Based on thorough market analysis, Frost & Sullivan has recognized Toon Boom Animation Inc. with the 2011 Global Frost & Sullivan Award for Entrepreneurial Company of the Year. In a highly concentrated market, in which the top three companies hold nearly 67 percent of the market share, Toon Boom has shown remarkable entrepreneurial spirit, rapidly gaining a strong foothold through product innovation, marketing and the implementation of a well-rounded strategy.
Building upon its solid foundations in the professional arena, Toon Boom has expanded its wings into the education and consumer markets. This strategy implies delivering innovative and user-friendly products that enable customers to create digital content and develop 21st century skills in the classroom. As a leader in the animation software industry, Toon Boom quickly appeared on the Frost & Sullivan radar and was evaluated on the following criteria:
- Growth Strategy Excellence
- Growth Implementation Excellence
- Degree of Innovation with Products and Technologies
- Leadership in Customer Value
- Speed of Response to Market Needs
“Compared with its competitors, Toon Boom exhibited multi-dimensional strategies to meet its objectives,” said Frost & Sullivan research analyst Prayerna Raina. “For the past seven years, Toon Boom has consistently added products to broaden its offerings, emphasized and refined its key differentiating features, expanded into verticals other than media and entertainment, and continued to strengthen its position in emerging markets.”
“We are honoured to receive such accolades from this prestigious organization. This accomplishment reinforces our determination in pursuing our goals and bringing to market more innovation and excitement to our growing community,” shared Joan Vogelesang, president and chief executive officer at Toon Boom.