Animation Market Size To Reach USD 779.73 Bn By 2032

The global animation market size accounted for USD 392.54 billion in 2022 and is expected to reach USD 779.73 billion by 2032 with a CAGR of 6.8% during the forecast period 2023 to 2032.

Key Takeaways:

North America led the global market with the highest market share of 33.92% in 2022.
By Product Type, the 3D animation segment accounted for the biggest market share of 44.03% in 2022.
By Industry, the media and entertainment segment generated more than 29.67% of revenue share in 2022.
By Industry, the manufacturing segment is estimated to expand at the fastest CAGR over the projected period.

Global animation industry is offering enormous growth opportunities for the manufacturers, vendors, customers in developed as well as emerging economies worldwide. Animation involved the practice of controlling a series of the still images by showing them in order at a certain pace, producing the illusion of the action of images. Recent animation includes computer generated imagery. In the CGI animated data are created or programmed using software as well as animation tools. Currently, animation has a wide variety of technologies and platforms, for example television and video, digital platforms, entertainment, and games. The use of cartoon characters in animation and animated films has grown over the last decade. Most animation films have quickly and slowly achieved recognition and success in new years. Rapid advancements across communication and technology sectors across the globe are anticipated to drive growth of the global animation market. Addition to this, budding media and entertainment business is also boosting growth of the global market.

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Growth Factors:

Communication and the television industries are growing at the rapid pace. The technological advancements in the communication and the television industry are major driver for the global animation market growth. Addition to this, in the recent movies, the adoption of the visual effect technology is increasing which is projected to have positive effect on the global industry growth. Increasing entertainment and the media industry is anticipated to create numerous opportunities for the growth industry growth in the near future. Increasing base of the video viewers owing to increased usage of smartphones, internet penetration, easily accessible multimedia devices and growth in the usage of the tablets are among major factors anticipated to augment the growth of global animation industry over the forecast period of time. However, lack of the government support is major factor to limit the target industry growth in the near future. Along with this, lack of the investment and increased sensitivity of the price due to intense competition are among major factors to hinder growth of the global industry in the near future. However, arrival of AI and VR will create huge opportunities in the global industry.

Table of Contents

Scope of the Animation Market

Report Highlights	Details
Market Size in 2023	USD 412.96 Billion
Market Size by 2032	USD 779.73 Billion
Growth Rate from 2023 to 2032	CAGR of 6.8%
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Offerings, Product, Industry
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Report Highlights:

On the basis of type 2D animation product type will register supreme share in the near future. The growth is attributed to its growing adoption in the various industry verticals across the globe. Sideways with this the motion graphics product type segment will be growing at considerable pace and will fuel growth of the animation industry in the near future.
Based on offerings the global market is categorized as software and services among which the software segment will register maximum share in the near future. Services offerings segment is anticipated to register highest growth rate as well as market share over the forecast period of time.
Among the industry segment media and entertainment industry estimated as a dominant segment, along with maximum share in year 2020. The growth is attributed to its rising popularity. Along with this the automotive segment is anticipated to grow at the noteworthy growth rate and will augment the market revenue.
Smith Micro Software, Inc. accounted for a significant share of the global animation market due to the implementations of its innovative business strategies.

Regional Analysis:
The North America will lead the worldwide industry owing to augmented demand for the animation in various end user applications, coupled with presence of major companies in the North America and business plans that are executed by the chief companies in the nations of North America is prospective to observer significant growth of aiming industry in future. The Asian market is probable to list the striking CAGR, on account of growing demand for the animation in emerging economies. Likewise, utmost of the companies functioning in the market are advancing deeply in order to get the modest advantage in the animation market in the Asia Pacific. The market in the Europe is expected to hold significant market share and the growth is attributed to the increased growing media and entertainment industry especially in the France, Russia, and U.K. of the region. The Latin America animation market is expected to grow at moderate CAGR in the near future. Also, Middle East and Africa region is expected to create lucrative growth opportunities in the target industry.

Key Market Players and Strategies:
The main firms working in the across the globe includes SideFX, Adobe, Broadcast2World, Inc. Smith Micro Software, Inc. Animation Sharks, IdeaRocket, Triggerfish Studios, EIAS3D, NewTek, Inc, BRAFTON, Corel Corporation, and Autodesk Inc. Videocaddy, Maxon Computer, WinBizSolutionsIndia. Massive venture in the study of the animation attended by planned partnerships similar as mergers, firm acquisitions are corporate approaches started by the chief firms in the animation market.

Top Players Contending in the Market:

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

Key Developments:

In February 2020, Smith Micro Software acquired Circle Media, it is a software that allows families to manage all of the home’s connected devices.
In July 2016, Smith Micro Software acquired iMobileMagic, it is a mobile customer products supplier that caters to clienteles attentive in mobile advancements services.
In December 2019, Maxon Computer acquired Red Giant Software, it is a developer of special effects and motion graphics software for the entertainment industry.
In April 2019, Maxon Computer acquired Redshift Rendering Technologies, it develops the award-winning Redshift, the fastest production-quality of the world, final-frame GPU renderer.

Major Market Segments Covered:

By Offerings

Software
Services

By Product Type

2D Animation
3DAnimation
Motion graphics
Stop Motion
Other

By Industry

Direct
Education
Media and Entertainment
Aerospace and Defense
Manufacturing
Automotive
Healthcare
Others

By Geography

North America
- - U.S.
  - Canada
Europe
- - Germany
  - France
  - United Kingdom
  - Rest of Europe
Asia Pacific
- - China
  - Japan
  - India
  - Southeast Asia
  - Rest of Asia Pacific
Latin America
- - Brazil
  - Rest of Latin America
Middle East & Africa (MEA)
- - GCC
  - North Africa
  - South Africa
  - Rest of Middle East & Africa