Market Analysis
The global 3D animation market size will develop at a healthy 11.43% CAGR in the forecast period (2020- 2030), states the latest Market Research Future (MRFR) report.
Drivers
Integration of VR Technology for Visual Effects to Boost Market Growth
The integration of virtual reality technology for visual effects will boost market growth over the forecast period.
Opportunities
Growing Preference to Create HD Content to Offer Robust Opportunities
The increased preference for creating HD content for video marketing for its higher resolution, improved content quality, and substantially higher number of pixels in comparison to standard-definition content will offer robust opportunities for the market in the forecast period.
Restraints
Increase in Software Piracy to act as Market Restraint
The increasing incidence of software piracy coupled with the presence of free and open source animation software may act as market restraints over the forecast period.
Challenges
Lack of Skilled Human Resources to act as Market Challenge
The lack of skilled human resources may impact the global 3D animation market share over the forecast period.
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Key Players
Eminent players profiled in the global 3D animation market report include Autodesk, Inc. (US), Image Metrics, Inc. (US), Corel Corporation. (Canada), Pixologic, Inc. (US), Maxon Computer (Germany), NewTek, Inc. (US), Toon Boom Animation Inc. (Canada), SideFX. (Canada), Foundry Visionmongers Ltd (UK), Trimble Inc (US), Adobe Systems Inc. (US), Sony Corporation (Japan), and NVIDIA Corporation (US).
The global 3D animation market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
Market Segmentation
The global 3D animation market is segmented based on component, technology, and end user.
By component, the software segment will lead the market over the forecast period for the ability of the software in creating virtual objects which appear tangible and real and its growing need in 3D animated games and movies.
By technology, the 3D modeling segment will dominate the market over the forecast period. This technique allows for the creation of digital objects that is capable of being fully animated thus making it essential in the areas of character animation and special effects.
By end user, the media and entertainment segment will spearhead the market over the forecast period for the growing adoption of photorealistic representation in cinemas.
COVID-19 Analysis
The demand for 3D animation is increasing from the medical domain at the time of the COVID-19 outbreak for designing bio medical devices like respirators, tubing, ventilators, scanners, and accessories for main machines and other apparatus. Besides, its demand is also likely to increase from the media and entertainment industry owing to the growing trend to watch online content on OTT platforms like Disney Hotstar, Amazon Prime, and Netflix. All these are adding market growth.
Regional Analysis
North America to Sway 3D Animation Market
North America will sway 3D animation market over the forecast period. The presence of several key consumers, the widespread of adoption of 3D animation technology, increasing investment in R&D processes by leading players, the presence of major players in 3D technology, growing demand for 3D animation in movies in Canada and the US, online gaming becoming graphically more impressive and intricate, and superior quality animation and gameplay variety are adding to the global 3D animation market growth in the region.
Industry Updates
Nekki has released a new variety of physics-based 3D animation Cascadeur with major improvements. This is a productive tool for experts yet it is also aimed at animation beginners.
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