Dublin, Oct. 22, 2021 (GLOBE NEWSWIRE) -- The "Global 3D Animation Market Size, Share & Trends Analysis Report by Technique (3D Modeling, Visual Effects), by Component, by Deployment (On-premise, On-demand), by End Use, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global 3D animation market size is estimated to reach USD 39.96 billion by 2028, registering a CAGR of 11.7% from 2021 to 2028
The market for 3D animation is set to grow as a result of increased demand from consumers and the use in movies. The integration with AI has made simulations smoother, which will lead many more people adopting cloud services that offer these types of technologies.
AI technology is quickly becoming the norm in many industries, and companies like Autodesk rely on it to make their processes easier. For instance: when they acquired Spacemaker last year - an AI-supported software provider for urban development--it allowed them boost design speeds by leaps and bounds with enhanced modeling features such as automated building plans
The substantial adoption of VFX in the entertainment sector is expected to fuel market growth. The technique is being preferred to depict scenarios that cannot be shot in a real environment by game developers, movie makers, and animators.
The latest trend of applying VFX in adverts and infomercials to display products, using 3D elements such as animated logos, is anticipated to drive the growth of the market for 3D animation. Several entertainment businesses are exploiting techniques such as 3D videos, interactive 3D, virtual reality 3D, inverse kinematics, fluid simulation, and 3D skeletal animation in their media offerings.
For instance, Warner Bros. Entertainment Inc, Dreamworks Animation, and Disney (Pixar) are producing animated movies using these techniques, thus driving the market.
3D Animation Market Report Highlights
In terms of component, the software segment is expected to witness the fastest CAGR of over 12.5% from 2021 to 2028
In terms of end use, the media and entertainment segment accounted for the largest revenue share of over 35.0% in 2020 and is likely to maintain its dominance till 2028
The Asia Pacific region is anticipated to register the highest CAGR of nearly 13.0% over the forecast period as the market is witnessing a high deployment of advanced 3D technologies in various application areas
In terms of technique, the 3D modeling technique segment dominated the market in 2020 and is expected to maintain its dominance over the forecast period as this technique enables the designing and creation of digital objects
In terms of deployment, the on-premise segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. This growth can be attributed to the increased deployment of on-premise solutions in the VFX and visualization business
3D Animation market dynamics
Market driver analysis
Increasing adoption of visual effects in the media and entertainment industry
Growing use of 3D animation technology in segments other than media and entertainment
3Increasing competitiveness in the virtual reality, artificial intelligence, and augmented reality fields
Market restraint analysis
Threat from privacy
Adobe Systems Incorporated
Side Effects Software Inc.
The Foundry Vision Mongers Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/pizw8j
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