Middle East and Arab Animation, VFX & Video Games Market Report 2021-2025: The Industry has the Potential to Emerge as an Engine of Growth for the Continent
DUBLIN, Jan. 22, 2021 /PRNewswire/ -- The "Middle East and Arab Animation, VFX & Video Games Report 2021-2025" report has been added to ResearchAndMarkets.com's offering.
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The Middle Eastern and Arab Animation, VFX and Video Games industry has the potential to emerge as an engine of growth for the continent.
The industry has been in existence for quite a long time, however on a small scale. This is changing with increasing global exposure and knowledge transfer and training from international animation and game studios. The industry is in a phase where we are seeing the emergence of several animation, VFX and gaming companies and animators working on attractive stories and content leveraging the continent's large potential for stories.
The region has a handful of large animation studios as well as several small and medium sized studios producing content tailored to local tastes. The supply of animation talent, which has historically been limited, is emerging with the support and intervention of several governments and industry initiatives to develop and support animation through university courses and vocational training courses that provide theoretical and practical hands-on learning on Animation, VFX and Video Games. There are vast sections of the Middle East and Arab region where the potential for Animation, VFX & Video games has not yet been realized and calls for closer participation between government, industry and academia to catalyse the industry growth.
The industry needs support in the form of training, funding, tax incentives, market reach, access to hardware and software, legal support to protect the content IP. access to global distribution and collaboration networks etc. Countries such as Egypt, Syria, Lebanon, Jordan, Saudi Arabia, Palestine, Turkey, Israel and Iran are emerging as key players in the region. However, the content producers in these countries have not been successful in the global distribution of their output.
This current focus of the industry includes content for movies, television, games, augmented reality, virtual reality, advertising, web designs and industrial applications such as architecture, engineering, industrial design, healthcare, education, medicine, and the motor industry.
The demand for animation, VFX and video gaming has expanded with the increase in targeted broadcasting hours by cable and satellite TV, availability of low-cost internet access, penetration of mobile devices along with the growing popularity of streaming video. In addition, the demand for Animation and VFX content to power immersive experiences such as Augmented Reality and Virtual Reality is growing exponentially.
The rapid advancement of technology has made animation, VFX & games available to the masses, and this industry has become one of the fastest growing segments in the global media and entertainment market. We are increasingly seeing more animation, VFX and games production taking place in a globally distributed mode.
EMERGING TRENDS
-- The combination of live action and animation will alter the form, as
well as the content, of film animation.
-- Animation is no longer a profession limited to animators with increasing
participation from computer professionals, programmers, technicians etc.
-- The evolution of visual effects (VFX), augmented reality (AR) and
virtual reality (VR) technologies are dramatically changing both the
creation and consumption of films, videos, games, and more.
-- Augmented Reality and Virtual Reality adoption will drive the demand for
animation content.
-- Production work is moving around the world - tax incentives, regional
low labor costs and subsidies put pressure on existing companies to
reduce costs and set up facilities in tax advantaged or low cost
regions.
-- Media consumption habits are changing rapidly, windows for film releases
are narrowing, and follow-on markets are shifting from television,
cable, DVD and rentals to streaming and digital downloads.
-- The international film market in several emerging markets is growing
quickly and creating new opportunities. Regulations in several countries
limit imported animation content without a certain amount of local
participation and studios are collaborating with local partners to
produce content.
-- Although 2D animation will survive, it will be largely in the form of
hybrid 2D/3D animation. As well as reducing costs, using CGI for
backgrounds allows for a more dynamic camera. The training offered to
animators is biased in favor of CGI and so artists with traditional 2D
skills are becoming harder to find.
-- The changing viewing habits favour short productions as a form of
entertainment. The viewing habits generally favor short-form content
that can be turned out quickly and cheaply.
-- Merchandise is already a major form of revenue generation for animated
films and in the future, it could form a much larger share of revenues.
-- Artificial Intelligence, machine learning & deep learning are being
leveraged to drive hyperpersonalisation for video games.
-- Artificial Intelligence and Machine Learning based techniques are being
used for in-game analytics, customer acquisition, retention, cross sell,
churn, classify player behavior etc.
-- Micro-segmentation of fans is emerging as eSports leagues and
tournaments are consolidating various genres, platforms and viewing
experiences by careful customer segmentation, targeting and positioning.
-- In video games, predictive analytics can be used to forecast when a
player will stop playing, if a player will convert from a non-paying to
a paying user, what types of items players will purchase, classify
player behavior, etc.
-- Cloud Gaming services that are growing at an exponential pace would need
the right pricing model to both drive adoption and generate sufficient
returns for platforms and publishers.
-- The availability of low cost micro-payment systems is allowing users to
pay for access or download small quantities of digital content and is
the key for the online games market to grow.
For more information about this report visit https://www.researchandmarkets.com/r/i4swr2
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