12.4% Growth Expected in the Global Animation & Gaming Market

According to a report recently published by Research & Market, the Global Animation & Gaming Market is expected to grow by 12.94% from 2011 and 2016, going from $122.20 billion in 2010 to $242.93 billion by 2016. North America remains the biggest segment of the industry, and represents about 42% of the overall share of the market.

But the most encouraging piece of news in this announcement is that there seems to be huge growth in the registration of patents for animation. This shows that people are not only feeling buoyant about the future but ready and willing to invest in this industry. Even better news for America is that the US leads the market for animation patents. 

While this looks like extraordinary good news, it is always easy to get carried away with stats like these, so I took the time to check out other sources to see if other market experts had similar views on what this industry holds for us in terms of growth.

In a report called “Back in the Spotlight, KPMG predicted that the Animation & VFX industry would grow at a CAGR (Compounded Annual Growth Rate) of 19% globally between 2009 and 2014. 

And while scrolling through the best of last week’s news, I also noticed and article entitled: “U.S., Global Ad Growth to Accelerate in 2012 Driven by Special Events”. According to the journalist in the Hollywood Reporter, events like the Summer Olympics Games in London, the European Soccer Championships and Japan’s recovery from the earthquake is set to add $7 billion to ad spending in 2012. This will be good news for the CG industry as more and more TV ads now make use of VFX.

At a time when the global economy is sounding rather gloomy, it is very exciting to see that the entertainment industry is still growing. All this data builds a positive and encouraging picture for all the young creative people looking to join our industry.

You can read more about this announcement here, and you can also read more the state of the CG industry in our recently published report "Careers in CG".