According to the results of a new market research by Persistence Market Research, the global 3D animation market achieved a rating of around $ 16.4 billion in 2020 and is expected to rise to a CAGR of 12.9% over the next decade.
3D animation is a type of process that aids in creating photo-realistic 3D animation. It also visually shows the structure, configuration and inner workings of a product in the form of an animated video. 3D animation solutions provide the easiest and fastest way to display product simulations and develop animated training videos for companies in various industries such as aerospace, automotive, mechanical engineering, healthcare and education.
Providers of 3D animation software actively support industry partnerships in the field of simulation and digitization. This advanced standard support helps key players get products / solutions to market faster.
NVIDIA Corp. For example, announced a major expansion of its Omniverse simulation and collaboration platform, including new integrations with Blender, free and open source 3D computer graphics software, and Adobe to bring it to millions of developers and users.
Adobe has worked with NVIDIA on a Substance 3D plug-in that provides Omniverse Substance materials support and new material editing capabilities for Omniverse and Substance 3D users.
DeepMotion is a leader in physics-based animation and has introduced the 3D Animation Cloud Service, an AI-powered platform that converts 2D video / animated files into 3D animation for use in movies, games and other creative applications.
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Important findings from the market study
- the South asia & Pacific region is expected to create lucrative growth opportunities for market participants as high definition (HD) content is increasingly preferred in the media and entertainment sectors.
- The main players focus on acquisitions to complement their product portfolio to meet the needs of a wide variety of customers. Market participants also focus on offering products directly to end users in order to improve direct customer relationships.
- The US market is projected to grow at a CAGR of 9.3% through 2031 while this is in Germany at around 10.7%.
- Market growth in China, Japan, and India is expected to be much higher with CAGRs of around 14.2%, 17% and 22.9%, respectively.
“The main players are focused on the continuous development and implementation of new technologies such as 3D modeling and visual effects (VFX) technology for creating visually enhanced images and training videos. 3D mapping and 3D laser scanning capabilities will create attractive opportunities for 3D animation providers, ”says an analyst from Persistence Market Research.
Growing acceptance of cloud-based 3D animation solutions is driving market growth
The continuous development and implementation of cloud-based 3D animations by content producers creates potential growth opportunities for the market. For example in August 2020Maxon offers usage-based rendering for its Cinema 4D and Redshift programs through the cloud rendering company Conductor Technologies. Cinema 4D and Redshift customers can take full advantage of the cloud computing capabilities to reduce turnaround times and provide more photorealistic, high-resolution images.
Cloud storage depends on the organizational infrastructure to operate or manage data and offers cost savings and greater possibilities for data security. Advanced cloud rendering capabilities allow servers to automatically process the rendering as soon as a user uploads their creation. Because of these advantages, many large companies are using cloud-based 3D animated solutions.
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COVID-19 impact analysis
The COVID-19 outbreak has disrupted various industries, including the 3D animation market. Lockdowns resulted in a huge surge in demand for high quality (HD) entertainment in the home and encouraged the media and entertainment industries to develop their video content.
Demand for 3D animation software, 3D modeling and texturing, cloud-based 3D animation services, Mars Reconnaissance Orbiter (MRO) animation, and 3D modeling increased during the lockdown. This leads to an increasing demand for 3D animation software and services.
During the outbreak, the demand for 3D animation doubled in 2020-2021 as the growing preference for high definition (HD) content creation becomes the new norm. In addition, the increasing adoption of 3D modeling technology for various applications such as computer-aided design (CAD), 3D printing, marketing, science and manufacturing, medical imaging, video games, and motion pictures is expected to significantly fuel market growth.
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Find more valuable insights
Persistence Market Research provides an unbiased analysis of the global 3D animation market and provides historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
In order to understand the market opportunities, components (hardware (3D animation workstations / PCs, 3D motion capture systems, others (3D animation software (3D modeling / design software, 3D rendering software, others) (3D animation design and development, consulting services, support and maintenance)), deployment (cloud-based and on-premise) and application (media and entertainment, games, aerospace and defense, architecture and construction, education and science, manufacturing , and others), in the main regions of the world (North America, Latin America, Europe, East asia, South asia & Pacific and MEA).
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