Growth And Development In Animation Industry
Animation Industry is growing at a rapid pace within India and overseas. Some of the countries where the animation industry is leading include Korea, France, Japan, Britain, China, Germany, and Canada etc. Through this article, we will discuss the ups and downs of the animation industry in the last consecutive years. We will be focusing primarily on the growth, revenue generation, GDP percentage growth, employment speed, and country outsourcing.
There has been a commendable increase in the demand for animation that in turn increased the broadcasting hours by cable and satellite TV. Besides animation, the demand for AR and VR has also increased exponentially.
With easy accessibility of technology, Animation has become available to the masses and it has been announced as one of the fastest growing industries. The statistics over time reflect the massive growth of the animation industry in comparison to other industries. Let us now have a look at the statistics reflecting the growth of the Animation Industry.
In the year 2006, the gross income from the Animation Industry was 0.25 US Billion dollars. In the next six years, with an average escalation of 0.10 US Billion dollars, the gross income reached 0.94 US Billion Dollars in 2012.
The size of the global animation industry is 222 billion USD according to the year 2013 when it was checked last. The VFX industry is emerging fast as a part of film-making. India is providing a cutting edge work in the field of post-production and in 2013; it witnessed an increase of 13%. The size of the streaming market for animation content is seen to be growing at a rate of 8% from 2017 onward.
We can categorize the growth of animation and media industry into four categories as listed below:
1. Robust Demand: There has been a rapid growth of young population interested to use 3G, 4G and other portable devices.
2. Attractive Opportunities: Television and AGV segments lead the industry growth and in this digital era, it helps to strengthen the technologies as well.
3. Supported Policy: With the Cable television networks amendment act, Government helps to digitalize the television networks.
4. Investments: Animation sector has also increased investment like five private equity investment deals within 6 months.
The Gross Domestic Product (GDP) of the animation industry was -0.2% in 1980 and it increased to 1.6% in the year 2016. Indian Animation Industry and VFX also grew at a rate of 16.4% in the year 2016 while animation grew at a steady rate of 9%. The GDP growth increased to 7.5% in the year 2015-16 and 8% in 2017-18. Investment growth is also expected to increase at a rate of 12%.
Another factor is the Revenue Generation. The Animation Industry is seen to be generating high revenues. The Indian animation has gained an appreciable amount of international appeal, especially for its mythological content. The amount of revenue has increased from 31 Billion Indian rupees in 2011 to 80.4 billion in 2018. The generated revenue is expected to reach 113.6 billion in the year 2020. The Mythological characters have brought a substantial change in the animation industry during the year 2008 to 2012. Revenue Generation is influenced by Multimedia studios, Cable channel, and TV broadcast companies. New sources of revenues are seen to be impacting DVD sales and Intellectual Property Licensing.
India is becoming an influential hub for outsourcing animation production services. It is also developing a domestic market for the viewers at an increasing rate. The Animation market has increased from 400 US Dollars in the year 2008 to 1000 US Dollars in 2012.
The outsourcing of multimedia animation to India has happened due to a few reasons. These include traditional inclination towards creative arts, India’s vast outsourcing industry, world-class animation studios, and efficient English-speaking animators. India’s hi-tech animation studios with cost-efficient and high-quality services make it a hub for animation outsourcing. India is a brand name in designing and creating animation in relation to an exact specification. Outsource computer animation production is received from North American and European film and television program producers.
The next factor which is of considerable importance for the employees is the Employment speed. The animation industry has proved to be a boon for the onlookers of jobs. The jobs in multimedia, art, and animation have witnessed an increase in 78,000 in the year 2008 to 90,000 in 2012. The employment rate of animators is expected to grow by 10% in the next 10 years. The demand for animation and visual effects is increasing in a fast manner.
For the rapid growth of the Animation Industry, it is important that the animators and artists abide by a few roles and responsibilities:
1. Animators / Artists must use computer generated programs to create Animation.
2. They should also work in a team.
3. They must keep researching on the upcoming projects to create realistic animation.
4. They must develop storyboards in Animation.
5. They should edit the animation as per the feedback received.
6. They must develop timelines and review deadlines.
7. Animators must meet the clients.
Tag: Animation Industry Article, Animation Industry Opportunities, Key Trends, Data on Animation, Animation & VFX Industry
Animation has done good so far
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