India Animation Market Assessment, By Categories [2D Animation, 3D Animation, Computer-Generated Imagery (CGI), Visual Effects (VFX), Web Animation], By Components [Hardware, Software, Services], By End-User [Media & Entertainment, Education & Academics,

India Animation Market Assessment, By Categories [2D Animation, 3D Animation, Computer-Generated Imagery (CGI), Visual Effects (VFX), Web Animation], By Components [Hardware, Software, Services], By End-User [Media & Entertainment, Education & Academics, Architecture & Construction, Government, Defence, Healthcare & Life Sciences, Manufacturing, Others], By Region, Opportunities, and Forecast, FY2017-FY2031F

The India Animation Market is projected to reach USD 7.41 billion by FY2031 from USD 1.23 billion in FY2023, growing at a CAGR of 25.16% for the forecast period between FY2024 and FY2031 owing to increased internet usage and telecom revolution in the nation. With the advent of telecom revolution, internet connectivity became easy and cheap impacting the content industry as a whole along with animation market since it is being heavily used in content creation.

Videos, shots, both animated movies and cartoon movies and cartoon serials became accessible owing to brilliant network connectivity in India. Already 5G is being rolled out in the country from October 2022 and 4G is already established with highest mobile network speed of 30 MBPS in January and February 2023. Broadband average speed is over 50 MBPS and highest is 1 GBPS.

Due to the influence of western culture, the Indian audience is inclined in experiencing new modes of entertainment that deliver realistic visuals and movies. In addition to movies, 3D mobile games and applications are in high demand. The market is also driven by the development of 3D stereoscopic gaming with the help of 3D animation technology.

The switch to the digital form of advertisements from the traditional mode adopted by key players has increased the demand for animation in India. Moreover, the development of high-precision IoT networks, increasing usage of smartphones and shifting lifestyles are some major factors that are benefiting the market growth.

Over the years, animation has evolved from hand-drawn cartoons to stop-motion animation and now computer-generated graphics. The animation industry has come a long way since its inception, and it is now a vital part of the entertainment industry.

Education Sector Has Contributed to the Market Growth

India is steadily becoming a hub for animation and visual effects due to its enormous workforce, low production costs and advantages such as excellent English-speaking software engineers and a pool of artistic talent. Animation education has seen remarkable expansion and India will soon be recognized for the creation of new institutions that provide degrees in these fields to eager students. Moreover, educational animations encourage students to explore complicated aspects and foster their creativity. Edtech platforms are quickly filling the many obvious gaps in India's traditional schooling system by using creative and technological potential. As of March 2023, over 200 EdTech companies are providing professional animation courses, which is expected to grow from here.

3D Animation Dominates the India Animation Market

The segment of 3D animation held the biggest revenue share of nearly 40% in 2022, and it is expected that this dominance will continue till the year 2030. Animation is about motion, and in order to convey this motion, things must be rendered inert. A crucial component of animation and special effects, 3D modelling produces fully animated digital objects. Indian Animation industry became popular after release of movie “Narnia” whose animation was completely conducted on Indian soil. It triggered the animation industry of India and as of 2022, India is a part of almost all the big budget Hollywood movies including Marvel and DC Studio motion pictures.

Impact of COVID-19 on India Animation Market

During the pandemic, there was a shutdown of theatres due to the lockdown restrictions, which led to an inclination of the population toward OTT platforms which benefitted the India animation market. Additionally, the production discipline for the animation market is similar to that of the IT sector, this made it easier for the companies operating in the animation sector to transform to virtual working, leading to the expansion of the market.

On the other hand, as there are several actors involved in the creation of animated films, several studios were negatively impacted by the delays in outsourced work. Productions of many projects had to be rescheduled, and deliveries got delayed, even cancelled. Some companies in the animation industry experienced immediate financial losses and lost prospects. Furthermore, new project launches have been more challenging, especially when incorporating foreign actors and partners.

Key Players Landscape and Outlook

In India, key players are focusing more on expansion since projects are flooded in the country with decline in Indian Rupee this year. Weak and depreciating currency is playing a pivotal role in projects inflow since the cost is directly 1/80th the cost of project of a strong currency country. Several international companies are expanding and acquiring local India players to better support their customer base and expand their reach within the country and internationally.

Cinesite Group, a UK based animation studio acquired Assemblage, an India based VFX Studio, which was the animation leader in Asia not just India till 2022.

Market Xcel’s reports answer the following questions:

What is the current and future market size of the product/service in question globally or specific to different countries?

How are the markets divided into different product/service segments and the market size and growth of each segment?

What is the market potential of different product segments and their invest case?

How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

What is the business environment and regulatory landscape specific to the product/service?

1. Research Methodology
2. Project Scope
3. Product Definitions
4. Impact of COVID-19 on the India Animation Market
5. Impact of Russia-Ukraine War on the India Animation Market
6. Executive Summary
7. Voice of Customer
7.1. Market Awareness and Product Information
7.2. Brand Awareness and Loyalty
7.3. Factors Considered in Purchase Decision
7.3.1. Brand Name
7.3.2. Quality
7.3.3. Quantity
7.3.4. Price
7.3.5. Product Specification
7.3.6. Ease of Use
7.3.7. Image Quality
7.3.8. Technical Support
7.4. Frequency of Purchase
7.5. Medium of Purchase
8. India Animation Market Outlook, FY2017-FY2031F
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Categories 2D Animation 3D Animation Computer-Generated Imagery (CGI) Visual Effects (VFX) Web Animation
8.2.2. By Components Hardware Software Services
8.2.3. By End-User Media & Entertainment Education & Academics Architecture & Construction Government Defence Healthcare & Life Sciences Manufacturing Others
8.2.4. By Region North South East West & Central
9. Market Mapping, FY2023
9.1. By Categories
9.2. By Components
9.3. By End-User
9.4. By Region
10. Macro Environment and Industry Structure
10.1. Supply Demand Analysis
10.2. Import Export Analysis – Volume and Value
10.3. Supply/Value Chain Analysis
10.4. PESTEL Analysis
10.4.1. Political Factors
10.4.2. Economic System
10.4.3. Social Implications
10.4.4. Technological Advancements
10.4.5. Environmental Impacts
10.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
10.5. Porter’s Five Forces Analysis
10.5.1. Supplier Power
10.5.2. Buyer Power
10.5.3. Substitution Threat
10.5.4. Threat from New Entrant
10.5.5. Competitive Rivalry
11. Market Dynamics
11.1. Growth Drivers
11.2. Growth Inhibitors (Challenges, Restraints)
12. Key Players Landscape
12.1. Competition Matrix of Top Five Market Leaders
12.2. Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)
12.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
12.4. SWOT Analysis (For Five Market Players)
12.5. Patent Analysis (If Applicable)
13. Pricing Analysis
14. Case Studies
15. Key Players Outlook
15.1. Reliance MediaWorks Ltd
15.1.1. Company Details
15.1.2. Key Management Personnel
15.1.3. Products & Services
15.1.4. Key Market Focus & Geographical Presence
15.1.5. Financials (As reported)
15.1.6. Recent Developments
15.2. O’Reilly Media, Inc.
15.3. The Walt Disney Company (Pixar Animation Studios)
15.4. Maya Entertainment Ltd.
15.5. Toonz Entertainment Pte. Ltd.
15.6. Sony Pictures Entertainment Inc.
15.7. Prime Focus Ltd.
15.8. Pixelloid Studios Private Limited
15.9. Graphic India Pte. Ltd.
15.10. Charuvi Design Labs Pvt. Ltd.
*Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work
16. Strategic Recommendations
17. About Us & Disclaimer

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