New York, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The global 3D animation market is a significant part of the overall animation market. In 2022, its estimated value was around US$ 18,891.2 million, and it's expected to reach US$ 21,123.9 million in 2023. With a growth rate of 11.9%, analysts predict that the market will hit US$ 65,067.3 million by 2033.
In simple terms, 3D animation is a technique that makes digital objects appear as if they are moving in a three-dimensional space, even though we see them on a flat computer screen. This technology has become popular due to the widespread use of visual effects, 3D animation, and the introduction of technologies like VR, AI, and AR. 3D animators use artificial intelligence and natural language processing to enhance the graphics process, especially in 3D video games.
North America dominated the market in 2022, holding a market share of 24.5%, followed by South Asia and the Pacific with a market share of 21.3%. The increasing interest in watching animated movies in virtual reality is expected to have a positive impact on the 3D animation market.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 21,123.9 Million | |
| Estimated Revenue 2033 | US$ 65,067.3 Million | |
| Growth Rate – CAGR | 11.9% | |
| Forecast Period | 2023-2030 | |
| No. of Pages | 272 Pages | |
| Market Segmentation | By Component, Technology, End User, Region | |
| Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa | |
| Key Companies Profiled |
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Top Trends in the 3D Animation Market:
Growing adoption of visual effects technology in movies
Entertainment industry is rapidly adopting the VFX, which is commonly known as visual effects, for creating visually enhanced imagery with the help of animation and computer graphics. Animators, game developers, and moviemakers prefer VFX in the scenario where they technically want to depict something that cannot be shot in a live environment and that should be simulated in a virtual world or in animation software. In this scenario, 3D animation software or tools play a vital role to depict the required scene that needs to appear real. VFX is a broad term like animation, which majorly uses camera mapping technique of creating visual effects for getting the desired output. A 3D animation software plays a crucial role in this scenario, in which still images are taken and processed using various 3D animation tools. In addition, the adoption rate of VFX technique is growing at a faster pace and offering the new professional opportunities for the animators and visual effect artists. This majorly provides the traction to the use of 3D animation technique in the entertainment industry, thereby driving the overall 3D animation market growth.
Rise in demand for high-quality content by consumers
The increasing visual satisfaction growth of today’s generation and population is escalating the growth of the 3D animation market. High-quality 3D animation enhances blockbuster films, creating visually stunning special effects, lifelike characters, and immersive worlds. Consumers now expect cinematic experiences with seamless integration of real footage and CGI elements. In addition, High-quality 3D animation technology in video games allows for the creation of intricate, realistic game environments. Gamers demand lifelike graphics and smooth animations, leading to the integration of advanced animation techniques in game development.
Adoption of cloud for animation
The growing adoption of cloud for utilization in the 3D animation technology is driving the growth of 3D animation market. Cloud-based solutions offer scalable resources, allowing animation studios to scale up and down based on project requirements. This flexibility eliminates the need for significant upfront investments in hardware and infrastructure. Furthermore, cloud-based platforms facilitate collaboration among teams located in different parts of the world. Animators, artists, and other professionals can work on the same project simultaneously, enhancing productivity and creativity.
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Factors Driving Growth in the Indian 3D Animation Market
To Boost the Market in India: Manufacturing Growth, Government Backing, and Outsourcing Services Play Key Roles
The Indian media and entertainment industry, being enormous, requires 3D animation solutions for various purposes. However, the quality of production in India is not always up to par. Although the designing tasks for products and tools are not extensive in the country yet, the growth in manufacturing is expected to drive the use of 3D animation solutions with a projected CAGR of 13.2% over the forecast period. The government's initiatives to support the animation industry in India further strengthen this outlook.
Despite these challenges, India possesses a substantial market for 3D animation. The country's media and entertainment industry is among the world's largest, necessitating animation services. Additionally, India hosts numerous animation studios engaged in outsourced projects, often coming from North America and Europe. This makes India a significant market for 3D animation. With a large population, skilled workforce, and cost-effective services, India emerges as a prime outsourcing destination for 3D animation services in South Asia and the Pacific region.
Competitive Landscape:
3D animation services are crucial for media, entertainment, and various industries. Companies engaged in product manufacturing often hire a large number of animators. In contrast, studios working on creative projects may not have as many animators on staff. These studios often collaborate to meet the requirements given by production houses.
In January 2023, BigTank, a video production company in Lancashire, England, made an exciting announcement. They launched a new 3D animation department. This decision was based on the company's understanding that internet users heavily consume video content. To capitalize on this trend, the company will offer 3D animation projects and services, recognizing the potential of animation to engage consumers.
In December 2022, OpenAI, the same company behind ChatGPT, introduced Point-E. Point-E is an AI solution designed to create 3D models. This innovative solution uses machine learning to generate models in either a text-to-model or image-to-3D model manner.
3D Animation Market Segmentation Overview:
Components of 3D Animation: The 3D Animation market is divided into three main parts: Hardware, Software, and Services. Hardware is crucial in this market because it helps animators and artists create and display 3D graphics and animations. In the 3D animation industry, common hardware includes high-performance workstations—powerful computers designed for 3D animation work—and graphics cards, specialized components that render 3D graphics.
Types of 3D Animation Technology: When it comes to technology, the 3D animation market is categorized into 3D Modeling, Motion Graphics, 3D Rendering, and Visual Effects. 3D rendering involves creating realistic images or animations using computer software. This is widely used in creating visual effects, characters, and environments for films, video games, and other media. Major companies in this field include Autodesk, Adobe, SideFX, The Foundry, Maxon, and others, providing software and services for 3D rendering and animation.
End-Users of 3D Animation: In terms of end-users, the 3D Animation market is segmented into Media and Entertainment, Education, Healthcare, Architecture, and Others. In healthcare, 3D animation is applied for purposes such as medical visualization, creating detailed and accurate images of the human body for surgical planning, patient education, and medical professional training. It is also used to demonstrate the proper use of medical devices.
Regional Distribution of 3D Animation: The market is further divided by region into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America, particularly the United States and Canada, hosts leading animation studios like Pixar and DreamWorks. The adoption of visual effects technology (VFX) in movies has fuelled rapid growth in the North American market. The Asia-Pacific region, especially China and Japan, boasts a well-established animation industry, contributing significantly to the economy. This region is expected to exhibit the fastest growth during the forecast period. Additionally, 3D animation can be utilized in the Asia-Pacific region for heritage preservation by creating digital reconstructions of historical buildings and sites for educational and research purposes.
Key Questions Answered in the Report:
- What factors contribute to the growth trends in the market?
- What is the present market size, and how is it anticipated to change in the forthcoming years?
- What key elements are influencing the market?
- How is the 3D Animation market divided, considering types, fuels, applications, or other relevant factors?
- Who are the primary participants in the 3D Animation market?
- What strategies are these players employing to establish a competitive edge?
- What factors are driving the expansion of the 3D Animation market?
- Which regions are expected to experience notable growth, and what are the reasons behind it?
- What recent technological advancements are impacting the 3D Animation industry?
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