Animation and VFX Market Expected to Gain Popularity Across the Globe by 2030

 The global animation and VFX market size was valued at USD 167.9 billion in 2021. It is estimated to reach USD 401.0 billion by 2030, registering a CAGR of 11.5% during the forecast period. The animation and VFX market is an emerging vertical across the ICT sector. It has been focusing on development across the media and entertainment industry in the recent past. It is expected to form a significant share of the ICT and entertainment industry during the forecast period. The sector has enormous potential to generate employment and drive ICT exports, resulting in socio-economic development across many emerging economies.

There is an upward trend in the production value or budgets for some end-user industries, particularly films. This is mainly due to the broader international distribution to digital theatres. Furthermore, writers and directors are more open to embracing scripts requiring VFX. Hence, production companies are increasingly pursuing more ambitious projects that can only be fulfilled using VFX and streamlined platforms. They have broadened the genres of content being published.

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Global Animation and VFX Market Definition

Animation is a technique of art that causes images to look like they are actually moving. The Animation industry in India & internationally is huge & growing. There is a big market for advertising campaigns, educational CDs, animated films, websites with animation, etc.

VFX or Visual Effects are mixing real film shooting with animated images. For instance, in movie that shows the hero jumping off the ground and flying into the air is created using VFX

COVID-19 Impact on the Global Animation and VFX Market

The pandemic spurred the adoption of an entirely cloud-based visual effects workflow, where previously brick-and-mortar VFX houses maintained their render farms and creative hardware, often servicing hundreds of artists in-house. For those VFX studios with an existing investment in expensive hardware, the cloud still offers useful opportunities for the same kind of flexibility in their workflows. A hybrid cloud model enabled studios to ramp up additional resources quickly on an as-needed basis when projects exceed existing resources.

COVID -19 pandemic forced big events like award shows, concerts, and performances to find new digital forms. VFX industry evolved alongside the new arising demands. Many big-budget livestream performances heavily incorporated VFX compositing for their sets. Sports leagues are trying to implement digital crowds through VFX to recreate the excitement of a live event. However, development has been less affected due to the adopted working environment. Launching new projects has been more complicated, specifically while involving international partners. Studios that are delivering projects now are also facing problems getting enough new projects for future work. Revenues from broadcasters are declining.

Global Animation and VFX Market Dynamics

Drivers: Rapid Growth in Hybrid Animation with 3D Enabled Technology

The blending of two-dimensional (2D) and three-dimensional (3D) animation is known as hybrid animation. Many animators or designers use that method to make cartoons, short stories, and many more. The creation and presentation of hybrid animation are not new in the industry.

Hybrid animation is generally a 2D and 3D measurement of the flat plane's X, Y, and Z scales. It is also the creation of moving pictures in a 2D environment, such as through computerized animation software. However, 3D animation is the new type of animation in the industry, yet hybrid animation has more advantages. One of the advantages is that the creation and manipulation of the objects are easier. Moreover, hybrid animation cartoons are simpler.

Restraints: Growth in the Software and Media Piracy

Copyright infringement and piracy have been among the most controversial issues of the digital era. Indeed, most current copyright issues have been played out in the software markets over the last two decades. Software piracy is one of the major problems for the industry since it affects jobs, tax revenues, wages, and funds available for research and development. Frequent piracy makes some small and medium enterprises reluctant to invest in the market.

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The Animation and VFX market has a unique industrial chain. The overall industrial chain is focused on the formation, development, protection, appreciation, and transformation of intellectual property rights. It creates sustainable industrial chains through the value transmission of intellectual property rights. The intellectual property rights of the Animation and VFX industry are the major source of profits in the Animation and VFX industry. It can be reported in design characters or movies with the target of not being reproduced by anyone except the creators themselves.

Global Animation and VFX Market Research Report Segmentation

The animation and VFX market is categorized based on animation, type, end-users, and regions.

By Animation Platform Outlook (Sales, USD Billion, 2017-2030)

• Television and OTT
• Films
• Advertisement
• Gaming
• Other Animation Platforms

By Type Outlook (Sales, USD Billion, 2017-2030)

• 2D
• 3D
• Motion Graphics
• Others
  • Stop Motion Animation
  • Prosthetics
  • Matte Painting
  • Computer Generated Imagery (CGI)
  • Compositing and Green Screen VFX

By End-Users Outlook (Sales, USD Billion, 2017-2030)

• Media
• BFSI
• Entertainment
• Gaming
• Defense
• Other End-Users

By Region Outlook (Sales, USD Billion, 2017-2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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The television and OTT segment is accounted for the largest market share by animation platforms

Based on animation platforms, the global animation and VFX market is divided into television and OTT, films, advertisement, gaming, and other animation platforms. The television and OTT segment dominated the global market of animation and VFX and accounted for the largest revenue share of 31.2% in 2021. The rapid growth of content streaming world has enabled creators to make better content to step toward the next level on the content graph. In this emerging content creation sector, VFX and animation companies are also leaping to create VFX-heavy content for both the OTT platforms and television, primarily to excel in the content horizon.

The industry has been witnessing big films being launched on OTT platforms. The consumption patterns are rapidly changing, and OTTs have witnessed a significant surge in subscriptions. More and more platforms are being introduced, creating opportunities for filmmakers and content creators.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global animation and VFX market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global animation and VFX market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific. According to Studio Hog LLC, there are 16 VFX studios in China, and the estimated number of people working within the VFX studios in China is between 1,195 and 2,918. Further, driven by government policy and market demand, China, the largest emerging economy, is experiencing significant restructuring and growth in the animation industry. Companies and clusters quickly expand across the nation and increase in TV distribution and new media channels.

Moreover, According to the Confederation of Indian Industries (CII), the country’s animation and visual effects industry can grow significantly in the global animation, VFX, gaming, and comics (AVGC) industry. The industry is investing more in virtual production to operate remotely and efficiently with a smaller number of people, fewer shooting days, and much more effective artists' management.

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Key Market Players

The animation and VFX market is mildly concentrated, with few global players operating in the market such as Adobe Inc., iPi Soft LLC., Clara.io (Exocortex Technologies Inc.), Autodesk Inc., Lost Marble LLC, Dwango co. Ltd, Blender Foundation, Animaker Inc., Toon Boom Animation Inc., Act-3D B.V., Epic Games Inc., The Foundry Vision Mongers Ltd, Planetside Software LLC, and Bondware Inc.