Marketing Animation Video Production Market Size, Share, Growth and Industry Analysis, By Type (Corporate/Brand Video Production, Product Video Production, Popular Science Education Videos Production and Other Videos Production), By Application (Retail, Manufacturing, Education, Financial, Medical Insurance, Music Industry, Professional Service and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Marketing Animation Video Production Market REPORT OVERVIEW

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The global marketing animation video production market size was USD 504.2 million in 2021 and market is projected to touch USD 2098.8 million by 2031, exhibiting a compound annual growth rate (CAGR) of 15.2% during the forecast period.

To expand their audience, increase conversions, and ultimately produce results, a business needs to produce marketing films. Furthermore, marketing animation video production keep viewers' attention longer, help them remember information, and encourage brand interaction. Additionally, creating marketing animation videos for firms to advertise their goods and services is a cost-effective strategy. The sales and marketing strategy of more than 80% of marketers includes marketing video material.

COVID-19 Impact: Positive Impact on the Market due to the Development of Organizational Collaboration and Communication

Several nations implemented stringent lockdowns, closures, and other transportation restrictions in response to the COVID-19 outbreak to stop the virus from spreading. As the utilization of marketing animation video production for organizational communications and collaboration developed, the market for producing marketing animation videos saw a positive effect. Additionally, the epidemic affected global company operations and worker productivity. As a result, the pandemic was greatly aided by the use of promotional video solutions and services, which had a favorable effect on market expansion.

LATEST TRENDS

"Rise in Animated Explainer Videos Utilization due to their Ability to Grab the Attention of the Target Audience "

Brands are increasingly using explanatory videos. They are a type of educational film that enables a company or organization to present details about their goods or services in a unique way. The explainer videos are frequently brief (on average 1 minute long) and allow a business to employ personalized video animations, graphics, and other techniques to make it interesting and enlightening. Depending on the target population that the marketer is trying to reach, explainer films might be straightforward or even complex. The B2B industries greatly appreciate these marketing animation video productions because of their ease to work with. Several companies from a variety of industries, including digital marketing, real estate, finance, and healthcare, use animated explainer videos to grab the attention of their target audience.

Marketing Animation Video Production Market SEGMENTATION

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• By Type

Based on type, the market is distributed into Corporate/Brand Video Production, Product Video Production, Popular Science Education Videos Production and Other Videos Production

• By Application

Based on application, the market is divided into Retail, Manufacturing, Education, Financial, Medical Insurance, Music Industry, Professional Service and Others

DRIVING FACTORS

"Use of Animation Videos to Help Explain the Company’s Business and Message to the Customers in a Short Amount of Time "

A good explainer film can help a company capture the clients' attention right away. Additionally, reaching the intended demographic requires more than just placing advertising and developing a website. With animated explainer videos, the organization may cover a lot of ground regarding their business in a short amount of time. With animated branded videos, they may help consumers comprehend their message or brand. These marketing animation video production services assist companies in telling their story to clients in an engaging way. These films contain several animated marketing formats, such as whiteboard animation, cartoon videos, instructional videos, and more, to aid businesses in forging fresh connections with their target audiences.

"Convenience of Sharing the Video and Increased Brand’s Conversion can be Achieved by Utilizing Animated Videos by the Company"

The likelihood that a firm will make a conversion increases with the length of time a visitor spends on the website. Explainer videos that are animated are excellent for promoting goods and services and communicating business concepts. Marketing animation video production encourages consumers to act quickly and increases brand conversions. Explainer videos are concise and convenient for sharing at the same time. The business might publish its animated explainer film on social media sites for marketing purposes. Additionally, a two-minute explainer film's length helps consumers watch and recall its two minutes of video content. In any case, individuals share video ed content twice as often as they do other kinds of video content.

RESTRAINING FACTORS

"Lack of Government Support and Skilled Professionals Hinders the Global Market Growth"

Lack of government backing hinders the global marketing animation video production market growth. Government support for animation is lacking internationally, which has an impact on the creation of a large number of animated movies because of low beginning investment levels. Also unavailable from the government are tax breaks and treaties. Another factor affecting the marketing animation video production market is employees, workers, and staff are finding it challenging to match their skill set with the needs of the expanding and technologically advanced enterprises due to the rapid technological breakthroughs and innovations in the media and entertainment industry. Employers and employees now have different levels of skill. Due to the rapid advancement of technology, there is a lack of qualified workers.

Marketing Animation Video Production Market REGIONAL INSIGHTS

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"North America to Lead the Market due to the Extensive IT Infrastructure and Increasing Demand for Promotional Ads in the Region"

In terms of marketing animation video production market share, North America is anticipated to continue to dominate. The U.S. and Canada are two important nations that propel the development of marketing animation video production in the area. The region's extensive IT infrastructure is responsible for the market growth for video production services. Additionally, the e-commerce sector's explosive rise has increased the demand for promotional ads, which aids e-commerce businesses in keeping clients interested for longer. Additionally, as internet usage grows, so does the popularity of short movies that simplify complex ideas and employ animation to pique viewers' interest in what a company has to offer.

KEY INDUSTRY PLAYERS

"The Major Players are Investing Heavily in R&D and Other Methods to Establish a Dominant Position in the Market"

Key businesses who conduct business on a national and worldwide level make up the highly fragmented global market for marketing animation video production. To establish a dominant position in the market, these main competitors are utilizing a variety of methods, including joint ventures, collaboration, and mergers and acquisitions. Besides this, they are also investing heavily in R&D to understand their audience better and make content which appeals to them and at the same time put out more innovative trends, further retaining their customers for long periods of time.

List of Market Players Profiled

• Framestore (U.K.)
• Epipheo Studios (U.S.)
• Switch Video (Canada)
• The Mill (U.K.)
• Digital Domain (U.S.)
• Explainify (U.S.)
• Demo Duck (U.S.)
• Wyzowl (U.K.)
• Yum Yum Videos (Buenos Aires)
• Moving Picture Company (MPC) (U.K.)
• One Media Group (Hong Kong)
• IGW (Belgium)
• Allua Limited (Hong Kong)
• Thinkmojo (U.S.)
• Sandwich Video (U.S.)
• Rip Media Group (U.S.0
• Grumo Media (Canada)

REPORT COVERAGE

This report covers the marketing animation video production market. The CAGR expected to be in during the forecast period, and also the USD value in 2023 and what it is expected to be in 2030. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.