The 3D animation software market size is expected to grow from $18,255. 51 million in 2021 to US$ 39,395. 09 million by 2028; it is estimated to grow at a CAGR of 11. 6% from 2021 to 2028.
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The developing trend of virtual reality (VR) and artificial intelligence (AI), and the increasing demand for 3D mobile apps and games are the key factors driving the 3D animation software market growth.Furthermore, advancements in technologies, and the increased use of animation Software for educational training and healthcare applications are expected to propel the market growth during the forecast period.
Growing demand for 3D animation software in the education sector along with penetration of mobile devices, and the rising popularity of video streaming, VFX, and video games have fueled the 3D animation software market. The usage of virtual reality technology in the production and design of 3D animated content is opening significant growth prospects in the 3D animation business.
3D Animation Software Market analyzed by technology, the 3D animation market is segmented into 3D modeling, motion graphics, 3D rendering, visual effects (VFX), and others. The 3D modeling segment accounted for the largest 3D Animation Software market share in 2020 and is expected to record the highest CAGR in the market during the forecast period. The market growth of this segment is ascribed to a wide scope of 3D animation software in film, television, video games, architecture, construction, product development, science and medical industries to visualize, simulate, and render graphic designs. The visual effects segment is expected to record the highest CAGR in the 3D animation software market during the forecast period, and the future growth of this market is attributed to the integration of live-action footage and VFX for creating characters and realistic objects in cinema, commercials, and video games. The increasing use of digital video streaming channels such as Netflix, Hulu, and Amazon Prime Video with the burgeoning demand for high-quality content is a prominent factor contributing to the 3D Animation Software market growth for the visual effects segment.
3D Animation Software Market analysis by deployment, the 3D animation market is segmented into cloud-based and on-premises. The cloud-based segment accounted for a larger 3D Animation Software market share in 2020. Cloud-based deployment offer a pay-as-you-go model that is a cost-efficient solution for animation software providers. The 3D Animation Software market growth of the on-premises segment is ascribed to data security and privacy regulations. It provides a particular level of control to enterprises.
Based on the application, the 3D animation market is segmented into healthcare & life sciences, education & research, media & entertainment, manufacturing, and others.The media & entertainment segment accounted for the largest 3D Animation Software market share in 2020.
This sector includes movies/cinema, music, publishing, television, radio, internet, advertising, and gaming segments.Growth in internet penetration and smartphone connections have also fueled the demand for media and entertainment channels, which boosts the adoption of animation software to bring the desired visual effects in the content being streamed on these channels.
Thus, such growth prospects from M&E industry have accelerated the adoption of animation software to bring the desired visual effects.Hence, with such changing trends in this industry, M&E companies have innovative opportunities to serve their current and potential customer base.
The animation software plays a crucial role in healthcare & life sciences industry facilitating a better understanding regarding the compound functions in a human body, which has significantly widened the scope for 3D animation software industry. The 3D animation is extensively used to create representative scientific visualization for the purpose of research and analytical studies. It is also used to create 3D models for realistic visualization in education and research sector. Thus, such growth prospects in 3D animation software for various applications is fueling the market growth.
The 3D animation market in North America held the largest market share in 2020.The 3D animation market growth in the region is attributed to the presence of numerous significant customers in the US, such as Fox Studio, Disney, and Nickelodeon; the general use of 3D animation technology; and increased investment in R&D processes by regional industry leaders.
In Canada, engineers and construction experts are using 3D rendering software to enhance visualization and simulation. 3D rendering software help architects to overcome design flaws, triggering for cost benefit in the manufacturing and construction phases.
Asia Pacific region is the fastest growing market for 3D animation software. Swift developments in technologies, initiatives from governments to trigger the growth of various industries, and a rise in disposable incomes of the middle-income class groups are among the key factors propelling the overall economic growth in this region.
The region has strongly emphasized the formalization of professional services in animation and visual effects (VFX) to serve the rapidly expanding media & entertainment sector. The growing application of simulation technology in creating training programs, software, and e-learning platforms driving the 3D animation software market in the Asia Pacific region.
Europe holds potential share for 3D animation software which is primarily attributed to the increasing acceptance of visual effects technology in movies, the growing demand for 3D mobile apps and games, and the rapid usage of 3D mapping technology in navigation and geospatial analysis.Furthermore, with The popularity of Building Information Modeling (BIM)’s, a 3D model-based, 3D mapping and modeling are growing emerging in the construction sector.
Around 15% of European movie admissions go to animation, while one-fifth of European animation film admissions go to European productions.Netflix, for instance, has been a frequent purchaser of European animated shows and films.
Thus, the factors mentioned above contribute to the growth of the Europe 3D animation software market.
A few of the major players operating in the 3D animation software market are Adobe, Autodesk Inc., Corel Corporation, EIAS3D, MAGIX, Maxon Computer GmbH, NewTek Inc., SideFX, Bondware Inc., and Strata, among others.
The 3D animation software market size has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the animation software industry.
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