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Generative AI In Animation Global Market Report 2024 by The Business Research Company | Alphabet Inc.; Microsoft Corporation; Meta Platforms Inc.; Amazon Web Services Inc.; Netflix Inc.; NVIDIA Corporation; Adobe Inc.; Autodesk Inc.; Epic Games Inc.; Pixa
Generative AI In Animation Market Trends And Strategies
The generative AI in animation market size is expected to see exponential growth in the next few years. It will grow to $6.04 billion in 2028 at a compound annual growth rate (CAGR) of 36.4%. The growth in the forecast period can be attributed to ethical considerations, cross-platform compatibility, interactivity integration, efficiency improvements, realism enhancement and accessibility enhancement. Major trends in the forecast period include procedural animation, style transfer for animation, enhanced scene generation, AI-driven lip sync and real-time character animation.
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Generative AI In Animation Market Major Segments
The generative ai in animation market covered in this report is segmented -
1) By Type: Transformers, Generative Adversarial Networks, Variational Autoencoders, Other Types
2) By Components: Solutions, Services
3) By Application: Television And Over-The-Top, Films, Advertisements, Gaming, Other Applications
Key Driver - Rising Gaming Industry Fuels Growth In The Generative AI In Animation Market
The rising gaming industry is expected to propel the growth of the generative AI in animation market going forward. The gaming industry encompasses the development, production, distribution, and monetization of video games across various platforms such as consoles, PCs, and mobile devices. The rising gaming industry can be attributed to increasing accessibility through mobile platforms and a growing global audience embracing gaming as both entertainment and a competitive activity. Generative AI is revolutionizing gaming animation by autonomously creating lifelike characters and environments, enhancing immersion, and reducing development time. Its procedural generation capabilities offer infinite possibilities, shaping dynamic narratives and expansive virtual worlds. For instance, in January 2023, according to the Entertainment Software Association, a US-based trade association of the video game industry, in December 2022, U.S. consumer spending on video game content, hardware, and accessories reached $7.6 billion, up 2% from the same month in 2021 and totaling $56.6 billion for the whole year of 2022. Therefore, the rising gaming industry is driving the growth of the generative AI in animation market.
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Prominent Trend - Advancements In Text-to-Animation Services Drive Innovation In The Generative AI Animation Market
Major companies operating in the generative AI in animation market are focused on developing new services, such as browser-based generative AI service, to boost their revenue in the market. A browser-based generative AI services revolutionize the animation industry by empowering animators with advanced tools and techniques for creating compelling and visually stunning animations more efficiently and effectively. For instance, in March 2024, DeepMotion Inc., a US-based cloud-based deep learning motion intelligence company, launched Saymotion, a new browser-based generative AI service and a creator platform that utilizes generative AI technology to transform text prompts into intricate 3D animations effortlessly in minutes. This platform uses natural language processing (NLP) to convert text prompts into 3D animations and generates animation in FBX (Filmbox), GLB (GL Binary), and BVH (Biovision Hierarchy) formats that can be utilized in DCC software and game engines. Users can create detailed animations of human characters by inputting text prompts that describe the character, the action being performed, and the animation's direction, orientation, or style.
Generative AI In Animation Market Players
Major companies operating in the generative AI in animation market report are Alphabet Inc.; Microsoft Corporation; Meta Platforms Inc.; Amazon Web Services Inc.; Netflix Inc.; NVIDIA Corporation; Adobe Inc.; Autodesk Inc.; Epic Games Inc.; Pixar Inc.; Wētā FX; The Cinesite Group; Hugging Face Inc; MAXON Computer GmbH; Synthesia A S; Kinetix; Runway AI Inc; AI21 Labs; Descript Inc; Toon Boom Animation Inc.; Side Effects Software Inc.; Wibbitz Inc; Midjourney Inc; Lumen5 Technologies Ltd; RADiCAL Solutions Inc
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Largest And Fastest Growing Region In The Market
North America was the largest region in the generative AI in animation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in animation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Generative AI In Animation Market Report Structure
3. Generative AI In Animation Market Trends And Strategies
4. Generative AI In Animation Market - Macro Economic Scenario
5. Generative AI In Animation Market Size And Growth
…..
27. Generative AI In Animation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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