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India 3D Content Creation Market for Media and Entertainment Industry To Generate Revenue Worth $287.7 Million by 2025

India 3D Content Creation Market for Media and Entertainment Industry To Generate Revenue Worth $287.7 Million by 2025

Published: July 2020

The growing adoption of visual effects (VFX) in Indian movies, expanding Indian gaming industry, and increasing social media and over-the-top (OTT) platform usage are the prime factors that are driving the growth of the demand for 3D content creation solutions in the Indian media and entertainment sector. Owing to these factors, the Indian 3D content creation market for media and entertainment industry is projected to reach $287.7 million by 2025, witnessing a CAGR of 13.9% during the forecast period (2020–2025).

The lockdown scenarios, due to the coronavirus (COVID-19) pandemic, are affecting multiple subsectors of the media and entertainment industry. Due to a huge decline in big-scale productions and live shoots and restricted cash flows, the market has been affected negatively. However, content creators are projecting that animation and VFX will positively impact their production growth in the near future. Professionals and industry experts in these fields are expecting a rise in budgets and increase in the number of projects in the near future, as digital businesses are now booming more in comparison to traditional media. Such factors are projected to positively impact the animation and VFX industry, thereby propelling the growth of the 3D content creation market for the media and entertainment industry in India.

VFX Category Held Largest Market Share in 2019 among all End-Use Categories

On the basis of end use, the Indian 3D content creation market for media and entertainment industry has been categorized into VFX, gaming/interactive, broadcasting, 3D animation, architectural design visualization, e-commerce, private training institutes, e-learning/EduTech, graphic designing, event management/exhibition/retail, and others. Among these, the VFX category held the largest revenue share in 2019, as this technology has been extensively utilized in domestic movies, including 2.0, Zero, Thugs of Hindostan, Life of Pie, and Shivaay. Further, the demand for VFX is rising in advertisements and games, in order to engage better with customers, thereby driving the category growth in the market.

Based on component, the Indian 3D content creation market for media and entertainment industry has been categorized into software, hardware, and service. Among these, the software category is projected to witness the fastest growth during the forecast period, due to the growing animation and VFX industry in the country. In addition, the country is witnessing a rise in the number of projects being outsourced by overseas clients, which has benefited several animation and VFX studios in India, since the clients are outsourcing the development of special effects and animation characters to Indian companies.

Among all geographies, tier 1 cities held the largest share in the Indian market for 3D content creation solutions, for the media and entertainment industry, in 2019. Tier 1 cities include the prominent urban areas of Delhi/National Capital Region (NCR), Mumbai, Bangalore, Hyderabad, and Pune, where all the major animation and VFX studios, private training institutes, and other end users have set up their base. There are several companies in Mumbai that are involved in international projects. Furthermore, numerous Bangalore-based companies are involved in the South Indian film industry, which produces a significant number of movies using the VFX technology.

Mergers and Acquisitions Are Notable Strategic Measures among Key Players in Industry

Players in the Indian 3D content creation market for media and entertainment industry are merging with and acquiring other companies, in order to improve their market presence. For instance, in May 2020, Unity Technologies Inc. announced the acquisition of Finger Food Studios Inc., which is a professional services organization. Finger Food Studios Inc. will join hands with Unity Industrial, a division of Unity Technologies Inc., which offers scalable real-time 3D (RT3D) solutions and services.

Browse report overview with detailed TOC on "India 3D Content Creation Market for Media and Entertainment Industry Research Report: By Component (Software, Hardware, Service), Organization (Large Enterprises, SMEs), End Use (VFX, Broadcasting, Gaming/Interactive, 3D Animation, Architectural Design Viz, E-Commerce, Private Training Institutes, E-Learning/EduTech, Graphic Designing, Event Management/Exhibition/Retail) - Global Industry Analysis and Growth Forecast to 2025" at:https://www.psmarketresearch.com/market-analysis/india-3d-content-creation-media-entertainment-industry

Some of the major players operating in the Indian 3D content creation market for media and entertainment industry include Autodesk Inc., Adobe Inc., NVIDIA Corporation, Corel Corporation, Stichting Blender Foundation, SAP SE, Unity Technologies Inc., Maxon Computer GmbH, Side Effects Software Inc. (SideFX), Chaos Software Ltd., Trimble Inc., NEXT LIMIT SL, NewTek Inc., and Strata Mixed Reality Inc.