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According to a report by auditing firm Pricewaterhouse Coopers on the Indian media & entertainment industry, the animation industry is estimated to have been around Rs.1,100 crore in the year 2006 and it is expected to grow at a rate of 22% to reach Rs.5,400 crore at the end of 2014.

This is just over 2% of the size of the world’s animation industry and hence, there is tremendous growth potential of the industry.

The animation industry can be broadly classified into six categories: 3D animation, 2D animation, gaming, multimedia, web designing and visual effects (VFX). Here is an explanation of these categories:

3D Animation

3D animation entails the creation of moving pictures in a 3-dimensional  digital format. It is achieved by sequencing consecutive images or ‘frames’ in a slow progression of steps. It is recorded with the help of a virtual camera. Then the output is transferred to video by a rendering engine to make a full-fledged animated work
2D Animation

2D animation also involves the creation of moving pictures but in a 2-dimensional space. This can be achieved through a traditional computerized animation software.
Gaming

This is one of the flourishing segments in the animation industry. The extent to which gaming has struck a chord across age groups can be found in the sale of gaming consoles like the Playstation or Xbox. Hence, this category would ensure that the animation industry prospers and grabs incremental customers.

Games for personal computer, Internet, consoles and quite understandably mobile phones, have  added to the business sense of this category. Many a player has ventured into this category considering the high degree of making huge revenues and a short breakeven period.
Multimedia

Multimedia means using multiple media. These include fine arts, entertainment, commercial art, journalism, media, designing and software services. These media come together to offer a rich mix of informative products. A case in point is the illustrations, designing and sketching of original photographs in media like newspapers.
Web Designing

Web designing entails creating web pages. Web designers use graphic design skills for the purpose of layout and presentation in different types of media. Software programmes such as Adobe Photoshop and Quark Express among others have added to the  charm of this category.
VFX

Animation and multimedia specialists also work with Visual Effects (VFX).  A chief difference between animation and VFX is the interval of time. While animation is used for a prolonged period, VFX is for a small period of time with a smack of animation.

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OPPORTUNITIES

There is enough scope for animation companies to grow in the Indian entertainment industry. There are two factors that would drive the growth of the animation industry: high-skilled workers and low cost of production. According to a Nasscom survey, gaming and animation are no longer “sunrise” industries. Instead, they have started taking wings in different directions. The survey says, “While the Indian animation and gaming industry is still in the nascent stage, the sector is expected to show significant growth in the near future as global outsourcing within the market takes off.”

The Nasscom survey zeroed in on three key factors that are responsible for the growth of the Indian animation  and gaming industry. It said that the cost competitiveness factor of Indian workforce plays a crucial role in the Indian animation industry. The survey also predicts that most mobile companies have realized that the model of co-production is quite feasible and lucrative.

At present, most Indian companies are graduating from traditional outsourcing to co-production model. The production of the animation film Alpha and Omega by Crest Animation is a case in point. Besides this, experts believe that custom content development would be a large segment, going forward. 3-D mobile games are also gaining popularity and it is expected that the future of the animation industry lies in this segment.

Another study by industry body Associated Chambers of Commerce and Industry of India (Assocham) and Deloitte shows that the custom content development and education  segments are expected to see huge momentum largely due to corporate e-learning programmes and would grow at 11% per annum.

One of the observations of the study is that the rising number of TV channels, greater accessibility to  internet, proliferation of mobile devices that leads to the popularity ofvideo and gaming content are set to offer a huge potential for animation and character licensing.

Source: Stock Market Review

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