Dublin, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The "Animation Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The animation market size has grown strongly in recent years. It will grow from $355.83 billion in 2023 to $379.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The animation market size is expected to see strong growth in the next few years. It will grow to $499.57 billion in 2028 at a compound annual growth rate (CAGR) of 7%.
Revenue streams in this industry stem from diverse sources such as over-the-top (OTT) platforms, advertising, ticket sales, and other deployment methods such as on-premise and on-demand. Animation finds applications across various sectors including media and entertainment, automotive, online education, and more.
The growth observed in the historical period can be attributed to several factors, an increased preference for visual storytelling, heightened utilization in film and television productions, expanded integration into video games, heightened adoption in advertising and marketing campaigns, and enhanced application in education and training.
The anticipated growth in the forecast period can be credited to several key drivers, rising demand for animated content across various platforms, the burgeoning popularity of streaming services, the dynamic expansion of the gaming industry, increasing interest in stop-motion animation techniques, and a growing appetite for 3D animation.
Moreover, significant trends expected in the forecast period include advancements in animation technologies such as virtual reality (VR) and augmented reality (AR), innovations in computer-generated imagery (CGI), developments in motion capture technology, and improvements in real-time animation tools. These advancements are set to further enhance the capabilities and appeal of animation across industries, pushing the market towards continued expansion and innovation.
The animation market is poised for growth due to increasing demand in media and entertainment, a broad industry encompassing various forms of content creation, distribution, and consumption aimed at informing, entertaining, and engaging audiences. This rising demand is fueled by shifts in consumer behavior, content diversity, social media influence, and innovative content delivery methods. Animation plays a crucial role in enhancing the media and entertainment industry by providing creative solutions, captivating audiences, and pushing the boundaries of storytelling and visual expression. For example, in January 2024, UK spending on music streaming subscriptions, vinyl, and CDs grew significantly, demonstrating the robust growth of the entertainment market.
Leading companies in the animation sector are leveraging generative artificial intelligence (AI) to develop text-to-3D animation, aiming to streamline the creative process. This technology enables the rapid creation of personalized animations tailored to individual preferences, making animation production faster, more accessible, and cost-effective while expanding creative possibilities for animators and storytellers. For instance, in November 2023, DeepMotion, a US-based animation company, introduced MotionGPT, an AI-powered platform that transforms text inputs into detailed 3D character animations. MotionGPT utilizes advancements in natural language processing and generative AI to automatically generate realistic movements, facial expressions, and body language from textual descriptions.
North America was the largest region in the animation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The countries covered in the animation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Competitive Landscape And Company Profiles
- Sony Corporation
- Overview
- Products and Services
- Strategy
- Financial Performance
- NVIDIA Corporation
- Adobe Systems Inc.
- Autodesk Inc.
- Trimble Inc.
Animation Market Other Major And Innovative Companies
- DreamWorks Animation LLC
- Walt Disney Animation Studios
- Corel
- Newtek Inc.
- MAXON Computer GmbH
- Zco Corporation
- Image Metrics Inc.
- Smith Micro Software Inc.
- Video Caddy
- Animaker Inc.
- SideFX
- Aardman Animations Ltd.
- Triggerfish Studios
- Animation Sharks
- Bondware Inc.
Key Topics Covered:
1. Executive Summary
2. Animation Market Characteristics
3. Animation Market Trends And Strategies
4. Animation Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Animation Market Size and Growth
5.1. Global Animation Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Animation Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Animation Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Animation Market Segmentation
6.1. Global Animation Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Software
- Services
6.2. Global Animation Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 2D Animation
- Motion Graphics
- 3D Animation
- Stop Motion
- Other Types
6.3. Global Animation Market, Segmentation By Revenue Stream, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Over-The-Top (OTT)
- Advertising
- Sale Of Tickets
- Other Revenue Streams
6.4. Global Animation Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- On-Premise
- On-Demand
6.5. Global Animation Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Media And Entertainment
- Automotive
- Online Education
- Other Applications
7. Animation Market Regional And Country Analysis
7.1. Global Animation Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Animation Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/lxblrm
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