Animation Market Size, Share, and Trends 2024 to 2034

The global animation market size was estimated at USD 412.96 billion in 2023 and is predicted to reach over USD 836.56 billion by 2033, growing at a CAGR of 7.5% during the forecast period 2024 to 2033.

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Animation Market Key Takeaways

• North America led the global market with the highest market share of 33.94% in 2023.
• By Product Type, the 3D animation segment accounted for the biggest market share of 44.16% in 2023.
• By Industry, the media and entertainment segment generated more than 29.75% of revenue share in 2023.
• By Industry, the manufacturing segment is estimated to expand at the fastest CAGR over the projected period.

Animation Market Size in the U.S. 2024 to 2033

The U.S. animation market size was estimated at USD 55.66 billion in 2023 and is predicted to be worth around USD 121.81 billion by 2033, at a CAGR of 8.3% from 2024 to 2033.

North America is Likely to be the Largest Market for Animation

The study report contracts with the business predictions of animation products around are as counting Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. Animation market is occupied by North America due to augmented intake of the animation in various end use applications, coupled with presence of major companies in the North America and business plans that are executed by the chief players in the nations. Asia Pacific is probable to list the remarkable CAGR, on account of growing in the demand for the animation in evolving economies owing to increased preferences form automotive industry. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the animation market in Asia Pacific. Further, the Latin America as well as Middle East and Africa regions will likely to register moderate growth in the coming.

Animation Market Size in the Asia Pacific 2024 to 2033

The Asia Pacific animation market size was calculated at USD 100.31 billion in 2023 and is estimated to cross around USD 216.00 billion by 2033 with a significant CAGR of 7.5% from 2024 to 2033.

Crucial factors accountable for market growth are:

• Advancements and developments across the communications and technology sectors
• Growing media and entertainment industry
• Increased internet penetration across different regions

Key market Insights:

Technological advancements in the communications as well as technology sectors across the globe is major factor driving growth of the target industry. Emergence of virtual reality and artificial intelligence technologies across the globe is expected to generate new opportunities to market players operating in the global market. Various existing XR (Extended Reality) technology such as Virtual Reality and Artificial Intelligence Technologies are becoming more advanced in terms of creative use and application in the animation industry. AI will have a massive and profound effect on industrial growth and have transformative effect on the animation industry which is offering potential opportunities for the key players in the market. Rising adoption of visual effects technology in movies is another factor which is expected to boost growth of the target industry during the forecast years 2024 to 2033.

Animation Market Scope

Future of Global Animation Market

The major tend witnessed in the global market in growing numbers of strategic partnerships among major key players. This trend is anticipated to continue and will boost growth of the market in the near future. For instance, in January 2020, corel corporation acquired Gravit Designer, a cross-platform, web-based vector graphic design application. In July 2020, Autodesk acquired Pype, ML and AI construction industry forum. Automating building processes by Closeout from Project Planning. In May 2018, Autodesk acquired Building connected, it provides builders with cloud-based bid procurement services.

Product Type Insights

3D Animation Product Type Segment Testified Leading Market Stake in the Year 2023

Based on Product type, the 3D animation segment dominated the market during the forecast period. The growth of this segment is driven by the growing demand for animated content and the rising adoption of visual effects technology. There has been a rise in digital platforms including streaming services, social media, and virtual advertising which has shown significant demand for high-quality animated content. This demand has been fulfilled by the 3D animators by their skills and ability to design visually extraordinary animations. 3D animation has become prevalent in various industries, such as film, television, video games, advertising, and architecture, among others. Therefore, 3D animators are in high demand as they play a crucial role in meeting the growing demand for animated content. Moreover, the advancement in technology has opened opportunities for 3D animators to create high-quality animations for a range of markets, including film, television, video games, and advertising.

Animation Market, By Product Type, 2022-2023 (USD Billion)

Industry Insights

Media and Entertainment Industry Segment Reported Foremost Market Stake in 2023

Media and entertainment industry segment is expected to account for the major share of the target market. Film, radio, television, and print make up the media and entertainment industry. TV shows, Movies, news, newspapers, radio shows, magazines, music, and books are included in these segments. As both the old and modern continue to coexist, the media & entertainment industry is in a transition process. Along with this the automotive segment is anticipated to grow at the important growth rate and will expand the market revenue.

Animation Market, By Industry, 2022-2023 (USD Billion)

Animation Market Recent Developments

• In February 2020, Smith Micro Software acquired Circle Media, it is a software that allows families to manage all of the home’s connected devices.
• In July 2016, Smith Micro Software acquired iMobileMagic, it is a mobile customer products supplier that caters to clienteles attentive in mobile advancements services.
• In December 2019, Maxon Computer acquired Red Giant Software, it is a developer of special effects and motion graphics software for the entertainment industry.
• In April 2019, Maxon Computer acquired Redshift Rendering Technologies, it develops the award-winning Redshift, the fastest production-quality of the world, final-frame GPU renderer.

Animation Market Companies

• SideFX
• Adobe
• Broadcast2World, Inc
• Smith Micro Software, Inc.
• Animation Sharks
• IdeaRocket
• Triggerfish Studios
• EIAS3D
• NewTek, Inc
• BRAFTON
• Corel Corporation
• Autodesk Inc.
• Videocaddy
• Maxon Computer
• WinBizSolutionsIndia

Major Market Segments Covered:

By Product Type

• 2D Animation
  • Software
  • hardware
  • Services
• 3D Animation
  • Software
  • hardware
  • Services
• Stop Motion
  • Software
  • hardware
  • Services
• Other
  • Software
  • hardware
  • Services

By Industry

• Direct
• Education
• Media and Entertainment
• Aerospace and Defense
• Manufacturing
• Automotive
• Healthcare
• Others

By Geography

• North America
  • • U.S.
    • Canada
• Europe
  • • Germany
    • France
    • United Kingdom
    • Rest of Europe
• Asia Pacific
  • • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Asia Pacific
• Latin America
  • • Brazil
    • Rest of Latin America
• Middle East & Africa (MEA)
  • • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa