Animation And VFX Is Fastest Growing Segment Fueling The Growth Of Animation And Vfx Market

https://www.coherentmarketinsights.com/market-insight/animation-and-vfx-market-5343
Animation And VFX Market



Market Overview:

The Animation And Vfx Market comprises products and services related to animation and visual effects development for movies, television, games and commercial advertisement. Animation and VFX have applications in various end-use industries like entertainment, education, architecture and healthcare for effective visualization of complex concepts and locations.

Market key trends:
The emergence and adoption of virtual production is one of the major trend being witnessed in the Animation And Vfx Market. Virtual production facilitates simulation of live-action filming using real-time rendering, virtual sets and photorealistic digital characters. It allows filmmakers to preview scenes in virtual environments before actual production and also makes on-set filming more flexible. The growing popularity of immersive content like virtual reality and augmented reality is also driving increased demand for animation and visual effects.

The global Animation And VFX Market Demand is estimated to be valued at US$ 217.06 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global animation and VFX market is segmented into various categories including content type, component, service, application and region. Based on content type, the market is bifurcated into animation and VFX. The animation segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Growing popularity of animation movies and series across various OTT platforms is driving the growth of this segment.

Key Takeaways
The global animation and VFX market is expected to witness high growth, exhibiting CAGR of 13. % over the forecast period, due to increasing demand for high quality animation and visual effects content across industries like movies, TV shows, video games and advertisements.

Regional analysis
North America dominated the global animation and VFX market in 2022 and is expected to maintain its dominance during the forecast period. Presence of key market players and high adoption of advanced technologies in the animation and VFX industry in countries like US and Canada are driving the growth of the regional market. Asia Pacific market is expected to grow at the fastest CAGR during the forecast period due to rapid growth of animation and media & entertainment industries in emerging economies like India and China.

Key players
Key players operating in the animation and VFX market are Bondware Inc., Adobe Inc., Planetside Software LLC, Autodesk Inc., Epic Games Inc., IPI Soft LLC, Act-3D B.V., Exocortex Technologies Inc., Toon Boom Animation Inc., Lost Marble LLC, The Foundry Vision Mongers Ltd., Animaker Inc., Blender Foundation, and DWANGO Co. Ltd. Adobe Inc. and Autodesk Inc. dominate the market owing to their extensive product portfolios for animation and VFX.

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