Dublin, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The "African Animation, VFX & Video Games: 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 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 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 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.
Cloud Gaming services that are growing at an exponential pace would need the right pricing model to both drive adoption and generate sufficient returns for platforms and publishers. The availability of low cost micro-payment systems is allowing users to pay for access or download small quantities of digital content and is the key for the online games market to grow. Artificial Intelligence and Machine Learning based techniques are being used for in-game analytics, customer acquisition, retention, cross sell, churn, classify player behavior, etc.
The market size of the Global Animation, VFX & Video Games industry was US$ 261 billion in 2020
Most of the segments in the animation industry are growing at the rate of 2-3% YoY
The market size of the Global Video Gaming industry was US$ 105 billion in 2020
The production cost per animation movie ranges anywhere between US$ 20 US$ 300 million
The spend on special effects as a percent of production cost is about 20%-25%
Key Topics Covered:
1. Global Animation & VFX Industry
2. Animation & VFX Market Segments
3. Emerging Trends & Future of Animation & VFX
4. Global Television Animation Content Demand
5. Animation & VFX Content Creation
6. Audience Dynamics
7. Economics of Animation & VFX
8. Guidelines for Setting up an Animation Studio
10. Managing an Animation & Video Games Studio
11. Global Video Games Industry
12. Africa Animation, VFX & Video Games
20th Century Fox
Big Fish Games
Deep Silver / Koch
Egypt Animation Studios
Elite Media Kenya
Lucky Boom Games
Nexters Global LTD
Shy the Sun
Sirnare Creative Studio
Small Giant Games
Ten Square Games
Tencent Mobile International
The Lego Group
The Pokemon Company Intl.
The Tetris Company
The Video Lab
The Walt Disney Company
The Weinstein Company
For more information about this report visit https://www.researchandmarkets.com/r/bwz957
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