3D Animation Market to show a lucrative CAGR of 11.9% during the forecast period 2017 -2022
Research Cosmos forecasts the 3D animation market size to grow from USD 12.01 Billion in 2017 to USD 21.05 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.9%. Growing adoption of visual effects technology in movies, increasing demand for 3D mobile applications and games, and increase in the use of 3D mapping technology in navigation and geospatial analysis are some of the driving factors for the growth of 3D animation technology
Browse Market Data Tables and In-Depth TOC of the 3D Animation Market to 2022 at www.researchcosmos.com/reports/glo…ssessment/3922408
3D animation market is segmented based on technology, service, vertical, region, and deployment model. 3D animation technology segment is categorized into modelling, motion graphics, rendering, visual effects (VFX), and others.
3D modelling holds the largest market share in the technology segment, as it is the most important stage for developing a 3D animation project.
Services segment is categorized into consulting, support & maintenance, integration & development, education & training. Education and training segment is growing at the rapid pace as compared to other, owing to increase in the use and awareness of 3D animation in various verticals.
3D animation software can be deployed in two different ways, namely on-premises and on-demand. The geographic market is divided into five different regions, namely North America, Europe, Asia-Pacific, Latin America and MEA.
The vertical market segment is categorized into media & entertainment, construction & architecture, healthcare & life sciences, manufacturing, education & academia and others. The 3D animation is widely used in films, gaming and other infotainment documentaries owing to which the media and entertainment vertical is dominating the market.
In addition, the 3D modeling technology is being used to create 3D representations of objects with the help of weight control points and digital sculpting
North America holds the largest market share and APAC is growing at the highest CAGR in the 3D animation market, however MEA and Latin America are still in the initial phase of growth stage. Lack of government initiatives and poor finance are some of the major factors, which are restraining the growth of 3D animation in these regions.
North America is expected to hold the largest market share and would dominate the 3D animation market from 2017 to 2022. This region has the major dominance with sustainable and well-established economies, empowering them to strongly invest in R&D activities, thereby contributing to the development of new technologies in modeling and 3D rendering.
Further, the government support and heavy investments by various well-established production houses are driving the growth of the market in North America region.
APAC has witnessed the highest CAGR in the 3D animation market, owing to dynamic adoption of new 3D animation technologies and holding of the production facilities for most of the western industry leaders. Countries such as Japan, China, Singapore, Australia, and India are gaining traction and are taking various initiatives in-terms of research & development and supporting animation studios.
The 3D animation market is rapidly gaining traction, which is evident from recent developments, new product launches, and acquisitions by the major market players, such as Autodesk, Maxon, NewTek Inc., and NVIDIA Corporation who offer 3D animation software and services to the commercial clients. The market study also measures and evaluates the offerings of key vendors in the market, along with vendors who are offering highly innovative offerings, such as Pixologic, SideFX, 3D Coat, and Hash Inc.
Despite the rapid adoption of 3D animation in various verticals, the continuous exposure to corruption & piracy, low level of proficiency, intense competition, and price sensitivity are some of the challenging factors for the growth of the market.
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