Market Research Future Insights
The expansion of linked products has been accelerated by technological innovation. The visual effects industry, which is thought to be the primary driver of the 3D animation market business, is becoming more and more prevalent in the film and entertainment industries. Game designers and animators are heavily favouring VFX, which offers a simulated virtual world and enhances user experiences.
The need for mobile-compatible apps and games has surged as a result of the expansion of the telecommunications and smartphone industries. Software for smartphones and improved gaming experiences will thus be further development drivers for the 3D animation market.
Global advancements in GPS and navigation technology are also being made in the transportation and travel industries. The general public and travellers make good use of GPS and mapping devices to get where they’re going. 3D mapping has been progressively adopted by the automotive sector.
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Regional Analysis
The regional breakdown of the 3D animation market share includes North America, South America, Europe, the Middle East, and Africa. Rapid uptake of 3D gaming, visualisation, and mobile applications has created a development path in these industries. The market in North America, which accounts for 42.1% of global sales, was estimated at USD 49917 billion. It will have a 13.6% market increase over the course of the forecast period. The market in Asia-Pacific will grow at the fastest rate, earning a market worth of USD 3799 million and a market share of 32%. Market expansion will continue at a steady pace in other parts of the world as well.
Market Segmentation
Components, deployment, and end-use can be used to categorise the size of the 3D animation market.
It can be separated into software, hardware, and service components. 50% of the share was registered in the software area. Plug-ins, bundled software solutions, and software development kits are all included. Companies reaped a large market share in the hardware sector in 2020. The hardware industry has seen constant improvement. Additionally, the growth rate within the hardware sectors has increased due to rising technical development and medical forensics. With the education and training sector’s quick penetration, the services segment will also experience growth.
The market is further segmented into on-premise and cloud deployments. According to this hypothesis, the on-premise sector will hold 60% of the market in 2020. The infrastructure of the business heavily relied on on-premise storage, which provides effective data protection and cost-saving opportunities. Additionally, the demand sector will experience rapid expansion over the course of the projection period as a result of cloud technologies’ adoption by enterprises and animation developers. Once the user has uploaded their creation, cloud rendering services aid in automatic operations. It speeds up the process while also assisting in freeing up storage space.
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The market will also be divided into media and entertainment, architecture, education & academics, manufacturing, healthcare, life sciences, government, and other sectors based on end-use. Due to the growth rate of VFX in movies, commercial material, games, and other media, media and entertainment will have a market share of about 35% by 2020. Rapid advancements in simulation technology have aided clients in having a thorough visualising experience. Due to the quick advancement of software, e-learning, and training, tremendous expansion in education and academia has been predicted. The use of CAD software, designing, and construction techniques will significantly increase in the manufacturing, architectural, and construction sectors. It is predicted that animation technology will advance in the public sector at a CAGR of 11.5%.
Key Players
- 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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