Outlook on the World's Animation & VFX Markets, 2020-2025 - Streaming Video is the Fastest-Growing Distribution Channel for Animation and is Witnessing Double-Digit Growth

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Dublin, Jan. 14, 2020 (GLOBE NEWSWIRE) -- The report has been added to offering.

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 on 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 with 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 of animation, VFX and game 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.

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Globe Newswire: 12:29 GMT Tuesday 14th January 2020

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