Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Animation and VFX Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The Surge in Digital Consumption and Technological Advancements Power the Growth of the Animation and VFX Industry
The global animation and visual effects (VFX) industry is poised for significant growth, with forecasts predicting a market value of $300.3 billion by 2030. This expansion reflects an impressive compound annual growth rate (CAGR) of 10.3% from 2024 to 2030. Factors contributing to this trend include the increasing number of online video viewers and the burgeoning demand for high-quality 3D and Ultra-High Definition (UHD) content in movie theaters.
Segment Analysis Highlights Diverse Growth Opportunities Across Platforms and Regions
With a comprehensive analysis of various market segments, the industry's scope extends across a myriad of platforms and end-use markets, ranging from television, over-the-top (OTT) streaming services, and film to sectors such as media, banking, financial services, and insurance (BFSI), entertainment, gaming, and defense. In-depth segmentation analysis reveals substantial market size estimations for types like 2D, 3D, and motion graphics, as well as end uses in various global regions including North America, Europe, Asia Pacific, and the Rest of the World.
Innovation and Competitive Strategies Shape the Market Landscape
The animation and VFX market is characterized by a dynamic and innovative competitive landscape. Key industry players maintain their market positions and drive growth through strategic investments in research and development (R&D), the expansion of manufacturing facilities, and the implementation of integration opportunities across the value chain. These strategies are integral for companies to accommodate increasing demands, reduce production costs, introduce pioneering products and technologies, and widen their customer base.
3D Animation Dominates as APAC Promises Highest Regional Growth Rate
The forecasts indicate that 3D animation will continue to dominate the market, holding the largest segment over the forecast period. Regionally, Asia Pacific is expected to witness the highest growth rate, attributed to the rapid expansion of the media and entertainment industry along with the well-established anime business in the region.
Addressing Emerging Trends and Market Dynamics
The industry is also experiencing several emerging trends and substantial shifts in customer demands. Continuous technological advancements, innovative product launches, and strategic business expansions are increasingly shaping the market. The dynamic market conditions underscore the importance of understanding critical factors, challenges, and risks that influence market dynamics. The global animation and VFX industry's trajectory reflects its resilience and capacity for continuous innovation, which serves as a testament to its burgeoning role in contemporary digital media and entertainment landscapes. As the market evolves, stakeholders are primed to witness and participate in its transformative journey through the next decade.
A selection of companies mentioned in this report includes, but is not limited to:
- Adobe
- Autodesk
- ipi Soft
- DWANGO
For more information about this report visit https://www.researchandmarkets.com/r/l2hxwp
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