Animation Market - Global Forecasts from 2023 to 2028

The global animation market is expected to grow at a CAGR of 5.34%, from an estimated market size of US$369.014 billion in 2021 to US$531.237 billion in 2028.

The global animation market is a rapidly growing industry that involves creating and distributing animated content for various platforms, including television, film, video games, and online streaming services. The animation industry has experienced notable growth in recent years due to the increasing demand for high-quality content by people worldwide. The global animation market is a rapidly growing industry that involves creating and distributing animated content for various platforms, including television, film, video games, and online streaming services. The animation industry has experienced notable growth in recent years due to the increasing demand for high-quality content by people worldwide.

The global animation market is driven on account of the growing demand for content animation.

The increasing demand for animation content is the key factor projected to drive the global animation market. Animation is not just for kids anymore. With the advent of streaming services, animation content is now being produced for various audiences, from children to adults. It is generally more cost-effective than live-action content because it requires fewer resources and can be made more efficiently. Animation studios can produce high-quality content with fewer people and resources, which helps to keep costs down. Animators create fantastical worlds and characters that would be impossible to create with live-action techniques, which allows for more creative storytelling and unique visual experiences.

Moreover, the growing popularity of video games is one of the driving factors behind the rising adoption of animation software solutions. The video game industry has witnessed a significant increase in recent years, with more people than ever before playing games on consoles, PCs, and mobile devices. They require a considerable amount of animation content, including character, environmental, and visual effects. With the increasing complexity and realism of video games, the demand for high-quality animation content has grown. Game developers are constantly looking for ways to enhance their game's visual appeal and gameplay, and animation is a critical component of achieving these goals. As a result, the demand for high-quality animation and visual effects in video games has increased, leading to a surge in demand for animation content.

Market Developments:

• DreamWorks Animation has produced several successful animated films in recent years, including "Shrek," "Kung Fu Panda," and "How to Train Your Dragon." In 2021, they released "The Boss Baby: Family Business," a computer-animated comedy film.
• In December 2020, CD Projekt Red, a video game developer known for its open-world games and attention to data, developed and published the action role-playing video game "Cyberpunk 2077".
• Rodeo FX discovered in May 2022 that it could expand with Microsoft Azure HPC + AI, a hybrid estate, and maintain its adaptability and agility to take on any exciting new initiatives.
• AARDMAN ANIMATIONS LTD and Greenpeace released a potent new animated short illustrating the condition of the world's oceans in January 2020. This has helped the company increase sales and diversifies its product offering.
• Cinesite acquired the majority of VFX Studio FX3X in August 2022. The addition of a strong personnel pool in production management and creative VFX supervision is a result of the acquisition. The ability of Cinesite to better and more effectively service clients globally in feature films and episodic television.

The 3D computer segment is expected to witness robust growth during the forecast period.

The global animation industry has experienced a tremendous surge in demand for 3D computer animation in recent years. Various causes have fueled this tendency, including technological developments, the rising popularity of animated films and series, and the rise of the gaming industry.

According to a journal by Limkokwing University of Creative Technology, Malaysia, in 2022, the increased need for 3D computer animation has been crucial in the movie industry's change. Computer graphics (CG) have evolved into tools for filmmakers to portray their ideas. With the great popularity of blockbuster films such as Avatar, Kung Fu Panda, Lion King, Black Panther, and Avengers, among others, the utilization of cutting-edge technology such as 3D animation and graphics has captivated a diverse audience ranging from young children to the elderly. This spike in demand for 3D computer animation has made it necessary for most film productions, reflecting its growing worldwide popularity.

North America accounted for a major share of the global animation market.

By geography, the global animation market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific.

Animation has become integral to many industries, including film, television, digital marketing, and e-learning, due to its ability to create visually compelling and engaging experiences for audiences. Moreover, technological advancements, including real-time rendering, AI and ML automation, virtual production techniques, cloud-based animation tools, 3D printing for physical props, improved animation software and hardware, increased use of motion capture, and AR/VR animations have played a significant role in driving the growth of the animation market. This has expanded the possibilities of energy in terms of visual aesthetics, storytelling, and immersive experiences, which has driven the demand for animated content. The USA animation market boasts several major players, including prominent animation studios such as Walt Disney Animation Studios, Pixar Animation Studios, DreamWorks Animation, Illumination Entertainment, and Blue-Sky Studios. These studios significantly impact the animation industry, producing popular animated films and TV shows and driving innovation in animation techniques, technologies, and storytelling.

Market Segmentation:

BY TYPE

• Traditional
• 2D Vector-Based
• 3D Computer
• Motion Graphics
• Stop Motion

BY COMPONENT

• Software
• Services

BY DEPLOYMENT MODEL

• On-Premise
• Cloud

BY INDUSTRY

• Media and Entertainment
• Education
• Retail
• Healthcare
• Manufacturing
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Taiwan
• Thailand
• Indonesia
• Others