Market size of animation and VFX industry in India 2011-2026

India's animation and VFX industry was valued at around 114 billion Indian rupees in 2023, despite the lapse in market value in the previous year owed to the pandemic's adverse effects. Of the total market size, the VFX segment contributed the highest revenue amounting to about 54 billion Indian rupees.

A more prosperous India powers the demand for entertainment

Akin to other countries in the Asia-Pacific region, India is characterized by a growing economy and an increasingly wealthier population. Growing prosperity and increasing connectivity have contributed to the growth of the country's media and entertainment industry. With the pandemic catalyzing the path to digital evolution that favors online experiences, the digital media industry in India has gained striking momentum. The value of the digital media market across India was forecast to reach more than 860 billion Indian rupees in 2025.

Emerging media segments: animation and visual effects (VFX)

With the proliferation of the internet and its accompanying groundbreaking technologies, a shift towards more personalized, convenient digital experiences took place. These developments created further space for the growth of animation and VFX industry in India, which enlarged by about 29 percent in 2022. Animation and VFX hold a significant market share of the media industry in India, and it was estimated to have robust growth at a compound annual growth rate of 35 percent between 2022 and 2023.