The India Animation Market is projected to reach USD 16.60 billion by FY2031 from USD 1.37 billion in FY2023, growing at a CAGR of 37.76% for the forecast period between FY2024 and FY2031 owing to increased internet usage and telecom revolution in the nation.
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The India Animation Market is projected to reach USD 16.60 billion by FY2031 from USD 1.37 billion in FY2023, growing at a CAGR of 37.76% for the forecast period between FY2024 and FY2031 owing to increased internet usage and telecom revolution in the nation. With the advent of telecom revolution, internet connectivity became easy and cheap impacting the content industry as a whole along with animation market since it is being heavily used in content creation.
Videos, shorts, both animated movies and cartoon movies and cartoon serials became accessible owing to brilliant network connectivity in India. Already 5G is being rolled out in the country from October 2022 and 4G is already established with highest mobile network speed of 30 MBPS in January and February 2023. Broadband average speed is over 50 MBPS and highest is 1 GBPS.
Due to the influence of western culture, the Indian audience is inclined in experiencing new modes of entertainment that deliver realistic visuals and movies. In addition to movies, 3D mobile games and applications are in high demand. The market is also driven by the development of 3D stereoscopic gaming with the help of 3D animation technology.
The switch to the digital form of advertisements from the traditional mode adopted by key players has increased the demand for animation in India. Moreover, the development of high-precision IoT networks, increasing usage of smartphones and shifting lifestyles are some major factors that are benefiting the market growth.
Over the years, animation has evolved from hand-drawn cartoons to stop-motion animation and now computer-generated graphics. The animation industry has come a long way since its inception, and it is now a vital part of the entertainment industry.
India is steadily becoming a hub for animation and visual effects due to its enormous workforce, low production costs and advantages such as excellent English-speaking software engineers and a pool of artistic talent. Animation education has seen remarkable expansion and India will soon be recognized for the creation of new institutions that provide degrees in these fields to eager students. Moreover, educational animations encourage students to explore complicated aspects and foster their creativity. Edtech platforms are quickly filling the many obvious gaps in India's traditional schooling system by using creative and technological potential. As of March 2023, over 200 EdTech companies are providing professional animation courses, which is expected to grow from here.
The segment of 3D animation holds the biggest revenue share of nearly 40% in 2022, and it is expected that this dominance to continue till the year 2030. Animation is about motion, and in order to convey this motion, things must be rendered inert. A crucial component of animation and special effects, 3D modelling produces fully animated digital objects. Indian Animation industry became popular after release of movie “Narnia” whose animation was completely conducted on Indian soil. It triggered the animation industry of India and as of 2022, India is a part of almost all the big budget Hollywood movies including Marvel and DC Studio motion pictures.
During the pandemic, there was a shutdown of theatres due to the lockdown restrictions, which led to an inclination of the population toward OTT platforms which benefitted the India animation market. Additionally, the production discipline for the animation market is similar to that of the IT sector, this made it easier for the companies operating in the animation sector to transform to virtual working, leading to the expansion of the market.
On the other hand, as there are several actors involved in the creation of animated films, several studios were negatively impacted by the delays in outsourced work. Productions of many projects had to be rescheduled, and deliveries got delayed, even cancelled. Some companies in the animation industry experienced immediate financial losses and lost prospects. Furthermore, new project launches have been more challenging, especially when incorporating foreign actors and partners.
India Animation Market: Report Scope
“India Animation Market Assessment, Opportunities, and Forecast, FY2016-FY2030F” is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of the current state of affairs of the animation market in India, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities, and forecasts (FY2023-FY2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year of the Analysis |
FY2023 |
Historical Period |
FY2017-FY2023 |
Forecast Period |
FY2024-FY2031 |
Projected Growth Rate |
CAGR of 37.76% between 2023 and 2030 |
Revenue forecast in 2030 |
USD 16.60 billion |
Units |
Revenue in USD Billion |
Segments Covered |
Categories, Components and End-User |
Regions Covered |
North, West and Centre, East, South |
Key Companies Profiled |
Reliance MediaWorks Ltd, O’Reilly Media, Inc., The Walt Disney Company (Pixar Animation Studios), Maya Entertainment Ltd., Toonz Entertainment Pte. Ltd., Sony Pictures Entertainment Inc., Prime Focus Ltd., Pixelloid Studios Private Limited, Graphic India Pte. Ltd., Charuvi Design Labs Pvt. Ltd. |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In this report, India Animation Market has been segmented into the following categories:
1.1. 2D Animation
1.2. 3D Animation
1.3. Computer-Generated Imagery (CGI)
1.4. Visual Effects (VFX)
1.5. Web Animation
2.1. Hardware
2.2. Software
2.3. Services
3.1. Media & Entertainment
3.2. Education & Academics
3.3. Architecture & Construction
3.4. Government
3.5. Defence
3.6. Healthcare & Life Sciences
3.7. Manufacturing
3.8. Others
4.1. North
4.2. South
4.3. East
4.4. West & Central
In India, key players are focusing more on expansion since projects are flooded in the country with decline in Indian Rupee this year. Weak and depreciating currency is playing a pivotal role in projects inflow since the cost is directly 1/80th the cost of project of a strong currency country. Several international companies are expanding and acquiring local India players to better support their customer base and expand their reach within the country and internationally.
Cinesite Group, a UK based animation studio acquired Assemblage, an India based VFX Studio, which was the animation leader in Asia not just India till 2022.
Market Xcel’s reports answer the following questions:
· What is the current and future market size of the product/service in question globally or specific to different countries?
· How are the markets divided into different product/service segments and the market size and growth of each segment?
· What is the market potential of different product segments and their invest case?
· How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
· What is the business environment and regulatory landscape specific to the product/service?
· Reliance MediaWorks Ltd
· O’Reilly Media, Inc.
· The Walt Disney Company (Pixar Animation Studios)
· Maya Entertainment Ltd.
· Toonz Entertainment Pte. Ltd.
· Sony Pictures Entertainment Inc.
· Prime Focus Ltd.
· Pixelloid Studios Private Limited
· Graphic India Pte. Ltd.
· Charuvi Design Labs Pvt. Ltd.
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