
Animation Market Size To Reach Around USD 895.71 Billion By 2034
By Region | 2021 | 2022 | 2023 | 2024 |
North America | 126.79 | 133.14 | 140.17 | 148.18 |
Europe | 107.75 | 112.82 | 118.44 | 124.85 |
Asia Pacific | 89.60 | 94.68 | 100.31 | 106.70 |
LAMEA | 49.98 | 51.91 | 54.05 | 56.50 |
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Product Type Insights
The 3D animation segment dominated the global animation market in 2023. Advantages of 3D animation include realism, flexibility, sense of volume and depth, real-time interactive features, savings on finances and time, better storytelling, prototyping and previsualization, simulation and visualization, and efficient editing and post-production. The 3D animation technique is widely used in the advertising sector, as it provides detailed visuals about the product. Several sectors, such as filmmaking, advertising, engineering, science, manufacturing, architecture, and education, leverage 3D animation. The rising adoption of streaming services and the demand for 3D animated movies further contributed to segmental growth.
Industry Insights
The media and entertainment industry segment dominated the market in 2023, accounting for the largest share of the market. This is due to the rapid expansion of the media industry and the increasing emphasis on social media marketing strategy among businesses. Integrating animation in social media posts enhanced audience engagement, increased brand awareness, and improved storytelling capabilities. Moreover, the increasing demand for animated content, such as animated cartoons and series, encourages market players to capitalize on this trend and hold a large market share.
According to a Vidico report, Disney, one of the leading players in the animation industry, accounts for 25% of global animated content consumption.
Animation Market Revenue, By Industry, 2021-2024 (US$ Bn)
By Industry | 2021 | 2022 | 2023 | 2024 |
Media and Entertainment | 110.83 | 116.48 | 122.86 | 130.13 |
Education | 69.21 | 72.78 | 76.63 | 81.02 |
Retail | 45.27 | 47.18 | 49.48 | 52.10 |
Healthcare | 30.43 | 31.83 | 33.34 | 35.06 |
Manufacturing | 17.88 | 19.08 | 20.28 | 21.64 |
Gaming | 100.50 | 105.19 | 110.37 | 116.29 |
Animation Market Dynamics
Driver
Technological advancements and the expansion of the gaming industry
Revolutionary advances in computer graphics, hardware, and rendering software have transformed the animation industry, leading to more realistic and attractive images than ever before. Artificial intelligence is helpful in animation production, such as virtual scene creation and character animation, and enhances the overall process. It has the potential to transform the creative process by generating realistic visuals and characters. With the rise of mobile and cloud gaming, animated content providers are making efforts to reach a wider audience base. As a result of advancements in animation creation, high-quality animated content is highly sought after, thus driving the market.
Restraint
Technical complexity and time-consuming process
Creating even a short, animated clip requires a lot of time and effort. This is due to the technical complexity and resources involved, including powerful hardware and sophisticated software solutions. Therefore, hardware failure, software updates, or other technical problems often affect project workflows. Thus, time-consuming processes and technical glitches arise during creation, which may hamper the market.
Opportunity
Increased adoption of cloud computing
The advent of cloud computing revolutionized the animation industry. Cloud solution enables content creators to use vast computing resources available in the cloud to create magnificent visuals without the need for expensive on-premises infrastructure. As a result, animators, designers, and other specialists can work together from remote locations, thus improving performance and creativity. Furthermore, cloud solution allows content creators to securely store large files, thus reducing the need for storage devices and costs.
Related Reports
- Anime Market - The global anime market size is projected to reach around USD 48.3 billion by 2030 and it is growing at a CAGR of 7.9% from 2021 to 2030. Medical Animation Market - The global medical animation market size is expected to reach around USD 2,080.50 million by 2033 and it is registering at a CAGR of 19.19% from 2024 to 2033. Animation Software Market - The global animation software market size is expected to reach around USD 205.38 billion by 2034 and growing at a CAGR of 3.41% from 2024 to 2034.
Recent Developments
- In September 2024, Crunchyroll announced that tickets for the idol-driven, coming-of-age film Trapezium are now on sale, and unveiled the official trailer for audiences in the U.S. and Canada. In September 2024, Winking Studios launched a text-to-animation tool for film, TV, and gaming. The tool allows users to generate precise animations using simple or complex text prompts. In August 2024, the government of Madhya Pradesh, headed by Chief Minister Dr. Mohan Yadav, unveiled a new policy to stimulate the state's animation, visual effects, gaming, comics, and extended reality (AVGC-XR) industry. In July 2024, a free, ad-supported second localized 24/7 linear FAST channel for Car City Adventures was launched by Amuse Animation studio on Rakuten TV. In March 2024, Maya Digital Studios, a pioneer in India's animation and visual effects, launched a 2D animation department with advanced technology and facilities.
Animation Market Companies
- SideFX Adobe Broadcast2World, Inc Triggerfish Studios Smith Micro Software, Inc. Animation Sharks IdeaRocket EIAS3D NewTek, Inc BRAFTON Corel Corporation Autodesk Inc. Videocaddy Maxon Computer WinBizSolutionsIndia
Major Market Segments Covered:
By Product Type
- 2D Animation
- Software hardware Services
- Software hardware Services
- Software hardware Services
- Software hardware Services
By Industry
- Direct Education Media and Entertainment Aerospace and Defense Manufacturing Automotive Healthcare Others
By Region
- North America
- U.S. Canada
- Germany UK France Italy Spain Sweden Denmark Norway
- China Japan India South Korea Thailand
- Brazil Mexico Argentina
- South Africa UAE Saudi Arabia Kuwait
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