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Global animation industry pegged at $70 bn by 2005
The global
digital animation industry is estimated to grow to a whopping
$70 billion by 2005 from the current size of $25 billion,
according to speakers at the EGO 2001 meet which began here
on Thursday. This is the first time that anybody hazard to
put a number to the size of global animation market.
However, speakers were cautious in qualifying their growth
figures with ifs and buts blaming the nebulous state of the
industry worldwide. The speakers are also of the view that
the North America’s predominance in the industry has
been fast declining with content producers increasingly resorting
to offshore development.
They said, Asia-Pacific countries have been emerging as the
favourite destination for offshore content development with
the major studios outsourcing their work to the companies
in these countries. However, the high-end of the production
line still remains in north America, they said.
They said, though there is a rapid growth in 2D animation
movies, the real value and skill lies in the development of
the 3D animation contents.
They said India, which is the second largest producer of entertainment
content, has a tremendous potential to emerge as a world leader
in digital content development. However, what the country
lacks is experience, which could be made good from the expertise
of the professionals from the West.
Earlier EGO 2001, the second annual congregation of entertainment
and graphic fraternity around the globe, was inaugurated by
the south Indian film star Kamal Haasan lighting the traditional
lamp. An assortment of professionals from across the globe
representing various fields of entertainment are participating
in the annual meet.
In his address, V Chandrasekaran, chairman and CEO of the
Pentamedia Graphics, one of the official sponsors of the conference,
said the entertainment industry has been witnessing a ‘digital
revolution’, which has changed the way the design, development,
distribution and delivery of the content is done. He said,
those who fail to see the writing of the wall would be left
behind.
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