Global Animation Market : Market Research by Knowledge Sourcing Intelligence

The global animation market is projected to witness a compound annual growth rate of 4.79% during the forecast period, reaching a total market size of US$404.842 billion in 2023 from US$305.750 billion in 2017. With the growing communication and technology industry across the globe many new animation tools are being funneled into the market from various new and established companies in the animation sector on a consistent basis. Availability of a wide range of tools in the market is spurring their adoption among various end-user industries for activities such as gaming, entertainment, and advertisement among several others, which is boosting their market growth. 

Growing competition across industries is leading to the adoption of new and innovative ways of advertising. Rapidly growing media and entertainment industry is also increasing the adoption of advanced animation tools by the industry players to offer high quality animated videos and films to their audience, thus augmenting the market growth. Continuous advancements in technology and expansion of 3D and 4D technologies can be seen as a major growth opportunity for this market in the current scenario as well as in the future. However, issues such as piracy and the shortage of skilled professionals coupled with the high cost of developing quality and appealing animated content may restrain the market growth to some extent. We are providing market research for global animation with complete information.

Global Animation Market Share, by Geography
By geography, the global animation market is segmented as North America, South America, Europe, Middle East, and Africa, and the Asia Pacific. North America and Europe region are estimated to hold significant market shares on account of well-established media and entertainment industry in the region. Asia Pacific region is expected to be one of the fastest growing regions during the forecast period owing to the increasing number of TV channels and growing target customers in the region. Growing retail and healthcare sector in the developing countries is expected to be the prime driver for the growth of the market in the region in the coming years.

global animation market

Sample view of global animation market  share by geography

According to the International Trade Administration (ITA), U.S. Department of Commerce, United States media and entertainment industry is the largest in the world and represents a third of the global media and entertainment industry which includes motion pictures, commercials, streaming content, broadcast among various other products. The retail industry is expected to be immensely benefitted from the animated videos, as it helps to showcase product attributes to their customers, therefore, expanding retail industry is further expected to propel the market growth opportunities for the market in the coming years.
In addition, increasing investment in the gaming industry and growing cloud gaming services which are growing at the exponential rate is expected to drive the market for animation in the coming years. Furthermore, the growing healthcare sector is anticipated to drive the market for the market during the forecast period as the animation is widely used in the healthcare sector; it allows professionals and medical students to visualize the details of the human anatomy with clarity. 

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