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[March 23, 2014]
Animation & Gaming Market Expected to Reach $242.92 Billion by 2016 - Report by MarketsandMarkets
(PR Web Via Acquire Media NewsEdge) (PRWEB) March 23, 2014 The report "Animation & Gaming Market Size and Global Forecast (2011-2016)", as the name suggests, defines and segments the global animation & gaming market with analysis and forecast of the global revenue for each segment. It also identifies driving and restraining factors for the global animation & gaming market with analysis of trends, opportunities, and challenges. The market is segmented and revenue is forecasted on the basis of major geographies such as North America, Europe, Asia-Pacific and Japan, and Rest of the World (ROW), and segments and their sub segments and geographic trends and forecasts.
Browse more than 75 market data tables/figures spread through 190 pages and in-depth TOC on "Animation & Gaming Market Size and Global Forecast (2011-2016)".
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In the overall animation creation process, most of the less creative work is outsourced to low cost emerging countries such as India, Singapore, Malaysia and China, whereas the rest of the work is produced by the U.S. and Europe; therefore APJ is the fastest growing market with regards to animation. As far as gaming market is concerned, Europe is supported by several government policies and governing bodies such as PEGI (The Pan-European Game Information), and The German Trade Association of Interactive Entertainment Software (BIU).
The global animation and gaming market is expected to grow from $122.20 billion in 2010 to $242.92 billion by 2016. The gaming market is the fastest growing, with a Y-O-Y of 17.46% by 2016, registering a CAGR of 13.71%; the Y-O-Y growth of the animation market will be 15.83% at a CAGR of 12.50% from 2011 to 2016.
The global animation and gaming market is growing at a CAGR of 12.94% from 2011 to 2016. The major factors driving the animation and gaming market are expansion of target market, government initiatives, greater penetration, and accessibility of broadband internet, growth in the mobile subscriber base; shortage of training, and skills, and piracy remain the major market restraints.
The major geographies such as North America, Europe, Asia-Pacific and Japan, and Rest of the World (ROW) are taken into consideration.
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