The global animation and VFX market is witnessing rapid growth in recent years. Factors such as rising demand for high-quality animated content from entertainment and media industries, proliferation of online streaming platforms, growth of mobile gaming industry, and increasing adoption of visual effects in live-action films are fueling the growth of the market. Animation and VFX are widely used in various genres including movies, television, video games, web series, and advertisements. With increasing innovations in animation and VFX technologies, it is becoming possible to create high-definition content at lower costs which is supporting wider application of these technologies. The animation and VFX market is expected to further grow significantly during the forecast period on account of emerging opportunities in areas such as virtual reality and augmented reality.
Market Dynamics:
The key drivers propelling the growth of the global animation and VFX market are growing popularity of animation and VFX-based movies and television shows across the world and increasing investments by media and entertainment companies in animated and VFX content. In addition, proliferation of online video streaming platforms and the live-action/movie trailer industry has opened new avenues for the application of animation and VFX technologies. However, high initial investment and production costs involved in animation and VFX production is a major challenge for market players. In addition, availability of free and pirated video content affects the revenue generation of companies. On the bright side, increasing demand for animated and VFX-rich content from industries, such as mobile gaming, virtual reality, and augmented reality, is expected to create new opportunities for further growth of the market.
Key Features of the Study:
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