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The animation and gaming market share is expected to increase to USD 103.30 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 22.76%.
This animation and gaming market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers animation and gaming market segmentations by application (TV, film, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The animation and gaming market report also offers information on several market vendors, including Technicolor SA, The Walt Disney Co., Framestore Ltd., Adobe Inc., Sony Group Corp., Activision Blizzard Inc., Microsoft Corp., Nintendo Co. Ltd., NetEase Inc., Warner Bros. Entertainment Inc., TOEI ANIMATION Co. Ltd., The Foundry Visionmongers Ltd., Corus Entertainment Inc., Epic Games Inc., Lost Marble LLC, Toonz Animation India Pvt. Ltd., Anibrain, Reliance Industries Ltd., and Autodesk Inc. among others.
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The increasing sophistication in animation and gaming is notably driving the animation and gaming market growth, although factors such as the shortage of skilled personnel may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the animation and gaming industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Animation and Gaming Market Driver
The increasing sophistication in animation and gaming is one of the factors driving the animation and gaming market growth. There is an increasing age group of 18-25 years consumers, watching video content or playing video games for a variety of reasons, such as entertainment, escape from a monotonous lifestyle, or to relieve stress, the levels of sophistication provided by video content creators in the market vary. In view of this, the global animation and gaming market has witnessed rapid innovations, such as 3D animations or 4K content, which are designed mostly for the adult consumer segment that is looking for a better experience in games and animated content. Such innovations may drive the animation and gaming market growth during the forecast period.
Key Animation and Gaming Market Trend
The rising number of pay-TV channels is one of the key animation and gaming market trends fueling market growth. Pay-TV offers subscription-based TV services and new platforms based on satellite and cable distribution technologies, coupled with wider options in content, thereby driving the animation and gaming market. Moreover, it provides a large number of choices to subscribers in selected channels. Furthermore, digitalization is expected to increase subscriptions to Pay-TV. This, in turn, is expected to fuel the growth of the global animation and gaming market during the forecast period.
Key Animation and Gaming Market Challenge
The shortage of skilled personnel is one of the key factors challenging the animation and gaming market growth. Currently, despite the increasing demand for video content and games, salaries remain low, and therefore, animation developers and content creators are opting for part-time jobs. The high attrition rate among skilled animation professionals may be due to several factors, such as inadequate training programs, the absence of job satisfaction, the lack of recognition, and the lack of awareness about the software. Moreover, the low compensation package paid to such professionals is another reason for the high attrition rate. Such factors are anticipated to challenge the animation and gaming market growth during the forecast period.
This animation and gaming market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global animation and gaming market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the animation and gaming market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the animation and gaming market encompasses successful business strategies deployed by the key vendors. The animation and gaming market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The animation and gaming market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the animation and gaming market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market's growth will originate from North America during the forecast period. The US is the key market for the animation and gaming market in North America. Market growth in this region will be slower than the growth of the market in South America and APAC.
The high use of software and services in the media and entertainment industry will facilitate the animation and gaming market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 had a positive impact on the regional animation and gaming market. Gamers spent more time in the virtual world, looking for gaming partners, as they were confined to their homes for longer periods during the pandemic. Also, most consumers watched animated video content on TV or through smart devices, such as smart tablets and mobile phones, and thus, the revenue of vendors increased in 2020. Moreover, the adoption of business strategies by key players in the animation and gaming industry and the addition of new video content and games in their portfolios are expected to increase the demand in the regional market during the forecast period.
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The animation and gaming market share growth in the TV segment will be significant during the forecast period. The growing popularity of smart televisions that support 4K content, along with the rising use of smartphones and tablets for watching videos, are increasing the demand for high-quality content from viewers. To capture the growing digital video content market, several digital video streaming service providers are spending heavily on the production of TV series and films. These factors are creating the demand for VFX in television video content, which will drive the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the animation and gaming market size and actionable market insights on the post-COVID-19 impact on each segment.
Animation and Gaming Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.76% |
Market growth 2022-2026 |
$ 103.30 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.56 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, China, Japan, South Korea, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Technicolor SA, The Walt Disney Co., Framestore Ltd., Adobe Inc., Sony Group Corp., Activision Blizzard Inc., Microsoft Corp., Nintendo Co. Ltd., NetEase Inc., Warner Bros. Entertainment Inc., TOEI ANIMATION Co. Ltd., The Foundry Visionmongers Ltd., Corus Entertainment Inc., Epic Games Inc., Lost Marble LLC, Toonz Animation India Pvt. Ltd., Anibrain, Reliance Industries Ltd., and Autodesk Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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