Nasscom revised the forecast for the gaming industry from $1,060 million to $830-million and animation industry from $1,163-million to $1,000 million.
"Indian animation industry is expected to grow at a CAGR of 22 per cent to reach $1 billion while gaming industry to grow at a CAGR of 49 per cent to reach $830-million by 2012," Nasscom president, Som Mittal, told reporters in Mumbai while releasing 'The Animation and Gaming Report 2008-09'.
The report, prepared by Nasscom and Ernst and Young provides a detailed insight on the growth-drivers, business models, issues and challenges for the gaming and animation industry in the next few years.
The other factors which resulted in revising the forecast were a lack of availability of skills for animation industry, slow growth of domestic box-office for animation movies and proof of concept or IP creation not upto expectations.