Rise in Trend of Animated Films and Daily Soaps Drive the Demand for Animation Market

The animated content is growing at a healthy rate around the world, broadcasters are becoming more interested in launching animated shows, and daily soaps for children are in high demand, increasing the launch of new daily soaps. Thus, the rising trend of animated films and daily soaps is a major driver of the global animation market's growth.

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Data Bridge Market Research analyses that the animation market is expected to grow at a CAGR of 5.3% in the forecast period of 2022 to 2029 and is expected to reach USD 481,998.66 million by 2029.

Key Findings of the Study

Rapid growth of the animation industry is expected to drive the market's growth rate

In the pandemic, people have been able to explore new avenues of entertainment and OTT platforms have emerged as a popular entertainment platform. The rise of OTT has benefited the animation industry by increasing viewership, especially for children content. OTT is now playing a significant role in the entertainment industry, aiding in advancing VFX and animation technologies. As a result, the global animation industry is expanding on a daily basis, which promotes the growth of the global animation market and acts as a market driver.

Report Scope and Market Segmentation

Segment Analysis:

The global animation market is segmented into revenue stream industry.

• On the basis of revenue stream, the global animation market is segmented into OTT, sale of tickets, advertising and others.

In 2022, the OTT segment is expected to dominate the global animation market

The OTT segment is expected to dominate the global animation market with a 41.59% market share due to rising covid cases, which helped advance VFX and animation technologies.

Major Players

Data Bridge Market Research recognizes the following companies as the major Animation market players in Animation market are Warner Bros. Discovery, Inc (U.S.), Sony Pictures Digital Productions Inc. (U.S.), DREAMWORKS ANIMATION (U.S.), TOEI ANIMATION CO., LTD. (Japan), Disney (U.S.), Paramount (U.S.), NETFLIX (U.S.), AARDMAN ANIMATIONS LTD (U.K.), OLM, Inc. (Japan), Madman Entertainment Pty. Ltd. (Australia), Kyoto Animation Co., Ltd. (Japan), Pierrot Co., Ltd. (Japan), BluBlu Studios (U.K.), NIPPON ANIMATION CO., LTD. (Japan), SUNRISE (U.S.)

Market Development

• In January 2020, AARDMAN ANIMATIONS LTD, in collaboration with Greenpeace, will release a powerful new animated film to highlight the plight of the world's oceans. This newly released animated film emphasizes the global ocean crisis. This has assisted the company in generating more revenue and improving its offerings to grow in the market
• In August 2021, Warner Media, LLC announced House of Max, a consumer-centric brand studio for advertisers that will leverage Warner Media's iconic entertainment IP, brands, and franchises; coveted audience access; and unrivaled cultural scale. Advertisers will now be able to develop custom creative for their marketing messages in a best-in-class environment on HBO Max, one of the market's fastest-growing streaming platforms, thanks to House of Max's creative and production capabilities. Such business expansions will set the company apart from the competition and position it as a market leader
• In April 2021, Disney received five Academy Awards, with Searchlight Pictures' Nomadland receiving three Oscars, including Best Motion Picture, and Disney and Pixar's Soul receiving three Oscars, including Best Animated Feature. Since its launch in 2019, Disney+ has received its first Oscar nominations as the home of Disney and Pixar's Soul. Awards like this improve the company's visibility and public perception, allowing it to reach new heights.

Regional Analysis

Geographically, the countries covered in the animation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in animation market during the forecast period 2022 - 2029

North America dominates the animation market due to businesses' shifted focus from conventional advertising modes to digital services.

Asia-Pacific is estimated to be the fastest growing region in Animation market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period owing to the use of 3D animation in this region which is attracting the viewers for a particular product or service and also helps in showcasing the overall standard and vision of business organization in the region.

COVID-19 Impact Analysis

The emergence of COVID-19 resulted in a slight decrease during the period as all major industries came to a standstill to curb the disease's spread during the year. The imposition of strict lockdowns and curfews were imposed, resulting in lower production activity in the sector. It took a while for the studios to realize that the work could be done from home, even if not as quickly, because the circumstances during the pandemic were difficult. As the world recovers from the pandemic, the animation market is expected to grow in the coming years.

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