Animation, VFX and Games Market By Type (Animation & VFX, Game & VFX) , By Application (Anime, Film, Video Game) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Animation, VFX, and Games Market
The animation, VFX, and games market was valued at $259.3 billion in 2023 and is projected to reach $563.6 billion by 2032, growing at a CAGR of 8.8% from 2024 to 2032.
Animation, visual effects (VFX), and games are intertwined creative digital tools with interactive designs and appealing effects that are used to bring fictional aspects to life across several industries. Animation involves the creation of movable images by rapidly displaying a sequence of static frames. VFX involves the creation and addition of elements during the post-production process that are impractical to capture during live shooting. It is widely used in the films, television, and video games sector for the development of captivating environments. Further, games are digital entertainment escapades integrated with animation and VFX, along with several sound & gameplay mechanics. They are widely being adopted across different industries such as education, competition, entertainment, and therapeutics to enhance the engagement of users.
Increase in popularity of immersive technologies, including augmented reality and virtual reality, is a key driver of the animation, VFX, and games market. In addition, expansion of the e-sports and live-streaming platforms has propelled the market growth significantly. Furthermore, rise in demand for interactive entertainment and upsurge in investments in content production propel the development of the market. A notable trend acquiring traction in the market is the adoption of real-time rendering technology. This technology accelerates the creative process and boosts the efficacy of content creation by allowing quick visualization of modifications. This real-time enhancement of graphics is poised to elevate the specificity of output in the gaming and filming industry.
However, the production & implementation of high-quality VFX, animations, and gaming are capital-intensive processes that deter small-scale studios & independent content creators from utilizing the technologies. This deterrence hampers the widespread expansion of the market. Moreover, the extended production timelines and the rapidly changing trends present challenges for developers to cater to consumer expectations, restraining the market growth significantly. On the contrary, the synergy of ingenious technologies such as generative AI & procedural content generation (PCG) with animation, VFX, and games is assisting the filming & gaming industries in increasing their revenues. According to Forbes Magazine 2023, the video game industry alone surpassed the combined revenue of the movie and music industries in 2022 due to the capabilities of PCG. Therefore, the assimilation of animation, VFX, and games with innovative technologies is projected to present lucrative opportunities for the market in the future.
Segment ReviewThe animation, VFX, and games market is segmented into type, application, and region. On the basis of type, the market is bifurcated into animation & VFX and game & VFX. Depending on application, it is classified into anime, film, and video game. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the game & VFX segment held a high share of the market in 2023.
Depending on application, the anime segment dominated the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global animation, VFX, and games market include 3ds Max, Motionbuilder, Blender, Clara.Io, Faceshift, Houdini Apprentice, Iclone, Makehuman, Maya, Mixamo, Poser, and Terragen. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeAnimation VFX
Game VFX
By ApplicationAnime
Film
Video Game
By RegionNorth America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players3ds Max
Motionbuilder
Blender
Clara.Io
Faceshift
Houdini Apprentice
Iclone
Makehuman
Maya
Mixamo
Poser
Terragen