The global animation market is expected to exhibit strong growth, reaching USD 528.8 billion by 2030. As per the report titled "Animation Market Size, Share & COVID-19 Impact Analysis, By Offerings (Software, Services), By Product Type (2D Animation, 3D Animation, Motion graphics, Stop Motion and Other), By Industry (Direct, Education, Media and Entertainment, Aerospace and Defense, Automotive, Healthcare and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 394.6 billion and USD 528.8 billion in 2030. The market is expected to exhibit a CAGR of 5.00% during the forecast period.
Greenpeace and AARDMAN ANIMATIONS LTD Released a Stirring New Animated Movie
In January 2020, a stunning new animated animation was released by AARDMAN ANIMATIONS LTD with Greenpeace to raise awareness of the state of the oceans. This recently released animated movie emphasizes the ocean catastrophe on a worldwide scale. This has aided the business in growing its revenue and expanding its product line.
Rising Number of Smartphone Users to Boost Market Growth
The market for animation has started to develop as a result of the rise in the popularity of computers and smartphones. It now plays a significant role in the entertainment industry because it allows it to tell stories and accurately describe emotions and ideas. The countries with the highest percentage of smartphone users are China, India, and the United States. Due to the present pandemic, animated material is being increasingly adopted globally via smartphone devices and internet services, which is a driving force behind the market's expansion. Additionally, most businesses present their concepts and product models using animations. The commercial use of animation improves the ability to share content, one's credibility, and the effectiveness of the engagement system.
Lack of Skilled Professionals to Limit Market Expansion
It is becoming increasingly challenging for workers, employees, and staff to match their skill set with the needs of expanding and technologically advanced organisations due to the media and entertainment sector's rapid technological developments and advancements. Due to this, there is a skills gap between the employees and the employers. Due to the rapid advancement of technology, there is a lack of qualified workers with suitable skills. The global expansion of animation is also hampered by inadequate government funding. Government support for animation is lacking internationally, which has an impact on the creation of many animated films because of a lack of initial high expenditure.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the animation market plan acquisitions to improve their brand recognition globally. For instance, in February 2020, Circle Media, a software that enables families to manage all of the connected gadgets in the home, was acquired by Smith Micro Software.
Recent Development:
Greenpeace and AARDMAN ANIMATIONS LTD Released a Stirring New Animated Movie
In January 2020, a stunning new animated animation was released by AARDMAN ANIMATIONS LTD with Greenpeace to raise awareness of the state of the oceans. This recently released animated movie emphasizes the ocean catastrophe on a worldwide scale. This has aided the business in growing its revenue and expanding its product line.
Rising Number of Smartphone Users to Boost Market Growth
The market for animation has started to develop as a result of the rise in the popularity of computers and smartphones. It now plays a significant role in the entertainment industry because it allows it to tell stories and accurately describe emotions and ideas. The countries with the highest percentage of smartphone users are China, India, and the United States. Due to the present pandemic, animated material is being increasingly adopted globally via smartphone devices and internet services, which is a driving force behind the market's expansion. Additionally, most businesses present their concepts and product models using animations. The commercial use of animation improves the ability to share content, one's credibility, and the effectiveness of the engagement system.
Lack of Skilled Professionals to Limit Market Expansion
It is becoming increasingly challenging for workers, employees, and staff to match their skill set with the needs of expanding and technologically advanced organisations due to the media and entertainment sector's rapid technological developments and advancements. Due to this, there is a skills gap between the employees and the employers. Due to the rapid advancement of technology, there is a lack of qualified workers with suitable skills. The global expansion of animation is also hampered by inadequate government funding. Government support for animation is lacking internationally, which has an impact on the creation of many animated films because of a lack of initial high expenditure.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the animation market plan acquisitions to improve their brand recognition globally. For instance, in February 2020, Circle Media, a software that enables families to manage all of the connected gadgets in the home, was acquired by Smith Micro Software.
Recent Development:
- In March 2021, Updates and development tools for iPi Motion Capture for the Unreal Engine were revealed by iPi Soft. These advancements include motion transfer to the 3D character, animation streaming into Unreal Engine, and real-time motion tracking, which enables artists to see real-time motion in action in their particular 3D surroundings and on their character in Unreal Engine.
List of Key Players Profiled in the Report
- SideFX
- Adobe
- Broadcast2World, Inc
- Smith Micro Software, Inc.
- Animation Sharks
- IdeaRocket
- Triggerfish Studios
- EIAS3D
- NewTek, Inc
- BRAFTON
- Corel Corporation
- Autodesk Inc.
- Videocaddy
- Maxon Computer
- WinBizSolutionsIndia
Further Report Findings
- The market in North America is expected to gain a huge portion of the global animation market share in the coming years due to businesses' shifting attention from traditional forms of advertising to digital offerings.
- The expansion of animated game development and the establishment of sizable animation studios in the west all point to the North American market experiencing explosive growth.
- In the Asia Pacific, the growth in this region is primarily driven by massive investments made by market players to achieve a slight advantage.
| Attributes | Details |
| Market Size in 2022 | USD 394.6 Billion |
| Market Forecast in 2030 | USD 528.8 Billion |
| Compound Annual Growth Rate | 5.00% |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Offerings, By Product Type, By Industry and By Geography |
| By Offerings |
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| By Product Type |
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| By Industry |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
