Animation Market Size, Share, Growth, and Industry Analysis, By Type (Animation, Caricature, Other), By Application (Clothes, Toys, Electronic Games, Film and Television, Other), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

ANIMATION MARKET REPORT OVERVIEW

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The global animation market size was USD 263.9 million in 2020 and the market is projected to touch USD 519.6 million by 2027, exhibiting a CAGR of 9.7% during the forecast period.

Animation is a way of photographing sequential drawings, models or even puppets to create the illusion of sequential movement. Animation creates a simulation of the motion created by a sequence of images. Animation involves the use and manipulation of still images to create the illusion of motion. Animation enables storytelling in unique ways. Animation is important because it allows stories to be told and feelings and ideas to be conveyed in a unique, easy-to-understand way for both young children and adults. Animation helps connect people around the world in a way that writing and live-action movies sometimes can't. Animated films attract a wide audience.

Growing demand for high-definition (HD) materials, especially video marketing, is expected to boost the market. HD content has a higher resolution, significantly higher pixels and better content quality compared to standard definition. Over the next few years, the market is likely to be driven by the growing demand for animation software in the medical and research fields, as well as the growing demand for animation in the entertainment and gaming industries.

COVID-19 Impact: Positive Effect Of Development Of Organizational Collaboration And Communication On Markets

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Due to the outbreak of COVID-19, several countries implemented strict lockdowns, closures and other transport restrictions to prevent the spread of the virus. As the adoption of marketing animation video production has evolved into organizational communication and collaboration, the positive impact of the marketing animation video production market could be seen. In addition, the epidemic affected global business operations and employee productivity. As a result, the use of advertising video solutions and services was of great help during the pandemic, which contributed favorably to the expansion of the market.

LATEST TRENDS

"Growing Virtual Animation Film Programs Drive Market Growth"

A top animator at a top animation company (like Pixar, Dream Works or Disney Animation) can only animate 2 seconds of film per week. The fact that the process is extremely time consuming explains why these films often cost hundreds of millions or more. Most of this work is not creative in nature. It animates the character and moves in space and maps how the character reacts to its environment. A good animator can spend a week on something as simple as a character reaching for a set of keys. The technology interacts with motion capture techniques used in every important film, an integral part of virtual production. The movement of performers walking on stage in suits covered in polka dots is recorded and translated in a form suitable for a visual effects artist.

ANIMATION MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Animation, Caricature, Other.

• The concept of animation is the conversion of two-dimensional (2D) and three-dimensional (3D) images into moving images.
• Some common synonyms for caricature are burlesque, parody and parody. Although all these words mean "comic or grotesque imitation" and caricature means a ridiculous exaggeration of the subject's features. caricatures of politicians in cartoons.

By Application

Based on application the global market can be categorized into Clothes, Toys, Electronic Games, Film and Television, Other.

• Animation is the art and science of making pictures or images appear to move. Animated clothes and toys in TV shows are popular forms of entertainment for children.
• With the advancement of technology and software, game developers can now create very complex and visually stunning animations. By animating each element, designers can evoke emotions in players, whether it's a thrilling chase or heartbreaking sadness for a character and loss.
• Film and TV shows use VFX and 3D animations in VR film to give them extraordinary experiences with immersive and interactive storytelling in a 360-degree environment.

DRIVING FACTORS

"Growing Adoption Of Cloud Technology By Animation Content Producers to Fuel Market Expansion"

The continuous adoption of cloud technology by animation content producers is expected to accelerate the market growth. The animation industry benefits from cloud services that provide scalable and demanding computing resources. Using cloud-based animation services is easy, simple and provides computing power. For example, ESDIP Animation Studio chose Simple Cloud as its virtual desktop solution, which enables remote collaboration and brings together artists from different parts of the world to realize their animated short films.

"Animated Movies And Daily Soaps Are On The Rise to Foster Market Growth"

Animated content is growing at a healthy pace around the world, which has led to an increase in broadcasters' interest in launching animated series and strong demand for children's daily soaps, which has boosted launches. of new daily soaps. Thus, the growing trend of animated movies and daily soaps is the main driver for the global animation market growth.

RESTRAINING FACTORS

"Lack Of Government Support And Lack Of Qualified Professionals to Hamper Market Growth"

Inadequate government support affects the growth of animation worldwide. Animation between different countries does not receive funding from the government, which affects the production of a large part of animation films because the initial investments have not been made. The state also does not offer tax incentives and contracts. Rapid technical developments and innovations in the media and entertainment industry make it difficult to adapt the skills of employees, workers and employees to the needs of growing and technologically updated companies. This creates a qualification between workers and employers. Skilled workers with the necessary qualifications are in short supply as technology is updated every day.

ANIMATION MARKET REGIONAL INSIGHTS

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"The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

"North America to Dominate The Market Due To Use Of Animation In Various End-Use Applications"

North America occupies the largest animation market share due to the growth of the use of animation in various end-use applications, the presence of major companies in North America and the business plans of major players in the countries. The North America region is likely to list a significant CAGR as the demand for animation increases in developing economies due to growing preference for the automotive industry. Also, most of the companies operating in the market are striving to gain a modest advantage in the North America animation market. In addition, growth in Latin America and the Middle East and Africa regions is likely to be moderate in the near future.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The animation market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Disney (U.S.)

• Dreamworks Studios (U.S.)

• Blue Sky Studios (U.S.)

• Studioghibli (Japan)

• Bones

• Sunrise

• Gainax (Japan)

• Gonzo (U.S.)

• Warner Bros. Entertainment, Inc (U.S.)

• Akom (U.S.)

• Vooz Club (South Korea)

• The Walt Disney company (U.S.)

• Dreamworks Animation Animation Skg, Inc (U.S.)

• Toei Animation Co (Japan)

• Shanda Games Ltd (U.S.)

• Global Digital Creations Holdings (U.K.)

INDUSTRIAL DEVELOPMENT

July 2021: Adobe has partnered with Blender to develop new plug-ins and funding for the 3D industry to ensure products like Mixamo and Substance 3D are available to as many consumers as possible.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.