3D Animation Market to Reach USD 31.29 Billion by 2028 Thanks to Adoption of Visual Effects (VFX) in Entertainment and Media Industries
The 3D animation market was worth USD 16.45 Billion in 2021 and is anticipated to cross USD 31.29 Billion by 2028, registering a CAGR of 12.3% during the forecast period (2022 to 2028).
Westford, USA, Jan. 12, 2023 (GLOBE NEWSWIRE) — The utilization of visual effects technologies in games, mobile applications, and movies will contribute to the substantial growth of the 3D animation market. Additionally, the extensive use of 3D animation for special effects in the entertainment industry is projected to drive the market throughout the anticipated time frame. Furthermore, the value of the market will increase as more animation content creators adopt cloud-based technology. In TV shows, movies, and video games, 3D animation is a graphic method that gives the appearance of movement to characters, objects, drawings, and models. Therefore, 3D animators are primarily involved in numerous early stages of VFX development to guarantee that they offer the appropriate content for the animation of actual models.
As per SkyQuest’s insights, the integration of virtual reality and animation is expected to drive significant growth in the global animation market since more than 170 million people worldwide utilize virtual reality in some capacity right now.
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Visual Effects to Emerge as the Fastest-Growing Segment in Technology Category
Visual representation is one of the most efficient ways to convey concrete and abstract thoughts. The development of animation has led to improved visuals. Creating realistic-looking sceneries involves fusing real-world video footage with computer-generated graphics. The production of creative effects for brand advertising, logo design, and product marketing is aided by visual effects (VFX) technology. In addition to movies and video games, VFX is utilized in information visualization, product visualization, system visualization, visual analytics, and other fields.
The research analysis on the 3D animation market thoroughly analyzes the sector, including its size, segmentation, leading companies, important trends, and problems. The research report offers a comprehensive study of the global market along with present & future trends to clarify the upcoming investment opportunities. In addition, the study contains details about important market size-impacting drivers, restraints, and opportunities.
On-premise Segment to Account for Higher Revenue Share owing to Increased Global Adoption
The on-premise segment had the largest revenue share of 62.5% in 2021-22 and is predicted to grow at a higher rate of 15.7% CAGR in the coming years. Because cloud delivery technologies are well-liked by end users for their services and time-saving advantages, many businesses adopt them. The cartoon industry’s increasing adoption of cloud computing will lead to this expansion. After the user uploads their creation, improved cloud delivery features enable the server to handle delivery automatically.
North America dominates the 3D animation market due to increased demand for animation across a range of end uses, big companies’ presence, and the business strategies carried out by the key players in the region. The Asia-Pacific regional market is anticipated to expand at a steady CAGR of 15.3% in the coming years because of the rising demand for animation in developing economies due to increasing preferences from the automobile industry.
We have examined the 3D animation market using primary and secondary research techniques. As a result, we can track current market dynamics, pricing trends, supply-demand statistics, product preferences, customer behaviors, and other factors. In addition, research findings were further validated by multi-level research and industry professionals.
Education and Training Services Category to Witness High Traction owing to Rising Trend of Interactive Education
The education and training services segment is expected to develop quickly in the 3D animation market. Such growth is possible due to the rising need for qualified 3D animators, modelers, graphic designers, and game developers. Numerous educational institutions and software training facilities worldwide provide full-time training courses, certificates, and seasonal camps for animators, gamers, and artists. In addition, the market’s expansion is a result of the growing use of animation in classroom instruction, thereby increasing e-learning awareness. Over 50% of students enrolled in institutions have used e-learning systems globally.
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The research provides a comprehensive analysis of the essential market dynamics and their most recent trends, as well as the appropriate market segments and sub-segments. In addition, the market evaluation considers the most important strategic market developments, including introducing new products, joint ventures, partnerships, and geographical expansion of the leading worldwide and regional rivals.
Key Advancements in the 3D Animation Market
- PixCap, a browser-based 3D design platform, has introduced its new generation of 3D design tools that make it easier and faster for designers, even those without 3D experience, to produce and edit expert 3D digital material. This updated version has a more user-friendly interface and a collection of more than 1,000 3D templates. With this platform, the company aims to address the rising demand for 3D content in the metaverse, games, and social media.
- Netflix recently purchased Animal Logic, a preeminent independent animation studio. Animal Logic created animation, visual effects, and designs that won several awards. This acquisition will support current operations and boost long-term capabilities in the animation industry for improved member entertainment worldwide.
- Cinesite has announced the acquisition of a stake in animation & mocap studio Squeeze in Quebec City. Squeeze is a well-known animation studio having locations in Quebec City and Montreal. With the addition of mocap and unreal capabilities to the company, Cinesite will be able to serve the needs better.
- The NVIDIA Omniverse platform, which enables the development of metaverse apps, is growing with Blender upgrades and a new collection of experimental generative AI tools for 3D artists. It is based on the framework of Universal Scene Description (USD).
The market research closely monitors the leading competitors to present strategy analysis, pricing analysis, micro and macro trends, and a comprehensive description of the market conditions in the forecast period. The report is an expertly written, in-depth study emphasizing key drivers, market share, top categories, and regional analysis.
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Prominent Players in the 3D Animation Market
- Autodesk Inc.
- Corel Corporation
- Adobe Systems Incorporated
- Newtek Inc.
- Maxon Computer
- Sidefx Software
- Pixologic Inc.
- The Foundry VisionMongers Ltd
- NVIDIA Corporation
- Zco Corporation
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