The generative ai in animation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Generative AI In Animation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The generative AI in animation market size has grown exponentially in recent years. It will grow from $1.28 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 36.2%. The growth in the historic period can be attributed to the automation of animation processes, realistic animations based on real-world footage, experimentation with different animation styles, increased creative productivity, and widespread adoption and integration.
The generative AI in animation market size is expected to see exponential growth in the next few years. It will grow to $6.04 billion in 2028 at a compound annual growth rate (CAGR) of 36.4%. The growth in the forecast period can be attributed to ethical considerations, cross-platform compatibility, interactivity integration, efficiency improvements, realism enhancement and accessibility enhancement. Major trends in the forecast period include procedural animation, style transfer for animation, enhanced scene generation, AI-driven lip sync and real-time character animation.
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Scope Of Generative AI In Animation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Generative AI In Animation Market Overview
Market Drivers –
The rising gaming industry is expected to propel the growth of the generative AI in animation market going forward. The gaming industry encompasses the development, production, distribution, and monetization of video games across various platforms such as consoles, PCs, and mobile devices. The rising gaming industry can be attributed to increasing accessibility through mobile platforms and a growing global audience embracing gaming as both entertainment and a competitive activity. Generative AI is revolutionizing gaming animation by autonomously creating lifelike characters and environments, enhancing immersion, and reducing development time. Its procedural generation capabilities offer infinite possibilities, shaping dynamic narratives and expansive virtual worlds. For instance, in January 2023, according to the Entertainment Software Association, a US-based trade association of the video game industry, in December 2022, U.S. consumer spending on video game content, hardware, and accessories reached $7.6 billion, up 2% from the same month in 2021 and totaling $56.6 billion for the whole year of 2022. Therefore, the rising gaming industry is driving the growth of the generative AI in animation market.
Market Trends –
Major companies operating in the generative AI in animation market are focused on developing new services, such as browser-based generative AI service, to boost their revenue in the market. A browser-based generative AI services revolutionize the animation industry by empowering animators with advanced tools and techniques for creating compelling and visually stunning animations more efficiently and effectively. For instance, in March 2024, DeepMotion Inc., a US-based cloud-based deep learning motion intelligence company, launched Saymotion, a new browser-based generative AI service and a creator platform that utilizes generative AI technology to transform text prompts into intricate 3D animations effortlessly in minutes. This platform uses natural language processing (NLP) to convert text prompts into 3D animations and generates animation in FBX (Filmbox), GLB (GL Binary), and BVH (Biovision Hierarchy) formats that can be utilized in DCC software and game engines. Users can create detailed animations of human characters by inputting text prompts that describe the character, the action being performed, and the animation’s direction, orientation, or style.
The generative ai in animation market covered in this report is segmented –
1) By Type: Transformers, Generative Adversarial Networks, Variational Autoencoders, Other Types
2) By Components: Solutions, Services
3) By Application: Television And Over-The-Top, Films, Advertisements, Gaming, Other Applications
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Regional Insights –
North America was the largest region in the generative AI in animation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in animation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the generative AI in animation market report are <b>Alphabet Inc.; Microsoft Corporation; Meta Platforms Inc.; Amazon Web Services Inc.; Netflix Inc.; NVIDIA Corporation; Adobe Inc.; Autodesk Inc.; Epic Games Inc.; Pixar Inc.; Wētā FX; The Cinesite Group; Hugging Face Inc; MAXON Computer GmbH; Synthesia A S; Kinetix; Runway AI Inc; AI21 Labs; Descript Inc; Toon Boom Animation Inc.; Side Effects Software Inc.; Wibbitz Inc; Midjourney Inc; Lumen5 Technologies Ltd; RADiCAL Solutions Inc </b>
Table of Contents
1. Executive Summary
2. Generative AI In Animation Market Report Structure
3. Generative AI In Animation Market Trends And Strategies
4. Generative AI In Animation Market – Macro Economic Scenario
5. Global Generative AI In Animation Market Size and Growth
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32. Global Generative AI In Animation Market Competitive Benchmarking
33. Global Generative AI In Animation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Generative AI In Animation Market
35. Generative AI In Animation Market Future Outlook and Potential Analysis
36. Appendix
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