Animation, VFX & Game Market Size, Share, Growth, and Industry Growth, By Type (Animation & VFX and Game & VFX), By Application (Anime, Film, and Video Game), Regional Insights, and Forecast From 2023 To 2031

Updated On: 11 September 2023

Animation, VFX & Game Market REPORT OVERVIEW

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The global animation, VFX & game market size is expected to be USD 442960 million in 2021 and the market is projected to touch USD 593962.69 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.0% during the forecast period.

Animation is the display of static images that creates an illusion of motion. The stimulation created by a series of pictures is called animation. It is a process of designing, drawing, preparing layouts, and preparation of sequences that are integrated with gaming products. Visual effects (VFX) is a process through which digital art is combined with traditional art to create something that are not characters or objects. It can create explosive and enthralling experiences. It is used in movies and video games with the purpose to keep users engaged and involved.

Emerging demand for animation, VFX & game is growing owing to the rise in the adoption of visual technology. Preference for realistic images, films, and games is expected to drive the demand for visual technology services. Consumers’ experience in gaming has given rise to 3D gaming with the help of 3D animation technology which is expected to increase the demand for services. which is estimated to enable and create lucrative opportunities during the forecast period.

COVID-19 Impact: Use of Animation of Medical Industry to Hinder Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global animation, VFX & game market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The demand for animation surged during the pandemic in the medical industry during the pandemic. The demand was also propelled due to preference for media and entertainment due to the trend for watching OTT platforms. On the contrary, due to social distancing rules and regulations impacted production of new content which affected the demand for animation, VFX & game.

LATEST TRENDS

"Increasing Preference for 3D Animation and VFX to Enhance Market Development"

The global animation, VFX & game market growth is projected to grow owing to adoption of advanced visual effect technology. Surge in 3D technology has led to the rise in HD content that has a high number of pixels and better quality of content. Rise in the demand for 3D animation software technology in medical, gaming, entertainment, and research fields. This technology is expected to boost video marketing significantly. Integration of virtual reality technologies for visual effects which is anticipated to increase the preference for new and advanced tools. Surge in the use and applications of 3D mobile applications is expected to drive the market growth. Such increase in the use of 3D technology for visual effects and animation is expected to pose an opportunity for market growth for animation, VFX & game during the forecast period.

Animation, VFX & Game Market SEGMENTATION

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• By Type

Based on type; the market is divided into Animation & VFX and Game & VFX.

Animation & VFX is expected to be the leading part of the application segment.  

• By Application

Based on application; the market is divided into anime, film, and video game.

DRIVING FACTORS

"Increasing Adoption of Video Streaming Services to Propel Market Growth "

One of the primary driving factors of the global animation, VFX & game market growth is anticipated to be increasing demand and preference for video streaming services. Expanding inclination for quality video content and quality to create subscriptions for various video content platforms. Video content platforms such as Netflix, Amazon Prime, Hotstar, Hulu, Peacock, and many others have gained millions of subscribers for their content and VFX. Films, games, TV series, and documentaries have enhanced quality VFX and animation. Movie studios are also incorporating such animation and VFX-based films. Such growing demand for the services is anticipated to provide profitable opportunities for the market.

"Various Applications of the Service to Inflate Market Progress"

Animation, VFX & game is used in various industries and has various applications. It is used in various industries such as healthcare, life sciences, education, academic, media, entertainment, and other industries. Use of visual effects and technologies for higher quality of content in entertainment industry primarily and other industries as well. Growth in the market is aided by use of visual technology in mobile applications, gaming, and movies. Such growing demand for activities is expected to create demand for boats and ships and also to surge demand for lifts that are used in lifting boats.     

RESTRAINING FACTORS

"Concerns Regarding Piracy to Hamper Market Growth"

There are a number of factors that can propel the growth of the animation, VFX & game market. Restraining factors such as concerns regarding piracy and high costs of visual technology. Growing preferences for renting movies from streaming online movies and videos can also hamper market growth. Such concerns regarding the services are anticipated to restrict and limit the market growth.   

Animation, VFX & Game Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Share Owing to Increasing Investments in Visual Technologies"

Asia Pacific holds the largest part in the global animation, VFX & game market share owing to increased investments in animation and VFX technologies. Investments from countries such as China, Japan, and South Korea are expected to drive market growth in the region. The market is expected to continue to expand due to the enlargement of the entertainment industry in the region. Fondness and inclination of visually pleasing animation games, movies, and TV series is projected to create demand for the services. Rising penetration of animation technology to propel the growth in the region.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Tencent (China)
• Sony (Japan)
• Activision Blizzard (U.S.)
• Microsoft (U.S.)
• Nintendo (Japan)
• Netease (China)
• Walt Disney Animation Studios (U.S.)
• NBCUniversal (U.S.)
• Warner Bros. (U.S.)
• Framestore (U.K.)
• TOEI ANIMATION (Japan)

INDUSTRIAL DEVELOPMENT

June 2022: SK Telecom, a South-Korean mobile carrier has opened visual effects (VFX) to heighten its content creation and production capabilities. The studio will feature two LED wall stages that can create realistic graphics.   

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.