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Global Animation and Gaming Expected to Skyrocket by 2016
Posted on Dec 20, 2013 at 10:49 pm IST
According to MarketandMarkets, the Global Animation and Gaming Market was represented at $122.20 billion back in 2010 and is expected to jump to $242.93 billion by 2016.
Rapid expansion, creativity, and advanced technologies are playing a major role in the massive growth of the Global Animation and Gaming markets. The animation and gaming market can be segmented into subcategories within e-Learning, web design, and animation entertainment including; movies, Visual Effects (VFX), TV & Broadcast, and Direct to DVD. Movies are further divided into 2D animation and 3D animation. Gaming takes PC games, mobile games, console games, and online games into consideration.
While the U.S. leads the market in animation with about 42% of the world’s share, thanks to animation heavyweights like Disney Enterprises Inc, Adobe Systems Incorporated, and Sony Corporation, there is a huge demand for 3D animation across the globe including Europe, Asia-Pacific and Japan, and ROW (Rest of the world).
Animation & VFX, digital
advertising, and gaming are fast increasing their
share in the overall pie.
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The power of animation is evident throughout 2013 with many hit movie blockbusters such as Planes, Turbo, Epic, Cloudy With A Chance Of Meatballs 2, and Frozen. An additional three landed in the top ten highest grossing films of 2013 - yes, live action and animated films - with The Croods at 9th place, Monsters University at 4th, and the mega-hit movie Despicable me 2 which slid in at #2 at the box office, falling just behind Iron Man 3.
With the growing popularity of innovative online gaming such as massive multiplayer and role playing games, there is a new outlook for the gaming industry. According to Newzoo’s 2013 Global Games Market Report, the $70 billion video game market is growing at over 6% a year. Contributing to this is the emerging indie sector with crowd sourced publishing. Crowd sourced games are developed with the input of fans and independent designers through platforms like Kickstarter, Indiegogo, and up-and-comer ManaCrowd.
A once clunky form of animation with voice-overs performed by the developers themselves (or their secretaries), video games are becoming more and more sophisticated with each passing year. Once reserved for the film industry, many developers are now employing motion capture technologies to help bring their animated characters to life and are shifting to professional voice actors for a more authentic portrayal.
According to MarketandMarkets, the Global Animation and Gaming Market was represented at $122.20 billion back in 2010 and is expected to jump to $242.93 billion by 2016. Since 2010, the gaming market has been the fastest growing market Y-O-Y, with an expected increase of 17.46% by 2016, registering a Compound Annual Growth Rate (CAGR) of 13.71%. The Y-O-Y growth of the animation market is estimated at a 15.83%, with a CAGR of 12.50% from 2011 to 2016.