Animation and gaming industry is fast scaling new heights and the industry is poised to cross $1 billion mark. The service industry is not just confined to creating cartoon content for films, it has diversified to the next level where developing custom content and training of workforce have become an important thrust area for animation services provider.
Why it’s growing – A NASSCOM report says, “It’s no longer a sunrise industry, but it has taken various directions. The sector is expected to show significant growth in the near future as global outsourcing within the market takes off.” Animation has successfully penetrated different segments of entertainment, education and corporate training.
Cost and language advantage – According to animationboss.com, a leading animation industry news portal, “The cost of animation production in India is one fourth of North America and about 35 per cent lower than countries such as Korea and the Philippines. It’s the major driving factor.”
That’s the major reason big animation studios such as Disney and Sony Corp have set up their studios. Another reason they are attracted towards India is that it has a vast English speaking multimedia and animation experts available in the quality animation studios in major cities.
High quality – Indian multimedia and animation experts are considered of high quality. Their stature has increased globally after the success of Life of Pi at Oscars. The reason for this is Indian animation studios are constantly enhancing their technical capability.
Advantages of a mature market – There is a new emerging trend in the multimedia and animation services where experts from various animation studios collaborate to provide services in the specific part of the value chain. Such models are popular in matured markets hitherto. It’s a sign that Indian animation market is constantly maturing.
In this process, Indian animation studios are collaborating with the studios abroad to leverage on each other’s expertise. They are not only sharing IP rights, but revenues.
Summing up – The animation and gaming outsourcing market has shown a sustained growth with maturity in the service offerings. The entry of global animation studios, end-to-end technical production capability, and original IP creation and growth has boomed the animation outsourcing industry.