Motion Graphics Market Forecast and CAGR
For today’s generation, motion graphics have become a mean of human expression. The fad of expressing thoughts and expression in the form of motion graphics has started in recent years. The service providers in the market are focused on providing advanced real-life like graphics. The market is set to witness a CAGR of 12.5% during 2021-2031.
What is Driving Demand for Motion Graphics?
During the projected period, the increase in desire for creating an illusion on social media platforms is expected to fuel market growth, which will drive the market’s growth. Different promotional and marketing strategies by majority of brands are predicted to improve as field of animated graphics advances.
The industry is also benefiting from continuous advancements in infographics technology leading to more and more people involving themselves in the field of motion graphics.
To promote their brands, marketing and advertising agencies use a variety of methods. Customized brand videos have become a great way to promote business. Customers are shown advertisements and other promotional stickers and graphics on their social media through caches.
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Motion graphics are appealing and highly versatile storytelling tools, which makes them a great addition to brand’s content marketing mix if they are looking to tell an interesting story in a brief format, engage people on social media, or explain their product.
Trends in Motion Graphics Likely to Augment Sales
3D Everywhere comes first in the list where motion graphics artists are emphasizing inserting 3D elements everywhere from the sales presentation to game design. Such implication have been increasingly successful in gaining users attention and is highly trending in today’s modern era.
Moreover, mixing 2D and 3D is gaining momentum as people love how the video tells the story when graphics artists combine 2D and 3D. Integrating 2D and 3D animation, inserting 2D over-layers with movement are some examples of it. This trend can be observed in big-budget advertisement videos and digital ads of a small scale.
As a result, better and differential promotional activities and availability and visibility of wide range of animated with real-life like graphics on social media platforms is expected to boost the sales of motion graphics.
Impact of COVID-19 on Motion Graphics Market
COVID-19 had an immediate impact on the global industry. The graphic designers were directly impacted by the COVID-19 pandemic. Governments in a number of countries had imposed a shutdown to prevent the virus from spreading further.
The businesses were in a difficult position and so did the video production industry. In an environment of uncertainty, businesses instinctively cut their marketing budgets, and such actions adversely hampered the growth of the industry.
On the other hand, being one of the unique case in the world’s history. Billions of people around the world were forced to stay home and were stuck on the Internet from morning to night, mainly on social media networks. Video bloggers had already increased the volume of their content.
In light of this, not all but a very few of the individuals and self-made graphic designers were positively impacted but the businesses and overall market was hampered due to the downfall.
US and Canada Motion Graphics Market Outlook
North America, particularly the United States, will continue to play a critical role that cannot be overlooked. Any changes in the United States could have an impact on the global market development trend. During the projection period, the market in North America is expected to expand significantly.
The increasing adoption of advanced technologies in this region, as well as the presence of significant players, are expected to provide ample potential possibilities for the market. Moreover, the growing preference of such businesses for creative graphics in the form of photos and videos in order to provide content to the viewers’ is a major contributing factor to the ever-increasing market in the region.
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Europe Demand Outlook for Motion Graphics
Despite the fierce competition, investors remain enthusiastic about European region. Owing to the evident global recovery trend more new investments will enter the industry in the future. Moreover, high level of penetration of major players is anticipated to remain as one of the important factor for the growth of the market in the region.
The people in regional countries such as France, Spain, U.K., etc., have shown more interest in motion graphics with growing complex visual effects in videos and is now catching the attention of the audience and such factors are likely to be the main cause for the growth of the market.
Furthermore, a high number of millennial population in the region has adopted to such trends of video and photo animation that are posted on channels such as YouTube, Facebook, etc., and has boosted the sales of motion graphics in the region.
The growing television industry in the region has led to augmented number of service providers for custom videos, animations, and specialty motion graphics, thus, attracting a high number of customers. The television industry in Europe region is anticipated to remain one of the driving factors for the market growth.
Who are the Key Manufacturers and Suppliers of Motion Graphics?
Some of the leading manufacturers and suppliers of motion graphics include
- Cub Studio
- BuzzFlick
- Thinkmojo
- Giant Ant
- Covalent
- FEVR
- Sparkhouse
- Shoot You
- Early Light Media
- Commotion Engine
- Demo Duck
- Hornet
- Among others.
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