The rising levels of disposable income are allowing the young generation to invest in the latest smartphones and other gadgets. The latest, most up-to-date, and technologically advanced gadgets, smartphones, and other mobile devices are increasingly being introduced in the market as technologies continue to advance. For instance, in Japan alone, the platform witnessed a sudden rise in the number of subscribers as individuals preferred spending most of the time watching animated series and movies.Īdvances in the latest technologies, including Artificial Intelligence (AI), Virtual Reality (VR), Augmented reality (AR), and Internet of Things (IoT) among others coupled with the increasing levels of disposable income are expected to play a vital role in driving the market growth. On the other hand, streaming services, such as Netflix, have gained immense popularity. At the same time, theatre releases and live performances were also impacted as a result of the lockdowns and restrictions imposed on the movement of people as part of the efforts to arrest the spread of the coronavirus. However, several animated television programs, including those already in production, were either postponed or canceled in the wake of the outbreak of the pandemic. The month of April is usually considered the busiest of the year because of the start of new shows. The outbreak of the COVID-19 pandemic has had a significant impact on the market. The growing preference for internet distribution and application games, which account for the majority of overseas sales in Japan, is projected to play a decisive role in propelling the market growth. As such, foreign sales are expected to contribute to substantial revenue generation in the market.

The growing popularity and the rising sales of Japanese anime content worldwide are anticipated to drive the growth of the market over the forecast period. The global anime market size was valued at USD 24.80 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.7% over the forecast period.

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