The 3D animation market is projected to reach $33.78 billion by 2026, with North America dominating. Key growth drivers include increased demand for high-quality content and cloud adoption.
A lead analyst at AMR highlighted the market across North America region is expected to dominate in terms of revenues throughout the forecast period.
Allied Market Research published a research report on the 3D animation market. The findings of the report states that the global market for 3D animation is expected to reach $33.78 billion by 2026, manifesting a CAGR of 11.6% from 2019 to 2026. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.
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“Healthcare sector is expected to attain significant growth in the upcoming years, owing to the rise in usage of 3D animated videos for assisting medical students to better understand the intricate human anatomy.” Pramod Borase, Research Analyst, ICT at Allied Market Research.
The report provides detailed information based on the key determinants of the market to assist market players in devising growth strategies. Rise in use of visual effects in movies, increase in demand for high quality content by consumers, and surge in adoption of cloud for animation fuel the growth of the global 3D animation market. On the other hand, presence of free & open-source animation software impedes the market growth. However, integration of virtual reality (VR) technology for visual effects creates new opportunities in the coming years.
The report provides a detailed scenario of impact of the Covid-19 pandemic on the 3D animation market globally. This helps the investors, market players, and new entrants to strategize according to impacts by the outbreak of the pandemic. The operations for organizations offering the 3D animation services and products have not been affected much during the coronavirus pandemic as employees can work from home. However, the demand for 3D animation from the media & entertainment and construction & manufacturing industries has been declined during the initial phase pandemic.
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The report offers detailed segmentation of the global 3D animation market on the basis of component, deployment mode, technology, industry vertical and region. These insights are helpful for the new entrants as well as current market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.
Based on component, the solution segment held the largest share in 2018, accounting for more than two-thirds of the total share, and is expected to maintain its dominant position during the forecast period. On the other hand, the service segment is estimated to cite the highest CAGR of 12.4% from 2019 to 2026.
Based on deployment mode, the on-premise segment contributed to the largest share in 2018, holding nearly three-fifths of the total share, and is expected to maintain the revenue share throughout the forecast period. Moreover, the cloud segment is projected to showcase the highest CAGR of 12.6% during the forecast period.
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Based on region, North America contributed the highest share, held more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. Conversely, Asia-Pacific is estimated to grow at the highest CAGR of 14.1% from 2019 to 2026. Other two provinces in the report include LAMEA and Europe.
Leading players of the global 3D animation market analyzed in the research include Pixologic Inc, NVIDIA Corporation, Sidefx Software, The Foundry VisionMongers Ltd, Corel Corporation, Zco Corporation, Maxon Computer, Adobe Systems Incorporated, Autodesk Inc, and Newtek Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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The article discusses the growth of the global 3D animation market, projected to reach $33.78 billion by 2026.
North America is expected to dominate in terms of revenue, while Asia-Pacific is projected to grow at the highest CAGR.
The healthcare sector is expected to see significant growth due to the rise in the use of 3D animation for educational purposes.
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