DUBLIN — (BUSINESS WIRE) — January 18, 2021 — The "Asia-Pacific Animation & VFX: Strategies, Trends & Opportunities (2021-25)" report has been added to ResearchAndMarkets.com's offering.
Global consumers are displaying a growing appetite for engaging, high-definition visual experiences. Moviegoers are demanding high quality productions with engaging visual effects and realistic animation and studios are including more animation and VFX shots into films. Consumers are consuming more immersive content across channels such as ultra-high-definition TVs, tablets and smartphones to head mounted devices.
Animation, VFX and games content is being consumed not only on Netflix, Amazon, Hulu and Twitch, but also on YouTube, Twitter and Facebook. With the growing internet penetration and access to multimedia devices, customers are spending more time on streaming digital content.
Streaming video is the fastest growing distribution channel for animation and is witnessing double digit growth and the same is expected to continue. This growth is attributed to the exponential growth in the number of online video viewers throughout the world.
The demand for animation, VFX and video gaming has expanded with the increase in targeted broadcasting hours by cable and satellite TV, availability of low cost internet access, penetration of mobile devices along with the growing popularity of streaming video.
In addition, the demand for Animation and VFX content to power immersive experiences such as Augmented Reality and Virtual Reality is growing exponentially. The rapid advancement of technology has made animation, VFX & games available to the masses, and this industry has become one of the fastest growing segments in the global media and entertainment market. We are increasingly seeing more of animation, VFX and games production taking place in a globally distributed mode.
Production work is becoming global with countries as well as regions offering tax incentives, subsidies, financial support, regional low labor costs etc. and companies are cutting costs by setting up facilities in such regions. Cloud computing is playing a key role in character rendering and modeling processes as cloud based rendering of animation films is more effective and efficient as it reduces the time and cost compared to traditional rendering.
MARKET SIZE
- The market size of Asian Animation and VFX industry was US$ 49.95 billion in 2020
- The Asian animation and VFX industry is growing at the rate of 2-5 % YoY
- 3D animation and VFX are the fastest growing segments
- The spend on special effects as a percent of production cost is about 20%-25%
- The production cost per animation movie in Asia ranges anywhere between US$ 3 Million to US$ 60 Million
Key Topics Covered:
1. Asian Animation & VFX Industry
2. Asian Television Animation Content Demand Forecast
3. Japan Animation & VFX
4. India Animation & VFX
5. China Animation & VFX
6. South Korea Animation & VFX
7. Philippines Animation & VFX
8. Taiwan Animation & VFX
9. Vietnam Animation & VFX
10. Thailand Animation & VFX
11. Singapore Animation & VFX
12. Australia Animation & VFX
13. Malaysia Animation & VFX
14. Indonesia Animation & VFX
15. Israel Animation & VFX
16. Pakistan Animation & VFX
17. Bangladesh Animation & VFX
18. United Arab Emirates Animation & VFX
19. Saudi Arabia Animation & VFX
Companies Mentioned
- Netflix
- Pokemon
For more information about this report visit https://www.researchandmarkets.com/r/61bj5e
View source version on businesswire.com: https://www.businesswire.com/news/home/20210118005258/en/
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