Press release
Animation Market is projected to grow at a CAGR of 5.3% within the forecast period of 2023-2030: Cognitive Market Research
Animation Market is projected to grow at a CAGR of 5.3% within the forecast period of 2023-2030: Cognitive Market Research
Animation is the development and use of moving visuals and visual effects to enhance various forms of communication. It is a powerful tool for captivating and engaging people by bringing unchanged thoughts to life. Animation is used in a variety of business applications including presentations, marketing efforts, and advertising campaigns. Businesses can efficiently convey complex concepts, simplify explanations, and advertise their products or services by using animated content such as videos, explainer videos, and animated infographics. The global animation market has grown and evolved significantly over the years, becoming a major and competitive sector. Feature films, television programs, video games, web material, and ads are all examples of animation.
Several factors have influenced the animation market which includes the increasing utility for high-quality entertainment across all age groups. Consumption of animated material has risen significantly due to developments in digital technology and improved accessibility to content via streaming platforms and internet channels. Furthermore, the globalization of media and the emergence of multinational collaborations helped promote the expansion of the animation sector. Co-productions bring together studios from many nations, combining resources and experience, resulting in the creation of diverse and culturally rich content. This has enabled animators, writers, and artists to collaborate on global projects.
Summary:
The Global Animation market was valued at USD 395.32 Billion in 2022, registering a CAGR of 5.3% for the forecast period 2023-2030.
To know more about The Animation Market statistics click here: https://www.cognitivemarketresearch.com/animation-market-report
Market Dynamics:
• Growing Demand for the Entertainment Industry
The growing demand for the entertainment industry is propelling the growth of the animation market. In recent years there has been an increase in the entertainment industry ranging from movies, television shows, video games, and other online platforms have resulted in the demand for the entertainment industry and thus increasing the growth of the animation sector. Animated content is developing at a greater pace around the world, broadcasters are becoming more interested in introducing animated shows, and daily soaps for children are in high demand, which has increased since the launch of new daily soaps. For instance, in 2023, The Media and Entertainment industry accounts for around 6.9% of total US GDP. The advancement of computer-generated imagery (CGI), motion capture, and virtual reality technology has pushed the limits of what is visually possible. These developments have improved the immersive experience for viewers while also providing new creative opportunities for content developers. As a result, animation has become more complex and lifelike, capturing the attention of viewers of all ages.
Because of the growth in the entertainment business over the last year, many companies are expanding their portfolio by offering animation products and services. For instance, in 2022, Autodesk launches VFX and animation for a film, game, and other commercials for improved flexibility and affordability.
• Increased use of the Internet across Various Regions (Access Detailed Analysis in the Full Report Version)
• Increasing Demand for 3D Mobile Games and Apps (Access Detailed Analysis in the Full Report Version)
Market Segmentation:
Product:
• 2D Animation
• 3D Animation
• Motion graphics
• Stop Motion
• Other
Among product types, 2D animation accounted for the largest share in terms of revenue, in 2022. The 2D animation industry is expanding rapidly, with rising demand in a variety of industries. With the growing popularity of web videos and the growing usage of animation in education and marketing, 2D animation is set to remain a popular and lucrative business for many years to come. The use of 2D animation in immersive and interactive contexts is now more possible than ever because of the growth of mobile devices, gaming platforms, and virtual reality technologies. For instance, 2D animation has been used in mobile games like "Angry Birds" and "Candy Crush" to provide enjoyable and engaging gameplay, while virtual reality platforms like Oculus have the potential to provide completely immersive 2D animated environments.
End User:
• Media & Entertainment
• Education & Academics
• Architecture & Construction
• Government & Defense
• Healthcare & Life Sciences
• Manufacturing
• Others
Offering:
• Software
• Services
Deployment:
• On-premise
• On-demand
Get free sample pages of latest published Animation Market Report: https://www.cognitivemarketresearch.com/animation-market-report#request_sample
Competitive Analysis for Animation Market:
• SideFX
• Adobe
• Broadcast2World Inc
• Smith Micro Software Inc
• Animation Sharks
• IdeaRocket
• Triggerfish Studios
• EIAS3D
• NewTek Inc
• BRAFTON
• Others (Available on- )
Company Profile
• Autodesk Inc
Autodesk Inc is a manufacturer of engineering, 3D designs, construction entertainment software, and services. The products are offered to architecture, engineering, construction, and digital media & entertainment services. The company's product portfolio includes construction management cloud-based software such as BIM 360 and Auto CAD Civil 3D. The media & entertainment segment offers 3D modeling and animation solutions.
Recent Development
• September 2022,
Autodesk Inc Launched Maya Creative
Autodesk Inc has introduced an affordable and flexible version of Maya, to offer 3D modeling tools and content creation for artists at small facilities
• November 2021,
Autodesk Inc acquired LoUPE, a cloud-based production pipeline technology
Autodesk Inc has engaged in the acquisition of cloud-based LoUPE technology from Tangent Labs, to expand the product portfolio in emerging regions.
To know more about the Animation Market click here: https://www.cognitivemarketresearch.com/animation-market-report
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly
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