Indian Animation Industry Set to Reach $950 Million
Created 02/13/2006 - 00:00
files/pictures/picture-35.jpgA Nasscom report on animation and gaming industry states that the Indian animation industry is expected to reach $950 million and the gaming industry to $300 million by 2009, Sify.com reports. However, the report states that Indian companies will need to improve synergy between talent and technology as well increase professional training to obtain this landmark.
At present 1,500-odd animators work in India, but the demand could reach as high as 30,000.
The demand is not only coming from the West. With the growth of mobile technology and PC sales, domestic market need for animation is growing as well.
The report also emphasizes the need for Indian firms to create their own brands and intellectual properties. The market for animation development in India was estimated at $285 million in 2005 and is expected to have an annual growth rate of 35%.
Some of the factors working against the industry are seed funds, paucity of talent, operational excellence, investments and marketing. Some of the missing elements are technology, IP, star cast talent and script management.