The Animation And VFX Market size is estimated at USD 179.78 billion in 2024, and is expected to reach USD 311.46 billion by 2029, growing at a CAGR of 9.43% during the forecast period (2024-2029).
The Animation and VFX market is moderately competitive and consists of a few major players. However, with the advancement in animation technology across professional services, new players are increasing their market presence, thereby expanding their business footprint across emerging economies. Significant Players include Adobe Inc., Autodesk Inc., iPi Soft LLC, Clara.io (Exocortex Technologies Inc.), and Lost Marble LLC, among others.
In August 2022, Cinesite acquired a majority stake in VFX Studio FX3X. The acquisition added a deep roster of talent in creative VFX supervision and production management and significantly increased. Cinesite’s global capacity to serve clients better and on a grander scale in both episodic television and feature films.
In July 2022, Netflix acquired the world-leading independent animation studio Animal Logic. Animal Logic has produced award-winning designs, visual effects, and animation for over 30 years. This acquisition was expected to strengthen existing business and increase long-term capacity in the animation space for better entertainment to members worldwide.
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