`Indian animation, gaming industry to be worth USD 2.5 bn`

New Delhi, Nov 28 (PTI) Boosted by higher demand, the
fast-growing Indian animation and gaming industry is expected
to be worth USD 2.5 billion (Rs 11,435 crore) in the next
three years, says global consultancy Deloitte.
According to estimates, the Indian animation and gaming
market was valued at around USD 750 million (Rs 3,430.5 crore)
in 2009.
"This (Indian) industry is expected to be worth USD 2.5
billion by 2013, clocking a compounded annual growth rate
(CAGR) of around 35 per cent. The industry is growing in a
big way," Deloitte Touche Tohmatsu India Pvt Ltd's Director
Sandip Biswas told PTI.
He has recently authored a report on the animation,
broadcasting and gaming industry.
Biswas said there is huge growth potential for the
animation and gaming sector, especially with increasing
demand. The product quality is also improving, he added.
The Indian animation and gaming industry garners major
chunk of its revenues from outsourcing, with work outsourced
by international production houses and game development
companies.
The global animation and gaming industry is expected to
be worth around USD 170 billion (Rs 7.76 lakh crore) by 2013.
It was valued at about USD 115 billion (Rs 5.26 lakh crore)
last year.
Biswas pointed out that India's outsourcing share of the
worldwide market for animation and gaming industry is less
than ten per cent. On the other hand, IT and BPO industry
accounts for around 51 per cent of the outsourcing market.
"... As the economy moves out of tough times, animation
houses in India would take the initiative to develop the
in-pipeline high budget, high quality movies and animation
content," Deloitte said in the report.
Regarding the future prospects of animation and gaming
sector, Biswas said, "With technology consolidation happening,
more IT offshore companies are likely to enter this market
(animation and gaming) in the coming years." PTI