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Generative AI In Animation Market Size, Surging Demand, Detailed Analysis, Share And Forecast To 2033
Generative AI In Animation Market Size
According to The Business Research Company's, The generative AI in animation market size has grown exponentially in recent years. It will grow from $1.28 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 36.2%. The growth in the historic period can be attributed to the automation of animation processes, realistic animations based on real-world footage, experimentation with different animation styles, increased creative productivity, and widespread adoption and integration.
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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Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Alphabet Inc., Microsoft Corporation, Meta Platforms Inc., Amazon Web Services Inc., Netflix Inc., NVIDIA Corporation, Adobe Inc., Autodesk Inc., Epic Games Inc., Pixar Inc., Weta 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
Generative AI In Animation Market 2024 Key Insights:
• 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%.
• Rising Gaming Industry Fuels Growth In The Generative AI In Animation Market
• Advancements In Text-to-Animation Services Drive Innovation In The Generative AI Animation Market
• North America was the largest region in the generative AI in animation market in 2023
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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