animation, with the United States serving as its hub. Here you will find several prominent animation studios such as Disney, Warner Bros., DreamWorks Animation and Pixar that all contribute significantly to industry expansion. Increasing demand for high-quality animated content driven by movies, television programs and video games provides ample demand.
- Europe is another significant market for animation, with France, Germany, and the UK playing key roles in driving its growth. Europe boasts an established tradition in animation studios as well as an active independent scene that helps drive demand for animation there. Animation’s appeal lies both with entertainment providers as well as advertising agencies using its services in advertising campaigns and marketing promotions.
- Asia Pacific is a rapidly developing market for animation, with countries like China, Japan and India leading the charge. The region’s growing population has driven demand for high-quality animated content across various industries; China in particular has emerged as a significant force on the international animation market with domestic studios becoming successful internationally.
- Middle East and Africa represent a relatively small regional market for animation, yet are expected to experience rapid expansion over time. Demand is being fuelled by both an expanding entertainment industry as well as increasing use of animated ads in advertising and marketing strategies.
- Latin America is another small but expanding market for animation, led by Brazil, Mexico and Argentina. Demand is driven by both growth of entertainment industries as well as the increasing use of animation in advertising and marketing activities.
- Rising demand for animated content: With the growing popularity of animated films, TV shows, and video games comes an ever-increasing demand for top-quality animated material – leading to an increase in animation projects and an urgent need for skilled animators.
- Technological Advancements: Advances in animation techniques such as computer-generated imagery (CGI) and virtual reality (VR) allow animators to produce more realistic and captivating animated content more efficiently, driving the market growth. This has allowed more animators to produce high-quality animated material more efficiently, helping fuel market expansion.
- Expanding into new industries: Animation is rapidly being adopted into industries other than traditional entertainment, such as advertising, education, healthcare and architecture – opening up new opportunities for animators while further expanding the animation market. This trend creates greater economic benefits as it drives innovation within this booming field.
- Video Gaming Industry’s Rapid Expansion: Video game industry growth is driving animation market development and creating many opportunities for animators. High-quality animated content in video games drives this growth while creating new work for animators.
- Digital Platforms and Streaming Services: The proliferation of digital platforms and streaming services such as Netflix, Amazon Prime Video and Disney+ has significantly fueled growth of the animation market by fuelling increased demand for high-quality animated content. Platforms such as these invest heavily in original animated programming to attract and retain subscribers.
- Globalization: As the animation market expands internationally, more animators and studios operate across various regions and countries, opening up opportunities for animators as well as driving industry growth overall.
- COVID-19 Pandemic: The COVID-19 pandemic has spurred rapid expansion of the animation market by spurring increased digital content consumption among those staying home sick with COVID. As more people stay at home sick due to COVID, demand has skyrocketed, driving production and consumption of animated content forward exponentially.
- High Production Costs: Animation production can be costly, especially when creating high-quality content that requires an army of specialized professionals and expensive software/hardware solutions. This can act as an entry barrier for newcomers entering the market and limit studio expansion plans.
- Shortage of Skilled Talent: There is currently a shortage of skilled animators available for 3D animation projects – the main segment in the market. This shortage can lead to delays and increased costs as companies compete over an increasingly limited pool of talent.
- Competition from Other Forms of Entertainment: The animation market is facing increasing competition from other forms of entertainment such as live-action films, TV shows and video games that may affect its growth by decreasing demand for animated content. Opportunity
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- Competition in Animation Market: With major studios and independent animators competing for market share, it can be hard for smaller studios to gain any traction; thus limiting growth within the overall animation market.
- Consumer Preferences Can Shift Rapidly: Consumer tastes can rapidly shift, creating challenges for studios reliant on successful franchises or IP. Staying abreast with changes can be costly for smaller studios.
- Piracy and copyright Infringement: Piracy and copyright Infringement continue to present major challenges to the animation market, leading to lost revenues and making it more difficult for studios to recoup production costs.
- Distribution Channels: While digital platforms and streaming services have created new distribution channels for animated content, access may still be limited for smaller studios, making it more challenging for independent animators to reach a wider audience and potentially impeding the market’s development overall.
- As previously discussed, animation production can be costly. This may create difficulty for studios who do not have access to sufficient funds for investing in equipment and talent, especially smaller studios without as many resources available to invest.
- Limited Access to Funding: Independent animators and smaller studios often struggle with accessing enough funding. Without it, producing high-quality content becomes much harder – as well as slowing the overall expansion of the market as a whole.
- Technological Challenges: Although advances in animation technology have simplified production of high-quality content creation, technological hurdles still arise. Technical glitches or software bugs may cause delays to production and increase costs; moreover, as technology changes studios must invest in new equipment and software to stay competitive.
- Stop Motion
- Flipbook Animation
- 2D Animation
- 3D Animation
- Media & Entertainment
- Online Education
- Adobe Systems Incorporated
- Autodesk, Inc.
- Autodesk Media and Entertainment
- Caligari Corporation
- Corel Corporation
- Corus Entertainment, Inc.
- Toon Boom Animation, Inc.
- Digimania Ltd.
- Electric Image, Inc.
- MAGIX Software GmbH
- Xara Group Limited
- MAXON Computer GmbH
- NaturalPoint, Inc.
- NewTek, Inc.
- NVIDIA Corporation
- PhaseSpace, Inc.
- Pixar, Inc.
- Planetside Software LLC
|Market size value in 2023||USD 414.16 Bn|
|Revenue forecast by 2033||USD 714.18 Bn|
|Growth Rate||CAGR of 5.6%|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World|
|Short-Term Projection Year||2028|
|Long-Term Projected Year||2033|
- Virtual production: Virtual production is an evolving trend in animation that involves using virtual reality and real-time rendering to produce animated content more efficiently and creatively than traditional methods. Animators using this technology can now produce top-quality animated work more quickly while maintaining maximum creative control over each piece they create.
- Increased Demand for Animation in Video Games: The video gaming industry is experiencing rapid expansion and is quickly becoming one of the primary drivers for animation market growth. Demand for high-quality animated content within games is spurring this sector’s development while offering opportunities for animators.
- Streaming services investing in animated content: Netflix, Amazon Prime Video and Disney+ have made large investments in original animated programming to attract and retain subscribers, creating opportunities for studios and animators as well as driving the growth of the animation market.
- Advances in Motion Capture Technology: Innovations in motion capture technology have revolutionized animation creation by making realistic animation easier to achieve by recording real actors’ movements and applying them to animated characters. This technology can now be found across films, video games and other industries driving the growth of the animation market.
- Increased use of animation in advertising and marketing: Businesses are turning increasingly to animation in marketing and advertising for engagement with their target customers and product promotion, opening up opportunities for animators while driving growth within the animation market. This trend has created new jobs for animators as well as driving growth of this sector of industry.
- Increased Focus on Diversity and Inclusion: In recent years, studios and animators in the animation industry have taken great strides to increase diversity and inclusion within their work by producing more representative material of diverse cultures and communities. This trend is creating new opportunities for animators as well as fuelling growth of the market for animation.
- Independent animation studios: Digital platforms and streaming services have opened up doors for independent animators and smaller studios to reach a wider audience, thus fueling market expansion by increasing diversity of content available and offering fresh opportunities for talented animators.
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