Portland, OR , June 24, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global 3D animation market generated $14.08 billion in 2018, and is estimated to reach $33.78 billion by 2026, registering a CAGR of 11.6% from 2019 to 2026. The report offers an extensive analysis of changing market trends, top winning strategies, business performance, top players positioning, and competitive scenario.
Increase in use of visual effects in movies, surge in demand for high quality content by consumers, and rise in adoption of cloud for animation drive the growth of the global 3D animation market. However, presence of free & open-source animation software hinders the market growth. On the other hand, integration of virtual reality (VR) technology for visual effects creates new opportunities in the coming years.
Covid-19 scenario:
- The operations for organizations offering the 3D animation services and products have not been affected much during the coronavirus pandemic as employees can work from home.
- On the other hand, the demand for 3D animation from the media & entertainment and construction & manufacturing industries has been reduced during the coronavirus outbreak.
The report offers a detailed segmentation of the global 3D animation market based on component, deployment mode, technology, industry vertical and region.
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Based on component, the solution segment contributed to the largest share in 2018, accounting for more than two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is expected to register the highest CAGR of 12.4% from 2019 to 2026.
Based on deployment mode, the on-premise segment accounted for the largest share in 2018, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the cloud segment is estimated to portray the highest CAGR of 12.6% during the forecast period.
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 14.1% from 2019 to 2026.
Leading market players analyzed in the research include Pixologic Inc, NVIDIA Corporation, Sidefx Software, The Foundry VisionMongers Ltd, Corel Corporation, Zco Corporation, Maxon Computer, Adobe Systems Incorporated, Autodesk Inc, and Newtek Inc.
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