Market Research Future (MRFR) studied the impact of COVID-19 on the Global 3D Animation Market Forecast 2020. The COVID-19 breakthrough for the market is studied and through analysis of the impact of the coronavirus on the 3D animation market. As per MRFR study, the 3D animation market is likely to rise at 13.8% CAGR across the assessment period 2018–2024.
The growing presence of moving images in the digital era is expected to cause the expansion of the 3D animation market in the years to come. The highly favoring 3D animation tend can support the expansion of the 3D animation across the assessment period. The rapid expansion of the media and entertainment sector can impel the expansion of the worldwide 3D animation market.
The rise in the demand for 3D animation can be attributed to the high adoption of visual effects technology in different movies. The increase in the demand for 3D gaming, 3D mobile applications, 3D visualization, and flourishing trend of digital marketing are other factors that can promote the expansion of the 3D Animation market. The availability of effective 3D animation software for the creation of highly preferred 3D animation movies can drive the 3D market across the global market. Key market players of the media and entertainment industry, such as The Walt Disney Company, Universal Studios Inc., DreamWorks Animation, Pixar, Warner Bros. Animation, and others adopting 3D animation technologies and software for 3D modeling, 3D rendering, motion graphics, special effects, and visual effects to create movies that can drive the growth for the 3D animation market. The increase in the instances of software piracy can limit the 3D animation market growth.
The segment study of the 3D animation market is based on technology, end-users, and component. The component based segments of the 3D animation market are Hardware, Service, and Software. The technology based, 3D animation market are 3D rendering, System Integration & Deployment, Visual Effects and Motion Graphics, 3D modelling, and Support & Maintenance among others. The end-user based segments of the market are Education, Media & Entertainment, Architecture, and Healthcare among Others.
3D animation technology covers 3D rendering, motion graphics, 3D modelling, and visual effects among others. The growing popularity of 3D modeling software across 3D animation across reputed players, such as Cinema4D, Maya by Autodesk, SketchUp, and Blender among others. The wide application of 3D modelling can boost the expansion of the world market of 3D animation.
By region, the 3D animation market segments are Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. In North America, the 3D animation market is expected to garner the largest share of the world 3D animation market. In 2017, the 3D animation market held 42.1% of the world market. The regional market can rise at 13.6% CAGR across the forecast period and touch a value of USD 4,991.7 million by the end of the assessment period. In Asia Pacific, the 3D animation market can rise at 16.5% CAGR and value at USD 3799.95 Mn by 2024. The increased in the demand for 3D animation across the film industry in Europe can boost the market in the years to come.
MRFR registered key players of the worldwide 3D animation market. They are Maxon Computer (Germany), Image Metrics, Inc. (US), Autodesk, Inc. (US), Sony Corporation (Japan), NewTek, Inc. (US), Pixologic, Inc. (US), Foundry Visionmongers Ltd (UK), Toon Boom Animation Inc. (Canada), Trimble Inc (US), SideFX. (Canada), Corel Corporation. (Canada), Adobe Systems Inc. (US), and NVIDIA Corporation (US).
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