Animation, itself is an industry spreading various options to develop and explore different factors of everyday life. The countries holding the ball in the animation market are Korea, France, Japan, Britain, China, Germany, Canada etc.
Keeping it to the point, we are here about to share the ups and downs of animation industry throughout consecutive years, taking some key factors in prime focus, like firstly the growth and then followed by revenue generation, GDP percentage growth, employment speed and country outsourcing.
The demand for animation has made a commendable increase in targeted broadcasting hours by cable and satellite TV. Alongside the demand for the animation to a powerfully immersive experience like VR and AR is increasing exponentially.
The rapid growth of infrastructure and easy accessibility of technology has made the animation available to the mass public and lately, it has been announced as one of the fastest growing industry in the dimension. Depending on the statistics we can have a vivid idea of the animated world establishing dominance along with other industries. So let’s have a quick look over the sustained period of time.
In the year 2006, the gross income of the animation industry was 0.25 US Billion dollars. Within the next six years with an average escalation of 0.10 US Billion dollars, the income reached 0.94 US Billion Dollars at 2012 Financial year.
A recent market research report states that the size of the global animation industry is 222 billion USD according to the year 2013 when it was last checked. The VFX industry is emerging very fast as a part of filmmaking. Our country is providing cutting-edge work in the field of post-production and within the year 2013, it has seen a growth of 13 per cent. The size of the streaming market for animation content is growing at a rate of 8 per cent from the year 2017.
The growth of animation and media industry can also be categorized into four sectors. We will put up a small clarification of these four,
1) Robust Demand – A rapid increase in the young population who are very interested to use 3G, 4G and portable devices has driven the demand higher in width and penetration.
2) Attractive Opportunities – Television and AGV segments can lead the industry growth and in this digital era it helps to strengthen the technologies as well. Therefore automatic growth can be seen in the animation industry.
3) Supported Policy – Government has passed the cable television networks amendment act which helps to digitalize the television networks. And the animation opportunities remain on top.
4) Investments – The sector witnessed an amount of increased investment like five private equity investment deals within six months.
Secondly, the GDP growth of the animation industry was -0.2% in 1980 and 1.6% in 2016 as per the data collected henceforth the complete increased GDP was 1.8% in 36 years.
Indian animation and VFX industry grew at 16.4 % in the year 2016 while animation alone grew at a steady rate of 9 %. According to the assumption the GDP growth is expected to become 7.5% in the 2015-2016 fiscal year, and 8% in the 2017-18 fiscal year. Along with that, the investment growth is expected to increase at a rate of 12 per cent.
Given India’s regional GDP, the projection is derived that India’s expected growth acceleration are all sourcing from business reforms and investments.
The third factor comes as the revenue generation where we have seen that Indian animation has gained an appraisable amount of international appeal especially for their charm in the mythological contents. The revenue stream has explored another new direction.
Foreseeing the revenue started with 31 Billion Indian rupees in 2011 it has reached till 80.4 Billion in the year 2018. Also, the surveyors announce a ray of hope, that the generated revenue in the year 2020 will be 113.6 Billion. Mythological characters have brought a substantial change in the animation industry during the years 2008-2012.
Revenue generation in such large format is influenced by the multinational studios, cable channel and TV broadcast companies. New sources of revenue are putting its’ effect on DVD sales and intellectual property licensing.
As a fourth point, we can declare that nowadays India is becoming an influential hub for outsourced animation production services. Along with that, it is also developing a domestic market for the viewers at an increasing rate. Starting with the market size of 400 US Dollars in 2008, it has increased to 1000 US Dollars in 2012.
There are a few short reasons for which outsourcing of multimedia animation has happened to India. Those are a traditional inclination towards creative arts, well established India’s vast outsourcing industry, world-class animation studios and very efficient English speaking animators.
India’s cost-efficient, high-quality services and hi-tech animation studios make it a hub for animation outsourcing. India is a recognizable name in designing and creating animation which is in relation to the exact specification.
Outsourced computer animation production is received from the North American and European film and television program producers.
Last but not least, which stands as an important factor for the employees is employment speed. It has started with 78000 in the year 2008 and ended up as 90000 in the year 2012 in the ground of multimedia, art and animation jobs.
Employment of animators is projected to grow 10 per cent over the next ten years. It is quite certainly faster than the average of all occupations. This amount of projected growth is for the demand for animation and visual effects which is increasing in a fast manner.