Visiongain has published a new report on 3D Animation Market Report to 2031: Forecasts By Component (Hardware {Motion Capturing Systems, Workstation, Video Cards, and GPU, Others}, Software, Services {Support and Maintenance, Integration and Deployment, Consulting}), By Technology (3D Modelling, Motion Graphics, 3D Rendering, Visual Effects, Others), By Deployment (On-Cloud, On-Premise), By Industry Vertical (Media and Entertainment, Education, Healthcare, Construction & Architecture, Others). PLUS, Profiles of 3D Animation Companies, and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.

The global 3D Animation market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.

3D animation is a software which uses computer graphics to generate three-dimensional moving images in a digital environment. The technology uses modelling and rendering technologies to generate 3D objects. The rising adoption of visual effects (VFX) technology in movies, the trend of digital marketing, and growing demand for 3D gaming, 3D visualization, and 3D mobile applications are the factors driving the growth of the 3D Animation market. The market seeks growth opportunities from leveraging 3D mapping technology for GPS and navigation and the use of 3D animation in medical applications. However, concerns related to software piracy and lack of technically skilled expertise are some of the factors hampering the market growth during the forecast period.

COVID-19 Impact on 3D Animation Market
The COVID-19 outbreak has affected the businesses and livelihood of the people at an unprecedented rate. The outbreak is expected to have a moderate negative impact on the market. Owing to the nationwide lockdown initiatives taken by the governments of the various countries have put the on-premise businesses processes on hold for a few months. Furthermore, the economic downturn which followed the pandemic has forced the enterprises to minimize the IT spending, which is expected to hamper the market growth. However, the revenue generated by pre-installed on-premise software will continue. Also, the cloud-based 3D animation software is witnessing demand owing to the benefits it offers in terms of cost, efficiency, productivity. The market is expected to be back on track by the end of 2020.

Market Drivers

Rising Adoption of Visual Effects (VFX) Technology in Movies
The visual effects (VFX) technology is revolutionizing the entire entertainment industry. The technology assists in creating special effects in movies which boosts up the overall experience owing to which the VFX technology has been increasingly used in big-budget films and regional cinemas. Media & entertainment giants such as the Walt Disney and Universal Studios among others are embracing 3D animation software and technologies. The 3D modelling, motion graphics, 3D rendering, and visual effects technologies are used by the companies to include special effects in the movies produced by them which is driving the demand of 3D animation software in the media and entertainment industry.

Rising Trend of Digital Marketing
With the rising penetration of Internet-based services, the trend of digital marketing is witnessing a rise. Digital marketing involves delivering advertising via digital channels. Businesses are keen on adopting the latest technologies for marketing their products to remain competitive in the market. Animation technology is being recently used for digital marketing. The 3D animation technology merges the information, entertainment, and creativity to deliver a highly interactive advertisement which boosts up the overall user experience. Thus, the rising trend of digital marketing is expected to drive the growth of the 3D animation market.

Market Opportunities

Leveraging 3D Mapping Technology for GPS And Navigation
GPS and Navigation based services are using 3D mapping technology to enrich the user experience. The location-based services which are offered via smartphones are based on 2D and 3D mapping technology. Moreover, the 3D mapping technology is also used in applications such as engineering design, environmental modelling, and urban planning. The 3D mapping and rendering models allow visualization of 3D scenes in real-time on smartphones. Thus, the use of 3D mapping technology for delivering enriched content and user experience for location-based and navigation services is expected to create growth opportunities for the 3D animation market during the forecast period.

Use of 3D Animation in Medical Applications
3D animation is playing a vital role in the healthcare industry, offering its benefits in the areas of marketing, education, and patient communication. Animation has proven to convey information efficiently from doctors to patients. Medical institutions are leveraging 3D animation technology for uploading various information on the website. The 3D animated information helps the patients in better understanding their medical conditions, the procedures they may undergo, or the medication they may need to take, which allows them to be better prepared. Moreover, 3D animation also helps educators to provide a visual display of the topics which helps in easy understanding. For instance, the 3D technology helps the students to easily understand topics such as anatomy of the human body or the effects of a disease on a person’s body. Thus, the growing adoption of 3D animation technology in medical applications involving marketing, education, and patient communication is expected to create growth prospects for the market in the forthcoming years.

Competitive Landscape
The 3D Animation market is highly competitive. The key market players are highly focused on developing 3D animation software with advanced features. The key market players are emphasizing on inorganic growth strategies such as mergers & acquisitions to broaden the product portfolio and obtain a competitive position in the market. Some of the companies profiled in the report include Trimble Inc., Corel Corporation, Adobe Systems Inc., Autodesk, Inc., Sony Corporation, Pixologic, Inc., Image Metrics, Inc., Maxon Computer, NewTek, Inc., and Toon Boom Animation Inc.

April 2019, Maxon Computers acquired Redshift Rendering Technologies, Inc., a US-based frame rendering solutions provider. This acquisition allowed Maxon Computers to boost its product and service offerings.

January 2019, Adobe Systems Inc. acquired Allegorithmic, a French-based company engaged in the development of 3D textures and material creation in games and videos post-production. The acquisition aimed at strengthening the capabilities of Adobe’s offerings and empower video game creators and VFX artists.

Notes for Editors
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