DUBLIN, May 6, 2022 /PRNewswire/ — The “Europe Animation, VFX & Video Games: Strategies, Trends & Opportunities (2022-26)” report has been added to ResearchAndMarkets.com’s offering.
The European animation industry is growing fast and an increasing number of films produced in Europe have attracted global audiences and are distributed worldwide.
The boom in European animation can be attributed to the world class animation training schools, funding schemes, government tax incentives, Europe-wide as well as global collaborations through co-productions and availability of world class talent.
Europe produces about 40 animation films every year. About 15% of European movie admissions goes into animation and one fifth of admissions to animation films in Europe goes to European productions. However, the market is dominated by American films that garner about 70% of admissions.
The trend is in favour of local European animation productions as far as TV animation series is concerned. There are over 300 children’s channels in the EU as well as specific on-demand services for kids. Moreover, about 65% of animation content in European TV channels is produced locally.
European animation productions targeted at television have achieved global success, however, in the case of movies, it is the major American studios that dominate the market. Film based content such as video or mobile games is on the upswing giving rise to new partnerships as well as new business and revenue models. Given the global economic crunch, producers need to diversify their sources of funding and explore sources such as co-productions, equity financing and other forms of loans.
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 of 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.
EMERGING TRENDS IN ANIMATION, VFX & VIDEO GAMES INDUSTRY
- The combination of live action and animation will alter the form, as well as the content, of film animation.
- Animation is no longer a profession limited to animators with increasing participation from computer professionals, programmers, technicians etc.
- The evolution of visual effects (VFX), augmented reality (AR) and virtual reality (VR) technologies is dramatically changing both the creation and consumption of films, videos, games, and more.
- Augmented Reality and Virtual Reality adoption will drive the demand for animation content.
- Production work is moving around the world – tax incentives, regional low labor costs and subsidies put pressure on existing companies to reduce costs and set up facilities in tax advantaged or low cost regions.
- Media consumption habits are changing rapidly, windows for film releases are narrowing, and follow-on markets are shifting from television, cable, DVD and rentals to streaming and digital downloads.
- The international film market in several emerging markets is growing quickly and creating new opportunities. Regulations in several countries limit imported animation content without a certain amount of local participation and studios are collaborating with local partners to produce content.
- Although 2D animation will survive, it will be largely in the form of hybrid 2D/3D animation. As well as reducing costs, using CGI for backgrounds allows for a more dynamic camera. The training offered to animators are biased in favor of CGI and so artists with traditional 2D skills are becoming harder to find.
- The changing viewing habits favour short productions as a form of entertainment. The viewing habits generally favor short-form content that can be turned out quickly and cheaply.
- Merchandise is already a major form of revenue generation for animated films and in future it could form a much larger share of revenues.
- Artificial Intelligence, machine learning & deep learning are being leveraged to drive hyperpersonalisation for video games.
- Artificial Intelligence and Machine Learning based techniques are being used for in-game analytics, customer acquisition, retention, cross sell, churn, classify player behavior etc.
- Micro-segmentation of fans is emerging as eSports leagues and tournaments are consolidating various genres, platforms and viewing experiences by careful customer segmentation, targeting and positioning.
- In video games, predictive analytics can be used to forecast when a player will stop playing, if a player will convert from a non-paying to a paying user, what types of items players will purchase, classify player behavior, etc.
- Cloud Gaming services which 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 online games market to grow.
Key Topics Covered:
1. Executive Summary
2. European Animation Industry
3. Market size of European Animation, VFX & Games industry
4. Germany Animation, VFX & Video Games Industry
5. UK Animation, VFX & Video Games Industry
6. Italy Animation, VFX & Video Games Industry
7. France Animation, VFX & Video Games Industry
8. Spain Animation, VFX & Video Games industry
9. Denmark Animation, VFX & Video Games
10. Sweden Animation, VFX & Video Games
11. Hungary Animation, VFX & Video Games
12. Russia Animation, VFX and Video Games
13. Norway Animation, VFX & Video Games
14. Czech Animation, VFX & Video Games
15. Slovakia Animation, VFX & Video Games
16. Slovenia Animation, VFX & Video Games
17. Turkey Animation, VFX & Video Games
18. Poland Animation, VFX & Video Games
19. Netherlands Animation, VFX & Video Games
20. Finland Animation, VFX & Video Games
For more information about this report visit https://www.researchandmarkets.com/r/t6zfg5
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SOURCE Research and Markets