The Indian 3D content creation market for the media and entertainment industry is predicted to rise in the coming years, ascribed to increasing adoption of the VFX in regional cinema, rising penetration of the social media and OTT platforms, along with the surge in the gaming industry of the country.
Under the component segment, the software category is projected to capture a significant revenue share, led by the expansion of the animation and VFX industry. The advent of the new 3D animation and VFX software
and technologies boosts the employment of new 3D content creation strategies. The majorly used 3D content creation software are Autodesk 3ds Max, Houdini, Nuke, Adobe Premier, and Autodesk Maya.
Under the organization segmentation, SMEs are predicted to experience the highest growth in the coming years in Indian 3D content creation market for the media and entertainment industry. It is attributed to the rising emergence of start-ups that provide 3D content creation services for various media platforms such as T.V. ads, print ads, digital marketing, websites, exhibitions, event management, and other purposes. In addition, SMEs offer extensive 3D content creation services to regional film industries.
Under the end-use segment, the VFX category dominates the Indian content creation market for the media and entertainment industry, and it is predicted to retain its position in the near future. The country is one of the chosen destinations for outsourcing VFX production, due to its inexpensive service. It costs one-third or one-fourth of that of North American countries. Furthermore, the domestic use of the VFX propels the industry such as Shivaay, Life of Pie, Zero, and 2.0.
Under the geography segment, tier-II is projected to experience the fastest growth in the coming years, it includes Jaipur, Ghaziabad, Nagpur, Indore, and Chandigarh, led by rising penetration of the animation and VFX studios, with increasing establishments of private training institutes. Moreover, people learning or taking classes on 3D content creation software and hardware in these cities are rising, resulting in the expansion of the 3D animation and VFX companies here.
The technological advancements led by AI, SaaS, cloud rendering, game engines, and light-field captures are increasingly being employed in the VFX space to acquire higher efficiency with increased productivity, resulting in higher revenue generation. Furthermore, artificial intelligence and machine learning technologies are highly adopted to bring automation to several applications such as image processing, character animation, and camera tracking.
In addition, the industry is driven by the increased adoption of the VFX as a crucial element in television post-production shows, with rising penetration in Indian movies. There is a wide scope for improvement in the nation’s film industry, compare to the international standards that have made gained significant advancement over the last years.
The rising popularity of digital platforms played a crucial role in the propulsion of the gaming industry in India, and that led to the increase in numbers of online gamers over the last years. It is ascribed to the surge in the usage of smartphones with high-quality display pixel ratio, advanced bandwidth, and declined data cost, along with the rise in disposable income and advanced micropayments.
Therefore, the VFX and animation industry in India is rising due to the increased usage of technology in the movies.
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