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3D Animation Market Will Upsurge Spontaneously With Revenue Of USD 39.96 Billion By 2028 Due To Increased Use Of Visual Effects (VFX) In Movies | Grand View Research, Inc.

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3D Animation Market Will Upsurge Spontaneously With Revenue Of USD 39.96 Billion By 2028 Due To Increased Use Of Visual Effects (VFX) In Movies | Grand View Research, Inc.

May 16
06:36 2022
3D Animation Market Will Upsurge Spontaneously With Revenue Of USD 39.96 Billion By 2028 Due To Increased Use Of Visual Effects (VFX) In Movies | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the increased deployment of 3D animated videos to create graphic illustrations of various heavy machinery elements in the manufacturing industry is anticipated to be the key market growth driver.

3D Animation Industry Overview

The global 3D animation market size was valued at USD 16.64 billion in 2020 and is estimated to reach USD 39.96 billion by 2028, registering a CAGR of 11.7% from 2021 to 2028

Increased preference to create High-Definition (HD) content, especially for video marketing, owing to its higher resolution, substantially higher number of pixels, and improved content quality compared to standard-definition content, is likely to positively impact the growth. The increased deployment of 3D animated videos to create graphic illustrations of various heavy machinery elements in the manufacturing industry is anticipated to be the key market growth driver. The augmented demand for the technology from several industrial verticals due to the increasing use of simulation in the design of industrial tools by OEMs has facilitated the penetration of 3D animation solutions worldwide. The increased deployment of simulation software and services in industries such as manufacturing, architecture and construction, media and entertainment, education, defense, and healthcare is fueling the industry’s growth.

Gather more insights about the market drivers, restrains and growth of the Global 3D Animation market

The promising pace of expansion of the media and entertainment sector, which is one of the key adopters of simulation software, is also contributing to the growth of the 3D animation market. The photorealistic representation feature of the simulation technique is expected to surge the demand from the media and entertainment sector. Moreover, the rising consumption of media and entertainment content for kids is expected to drive the demand for 3D animated content soon. Furthermore, the rising trend of integrating 2D and 3D animation, such as implanting 2D overlays with movement in big-budget commercial videos and small-scale digital adverts, is providing promising growth opportunities to the market. The growing preference of designers to retro motion graphics for adding a nostalgic effect to videos, along with morphing of images and logos to offer smooth and swift transition is furthering the demand for 3D animation technology.

                                                                                U.S. 3D animation market size, by technique, 2018 - 2028 (USD Billion)                                             

3D animation solutions are creating new opportunities in the education and academics sector by exploiting the motion and sight benefits of the technology for students. In the medical field, technology enables better learning for healthcare students by allowing the virtual assembly and study of organs in human anatomy education. Medical schools are increasingly deploying simulated videos for providing visual knowledge and a better understanding of human anatomy. Technology is also transforming the medical field by allowing medical students to carry out dissections without harming a living animal. Moreover, the deployment of 3D simulation in the healthcare sector has facilitated developments in medicines and treatments.

The significant usage of Visual Effects (VFX) across several areas, particularly the entertainment and gaming industries, has positively impacted market growth. Moviemakers, game developers, and animators are expected to increasingly use VFX technology soon. Furthermore, the emergence of Virtual Reality (VR) and Artificial Intelligence (AI) is expected to provide promising growth opportunities for the market. There has been a growing demand for immersive content for various applications, such as billboards, scientific visualization, creative arts, gaming, and simulations. Moreover, the rising adoption of 3D mobile applications and 3D mapping technology for navigation purposes is driving the market.

In the wake of the COVID-19 pandemic, several governments globally imposed curfews and levied stringent regulations on outdoor activities to curb the spread of the virus. The lockdown led to a massive rise in demand for high-quality entertainment at home, encouraging media and entertainment companies to upgrade their video content. The use of simulation technology is allowing media companies to offer viewers an advanced visualization experience to shop, learn, and work while being involved in recreational activities. Moreover, the increasing adoption of 3D modeling technology for various applications such as 3D printing, Computer-Aided Design (CAD), marketing, scientific and medical imaging, manufacturing, video games, and motion pictures is expected to drive market growth.

3D Animation Market Segmentation

Based on the Technique Insights, the market is segmented into 3D Modeling, Motion Graphics, 3D Rendering and Visual Effects.

  • The 3D modeling technique segment accounted for the largest revenue share of over 30.0% in 2020 and is expected to maintain dominance over the forecast period.
  • The motion graphics segment is anticipated to witness substantial growth from 2021 to 2028. The technique witnesses high demand as it offers life to animated videos.
  • The visual effects segment is expected to observe the fastest growth from 2021 to 2028, recording a CAGR of over 13.0%.  

Based on the Component Insights, the market is segmented into Hardware, Software and Services.

  • The hardware segment captured a considerable revenue share of the market in 2020. It comprises motion capturing systems, video cards/GPUs, workstations, and other equipment.
  • The 3D animation software segment accounted for the largest revenue share of over 50.0% in 2020 and is expected to retain its dominance over the forecast period.

Based on the Deployment Insights, the market is segmented into On-premise and On-demand

  • The on-premise segment accounted for the largest market share of over 60.0% in 2020 as many key companies in the VFX and visualization business are extensively deploying on-premise solutions.
  • The on-demand segment is expected to witness the fastest growth from 2021 to 2028, registering a CAGR of nearly 13.0%.

Based on the End-use Insights, the market is segmented into Media & Entertainment, Architecture & Construction, Education & Academics, Manufacturing, Healthcare & Life sciences, Government & Defense and Others.

  • The media and entertainment segment accounted for the largest revenue share of around 35.0% in 2020 and is expected to maintain its dominance over the forecast period.
  • The education and academics segment is anticipated to observe significant growth due to the development of various training applications, software, and e-learning platforms deploying simulated content and videos in the curriculum.
  • The manufacturing segment is expected to observe the fastest CAGR of nearly 13.0% from 2021 to 2028.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • The North American region accounted for the largest revenue share of around 40.0% in 2020.
  • The Asia Pacific region is expected to observe the fastest CAGR of nearly 13.0% over the forecast period. 

Market Share Insights:

  • March 2020: Fusion Animation, an action medical animation video maker for the Pharma and Healthcare industries, unveiled a 3D model of the surface of the COVID-19 virus for scientists to research on possible treatments to combat the pandemic.
  • January 2019: Google LLC collaborated with Sony Pictures Imageworks and launched OpenCube, a render manager, which allowed the company to strengthen its rendering process.

Key Companies Profile:

The market features a fragmented competitive landscape and the presence of numerous global as well as regional players. The market witnessed a surge in demand during the COVID-19 pandemic due to the increase in demand for designing biomedical devices such as respirators, scanners, accessories, ventilators, and tubes.

Some prominent players in the global 3D Animation market include

  • Autodesk, Inc.
  • Corel Corporation
  • Adobe Systems Incorporated
  • NVIDIA Corporation
  • Side Effects Software Inc.
  • Maxon Computer

Order a free sample PDF of the 3D Animation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Web: https://www.grandviewresearch.com

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