Anime has found origin in Japan and traditionally covers all types of animated works, known for distinctive production methods. The viewership for anime has swelled on the back of dissemination across various media and constant advancements of technologies used in making them. The products in the anime market are characterized by graphic art, cinematography, and diverse forms of individualistic techniques.
The global anime market has prospered on the back of growing sales and popularity of Japanese animation work, with one anchor being the fact that the anime is distinct from the animation work produced in Western countries. A wide range of art styles have been harnessed the boost the acceptance of the anime content, thereby propelling sales in the anime market.
Some of the key distribution media are television, OTT platforms, social media, and comics. The market has grown across all media. Growing spending on anime content by film-makers in Japan is a key development underpinning the evolution trajectories of the global anime market.
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Growing preference of OTT platforms for viewing entertainment content is a key driver as well as accelerant for demand in the anime market. Advances made in computer animation techniques is a key trend bolstering the prospects. Creators have leveraged emergent technologies to reduce the cost of production. Over the years, the number of production companies engaged in global anime market has grown considerably, and so are the revenue prospects.
The growing trend of consumption of animation content among millennials is bolstering the prospects in the anime market. Rise in disposal incomes in populations in emerging economies has contributed to the growth prospects in the anime market. Growing popularity of streaming platforms such as Netflix has also fueled the demand. Furthermore, adoption of virtual reality technologies in the making of anime content has made them more immersive experience. A sizable revenue has come from the rise in sales of merchandising. The growing sales of application games has boosted the growth prospects. Another key trend spurring growth prospects is the growing popularity of Japanese comic books.
The presence of numerous players in the anime market renders the landscape increasingly competitive. In particular, the number of merchandise distributors and manufacturers has proliferated in recent years. The value chain in the global anime market has thrived on back of intensifying competition among merchandising and licensing products.
Top players in anime market are keenly leveraging advanced technologies to cut the cost of production and also for exploring innovative storyboarding techniques. Some players have also focused on incorporating advanced hardware to boost their capabilities. Pioneers are expected to leverage VR to gain a competitive edge in the global anime market. The low barrier to entry further intensifies the competition in the anime market.
Some of the key players in the anime market are Toei Animation Co., Ltd., Production I.G, Inc., Madhouse Inc., Kyoto Animation Co., Ltd., and Bones Inc.
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Japan has been one of the most prominent markets over the past several decades, with Tokyo as the axis of development of new products. The presence of a large number of animation studios over the years has also contributed to the massive investments in the global anime market. The Middle East and Africa is emerging as new hotspot of opportunities for market players across the value chain. Past few years have seen rising popularity of video games and merchandising related to that in various countries of the Middle East. Further, the sheer pace of internet distribution of animation content is a key accelerant for new opportunities in the regional market.
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