DUBLIN, May 6, 2022 /PRNewswire/ — The report “Europe Animation, VFX & Video Games: Strategies, Trends & Opportunities (2022-26)” has been added to from ResearchAndMarkets.com offer.
The European animation industry is experiencing rapid growth and an increasing number of films produced in Europe have attracted a global audience and are distributed around the world.
The European animation boom can be attributed to world-class animation training schools, funding programs, government tax incentives, Europe-global as well as global collaborations through co-productions and the availability of world-class talent.
Europe produces about 40 animated films each year. Around 15% of admissions to European films are devoted to animation and a fifth of admissions to animation films in Europe goes to European productions. However, the market is dominated by American films which account for approximately 70% of admissions.
The trend is in favor of local European animation productions when it comes to TV animation series. There are over 300 children’s channels in the EU as well as specific on-demand services for children. In addition, approximately 65% of the animation content of European television channels is produced locally.
European animation productions for television have achieved worldwide success, but in the case of cinema, it is the major American studios that dominate the market. Cinematic content such as video or mobile games are booming, giving rise to new partnerships as well as new business and revenue models. Given the global economic crisis, producers need to diversify their sources of financing and explore sources such as co-productions, equity financing and other forms of loans.
The demand for animation, visual effects and video games has increased with the increase in targeted cable and satellite broadcast hours, the availability of low-cost Internet access, the penetration of mobile devices and the growing popularity of streaming video. Additionally, the demand for animation and visual effects content to power immersive experiences such as augmented reality and virtual reality is growing exponentially.
Rapid advances in technology have made animation, visual effects and games accessible to more people, and this industry has become one of the fastest growing segments of the global media and entertainment market. We are seeing more and more animation, VFX and game production taking place in a globally distributed fashion.
Production work is going global with countries as well as regions offering tax incentives, subsidies, financial support, low regional labor costs, and more. and companies reduce their costs by setting up facilities in these regions.
Cloud computing plays a key role in character rendering and modeling processes, as cloud-based rendering of anime movies is more effective and efficient as it reduces time and cost compared to traditional rendering.
EMERGING TRENDS IN THE ANIMATION, VFX AND VIDEO GAMES INDUSTRY
The combination of live action and animation will change the form, as well as the content, of cinematic animation.
Animation is no longer a profession limited to animators with an increasing participation of IT 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 movies, videos, games, and more.
The adoption of augmented reality and virtual reality will drive the demand for animation content.
Production work moves around the world – tax incentives, low regional labor costs and subsidies push existing companies to cut costs and establish facilities in tax-advantaged or low-cost regions .
Media consumption habits are changing rapidly, movie release windows are shrinking, and following markets are shifting from TV, cable, DVD and rental to streaming and digital downloads.
The international film market in several emerging markets is growing rapidly and creating new opportunities. Regulations in several countries limit imported animation content without some local involvement, and studios work with local partners to produce content.
Although 2D animation will survive, it will largely be in the form of hybrid 2D/3D animation. In addition to reducing costs, using CGI for backgrounds allows for a more dynamic camera. The training offered to animators is skewed in favor of CGI, and artists with traditional 2D skills are therefore increasingly hard to find.
Changing viewing habits favor short productions as a form of entertainment. Viewing habits generally favor short content that can be produced quickly and cheaply.
Merchandise is already a major form of revenue generation for animated films and in the future it could be a much larger portion of revenue.
Artificial intelligence, machine learning, and deep learning are being leveraged to drive hyper-personalization in video games.
Artificial intelligence and machine learning based techniques are used for in-game analytics, customer acquisition, retention, cross-selling, churn, player behavior classification, and more.
Fan micro-segmentation is emerging as esports leagues and tournaments consolidate diverse genres, platforms and viewing experiences through careful customer segmentation, targeting and positioning.
In video games, predictive analytics can be used to predict when a player will stop playing, whether a player will switch from a non-paying user to a paying user, what types of items players will buy, classify player behavior , etc.
Cloud Gaming services that are growing at an exponential rate 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 allows users to pay to access or download small amounts of digital content and is key to the growth of the online gaming market.
Main topics covered:
2. European animation industry
3. European Animation, Visual Effects and Games Industry Market Size
4. German animation, visual effects and video game industry
5. UK Animation, Visual Effects and Video Games Industry
6. Italian animation, visual effects and video game industry
7. French animation, visual effects and video games industry
8. Spanish Animation, Visual Effects and Video Games Industry
9. Denmark Animation, visual effects and video games
10. Sweden Animation, VFX and Video Games
11. Hungary Animation, VFX and Video Games
12. Russia Animation, VFX and Video Games
13. Norway Animation, Visual Effects and Video Games
14. Czech Animation, VFX and Video Games
15. Slovakia Animation, VFX & Video Games
16. Slovenia Animation, visual effects and video games
17. Turkey Animation, VFX and Video Games
18. Poland Animation, visual effects and video games
19. Dutch Animation, VFX and Video Games
20. Finland Animation, VFX and Video Games
For more information about this report visit https://www.researchandmarkets.com/r/t6zfg5
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SOURCE Research and Markets