Hyderabad: The Indian animation and gaming industry is forecast the $1-billion mark by 2010 from the current revenues of $402 million mostly due to huge domestic demand for animated content and online/mobile gaming.
According to Nasscom's animation and gaming industry 2007 report, though a major proportion of workforce in the animation gaming industry is involved in the outsourcing segment, going forward, the share of the domestic market is expected to grow.
Increased mobile and broadband penetration along with introduction of new generation consoles is expected to drive growth for the nascent $48-million industry. Similarly, the report notes, success of several Bollywood movies like Krrish, Dhoom 2 and fully animated Hanuman has pushed up demand for animated content in the domestic market.
Gaming is expected to witness a 72 per cent CAGR to touch $424 million by 2010 while animation is projected to grow at 25 per cent CAGR from current revenues of $354 million. The global animation market is estimated at $59 billion in 2006 while the gaming industry is pegged at $21 billion, the report said.
The Nasscom report proposes government support to the animation and gaming industry in terms of assistance in manpower development, infrastructure and industry status akin to what is practiced in countries like France, Singapore, China, Korea, Canada and the Philippines.