New York, US, Nov. 01, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “3D Animation Market Research Report: by Component, Technology, End-User and Region - Forecast to 2030, the market is anticipated to acquire a valuation of approximately USD 42, 18 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 11.42% during the assessment timeframe.
3D Animation Market Key Players
Eminent market players profiled in the global 3D animation market report include-
- Autodesk Inc. (US)
- Image Metrics Inc. (US)
- Corel Corporation (Canada)
- Pixologic Inc. (US)
- Foundry Visionmongers Ltd (UK)
- Maxon Computer (Germany)
- Toon Boom Animation Inc. (Canada)
- Side FX (Canada)
- NVIDIA Corporation (US)
- Sony Corporation (Japan)
- Trimble Inc (US)
- Adobe Systems Inc. (US).
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3D Animation Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 42, 18 Billion |
| Growth Rate | CAGR of 11.42% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The use of big data and the internet of things are on the rise which will provide opportunities |
| Key Market Drivers | Movies and entertainment sectors are increasingly adopting visual effect technology |
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3D Animation Market Drivers
Integration of VR for Visual Effects to Boost Market Growth
Virtual reality (VR) technology is quickly becoming a valuable tool in the field of animation. Significant investments are being made in this technology for use in gaming, advertising, & home entertainment. These effects are created by animators using VR technology. The 3D animation market vendors are experiencing increased demand as a result of increased work on more complex creatures and the creation of more exciting virtual worlds. The integration of VR in visual effects will boost market growth over the forecast period.
3D Animation Market Opportunities
Rising Adoption of Motion Capturing to offer Robust Opportunities
The growing popularity of motion capture and 3D video games is driving the global 3D animation market. The ability to display movement is a requirement for 3D animation. It also reveals an object's functions rather than just its spatial moments. The motion capture feature of animation was first used in films and television, but its use was resisted.
Restraints and Challenges
Low Proficiency Level to act as Market Restraint
The low proficiency level, constant exposure to corruption and piracy, and price sensitivity may act as market restraints over the forecast period.
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3D Animation Market Segmentation
The global 3D animation market has been bifurcated based on end user, technology, and component.
By component, hardware will lead the market over the forecast period.
By technology, 3D modeling will domineer this market over the assessment period.
By end user, media and entertainment will spearhead the market over the forecast period.
COVID-19 Analysis
Following the COVID-19 pandemic, few governments around the world imposed time limits for returning home and stricter rules on foreign affairs in order to slow the virus's spread. The closure resulted in a significant increase in demand for high-quality home entertainment, prompting media and entertainment companies to improve the content of their videos. The use of simulation technology enables media companies to provide advanced viewing information to viewers in order for them to purchase, read, and work while engaging in leisure activities. Furthermore, the increased adoption of 3D modeling technologies for various applications such as marketing, Computer-Aided Design (CAD), 3D printing, medical thinking, scientific and production, video games, & animation is expected to drive market growth. Various 3D technological advancements in the market are driving the market, and this is why technological advancements in the television and communication industries are the primary driver for the growth of the global animation market.
Regional Analysis
North America to Head 3D Animation Market
North America dominates the 3D animation industry & will continue in doing so throughout the forecast period. One of the key factors influencing the growth of the 3D animation market is the presence of prominent digital industry players such as Nickelodeon, Fox, and Disney. In 2021, the North America region had the highest revenue share of 37.5%. Despite the significant success of 3D animation in the form of anime in Japan, the emergence of animation technology in the region is far more potent than in North America. At the same time, the formation of significant animation studios in the west, as well as the growing development of 3D animated games, promises significant growth for the North America region. Furthermore, the use of 3D animation in the healthcare industry to help medical students and practitioners receive medical training is propelling market growth. North America is the largest market for 3D animation because the region is constantly developing computer animation technology and increasingly employing it in the media and entertainment industries. The region is utilizing 3D animation technology to conceptualize any business organization's product or service that is still in the development stage. The regional market's expansion can be attributed to the widespread adoption of 3D technology in various fields of research and business organizations, particularly in the United States.
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APAC to Have Favorable Growth in 3D Animation Market
In contrast, Asia-Pacific will grow at the fastest CAGR in the 3D animation market in the coming years. Growth in the media and entertainment industry is one of the key sectors driving the Asia-Pacific regional market for 3D animation. The region experiencing the fastest growth is due to increased investments from Japan, China, & South Korea in what remains a promising technology for the future. Asia-Pacific, particularly the countries that connect China, Korea, India, & Japan, is expected to experience the fastest growth in this market. In this region, the use of 3D animation attracts viewers for a specific product or service while also showcasing the overall standard and vision of business organizations in the region. The growing influence of the media and entertainment sectors is one of the main factors driving the expansion of the APAC region's 3D animation market. China, Singapore, Australia, and India have the greatest potential for the 3D animation sector in Asia Pacific. The Asia Pacific 3D animation industry is growing due to factors such as the increasing use of visual effects technology in Bollywood films and 3D mobile games and applications. Due to the establishment of major industries dealing with 3D technology in the region, the market in APAC is expected to develop at a rapid pace in the forecast period. Because of government subsidies, tax breaks, and incentives for market advancement, India, China, Australia, and Japan are the major contributors to regional market growth.
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