Global animation market forecast to hit USD381bn by 2022
The global market for animation, which forms part of the wider information technology-business process management (IT-BPM) industry, is forecast to hit USD381 billion by 2022. The forecast is for the industry to post a CAGR of 12.1% from 2017 to 2025. The value of the sector in 2016 was USD138.7 billion, according to a report released by Progressive Markets. The global animation market is segmented into 3D, 2D, and others, with the 2D animation sector contributing the highest share of the market in 2016. 3D animation, however, is expected to grow at highest CAGR of 14.9% during the forecast period. Geographically, the market is analyzed across the United States, the EU, Japan, China, India, Southeast Asia and Others. Increased outsourcing of animation services from the developing economies of Asia-Pacific such as India and Philippines are among the major revenue contributors to the animation outsourcing Industry.
