Animation Market Size, Share, and Trends 2024 to 2034

Animation Market Size and Forecast 2024 to 2034

The global animation market size is expected to be valued at USD 436.24 billion in 2024 and is anticipated to reach around USD 895.71 billion by 2034, expanding at a CAGR of 7.5% over the forecast period from 2024 to 2034.

Animation Market Key Takeaways

• North America led the global market with the highest market share of 33.94% in 2023.
• By Product Type, the 3D animation segment accounted for the biggest market share of 44.16% in 2023.
• By Industry, the media and entertainment segment generated more than 29.75% of revenue share in 2023.
• By Industry, the manufacturing segment is estimated to expand at the fastest CAGR over the projected period.

U.S. Animation Market Size and Growth 2024 to 2034

The U.S. animation market size accounted for USD 59.27 billion in 2024 and is projected to be worth around USD 131.16 billion by 2034, poised to grow at a CAGR of 8.3% from 2024 to 2034.

North America is Likely to be the Largest Market for Animation

The study report contracts with the business predictions of animation products around are as counting Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. Animation market is occupied by North America due to augmented intake of the animation in various end use applications, coupled with presence of major companies in the North America and business plans that are executed by the chief players in the nations. Asia Pacific is probable to list the remarkable CAGR, on account of growing in the demand for the animation in evolving economies owing to increased preferences form automotive industry. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the animation market in Asia Pacific. Further, the Latin America as well as Middle East and Africa regions will likely to register moderate growth in the coming.

Market Overview

Technological advancements in the communications as well as technology sectors across the globe are major factors driving the growth of the target industry. The emergence of virtual reality and artificial intelligence technologies across the globe is expected to generate new opportunities for market players operating in the global market. Various existing XR (Extended Reality) technologies such as Virtual Reality and Artificial Intelligence Technologies are becoming more advanced in terms of creative use and application in the animation industry. AI will have a massive and profound effect on industrial growth and have a transformative effect on the animation industry which is offering potential opportunities for the key players in the market. The rising adoption of visual effects technology in movies is another factor that is expected to boost the growth of the target industry during the forecast years 2024 to 2034.

Animation Market Growth Factors

• Advancements and developments across the communications and technology sectors
• Growing media and entertainment industry
• Increased internet penetration across different regions

Market Scope

Product Type Insights

3D Animation Product Type Segment Testified Leading Market Stake in the Year 2023

Based on Product type, the 3D animation segment dominated the market during the forecast period. The growth of this segment is driven by the growing demand for animated content and the rising adoption of visual effects technology. There has been a rise in digital platforms including streaming services, social media, and virtual advertising which has shown significant demand for high-quality animated content. This demand has been fulfilled by the 3D animators by their skills and ability to design visually extraordinary animations. 3D animation has become prevalent in various industries, such as film, television, video games, advertising, and architecture, among others. Therefore, 3D animators are in high demand as they play a crucial role in meeting the growing demand for animated content. Moreover, the advancement in technology has opened opportunities for 3D animators to create high-quality animations for a range of markets, including film, television, video games, and advertising.

Animation Market, By Product Type, 2020-2023 (USD Billion)

Industry Insights

Media and Entertainment Industry Segment Reported Foremost Market Stake in 2023

Media and entertainment industry segment is expected to account for the major share of the target market. Film, radio, television, and print make up the media and entertainment industry. TV shows, Movies, news, newspapers, radio shows, magazines, music, and books are included in these segments. As both the old and modern continue to coexist, the media & entertainment industry is in a transition process. Along with this the automotive segment is anticipated to grow at the important growth rate and will expand the market revenue.

Animation Market, By Industry, 2020-2023 (USD Billion)

Animation Market Companies

• SideFX
• Adobe
• Broadcast2World, Inc
• Smith Micro Software, Inc.
• Animation Sharks
• IdeaRocket
• Triggerfish Studios
• EIAS3D
• NewTek, Inc
• BRAFTON
• Corel Corporation
• Autodesk Inc.
• Videocaddy
• Maxon Computer
• WinBizSolutionsIndia

Recent Developments

• In February 2020, Smith Micro Software acquired Circle Media, it is a software that allows families to manage all of the home’s connected devices.
• In July 2016, Smith Micro Software acquired iMobileMagic, it is a mobile customer products supplier that caters to clienteles attentive in mobile advancements services.
• In December 2019, Maxon Computer acquired Red Giant Software, it is a developer of special effects and motion graphics software for the entertainment industry.
• In April 2019, Maxon Computer acquired Redshift Rendering Technologies, it develops the award-winning Redshift, the fastest production-quality of the world, final-frame GPU renderer.

Major Market Segments Covered

By Product Type

• 2D Animation
  • Software
  • hardware
  • Services
• 3D Animation
  • Software
  • hardware
  • Services
• Stop Motion
  • Software
  • hardware
  • Services
• Other
  • Software
  • hardware
  • Services

By Industry

• Direct
• Education
• Media and Entertainment
• Aerospace and Defense
• Manufacturing
• Automotive
• Healthcare
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa