Market Overview
The worldwide 3D Animation Market is projected to achieve a market share of a CAGR of 11.43% during the forecast period of 2030. Usually, 3D animation is the effective procedure for creating and developing moving images where advanced technologies have been involved.
In the past few years, the global market has changed a lot because of the growing improvement in the media and entertainment sectors. The increasing adoption of visual effect technology among various entertainments and movies sector and the involvement of GPS and navigation technologies are growing the global market demand in the review period.
However, the global 3D Animation Market might get affected in the forecast period due to the software privacy and high cost of maintenance.
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Market segmentation
The global 3D animation market has been classified into different sections such as end-use, components, and deployment. The global market has been divided into hardware, software, and service based on the components segment. Of these, the software segment has anticipated generating nearly 50% of the market share, which also include plug-ins, packaged software solutions, software development kits. On the other hand, the hardware segment is projected to hold a high market share for the year 2020 due to the increasing medical forensics and technological advancement across the world. Further, the services segment has witnessed rapid growth in the training and education sector.
The worldwide market has been categorized into architecture, media and entertainment, manufacturing, education & academics, healthcare, government, life sciences, and many others in terms of the end-user segment. Of these, the media and entertainment segment is estimated to create 35% of the market share in 2020 due to the high growth rate of games, commercial content, VFX in movies, and others. Moreover, significant growth has been witnessed in the education and academic segments due to the rapid development of software programs, e-learning, and training.
On the basis of deployment segment, the current 3D animation market has been classified into cloud-based and on-premise. Among all, the on-premise segment is expected to hold nearly 60% of the market share for the year 2020 due to the cost-saving opportunities, offering efficient data security, and managing data. Moreover, high growth has been witnessed in the cloud-based segment in the forecast timeframe due to the rising adoption of cloud technologies among various organizations and animation developers.
Regional analysis
The 3D animation market is segmented into different regions such as South America, North America, the Middle East, Africa, Europe, and others. Due to the rapid adoption of mobile applications, visualization, and 3D gaming, these regions are growing.
Out of the entire region, the North American market was generated a market share of 42.1 % and valued at USD 49917 billion and is further estimated to acquire the market growth of 13.6% during the research period.
Moreover, the Asia- Pacific market is projected to hold the highest market growth by estimated to hold 32% of market share and USD 3799 million of market value over the review period.
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3D Animation Market Recent Developments in 2023
1. Increasing Demand for Virtual Reality Content: With the rise of virtual reality technology and its mainstream adoption, the demand for 3D animation content has increased significantly. As a result, various companies are leveraging technology to create immersive experiences and engaging content. This has led to a growing demand for 3D animation services.
2. Growing Use of 3D Animation in Digital Marketing: 3D animation is becoming increasingly popular for digital marketing campaigns. This is due to its ability to deliver engaging visuals that can help brands stand out from their competitors. Companies are now using 3D animation to create interactive ads, explainer videos, and product demos.
3. The Rise of Automation: Automation is becoming increasingly popular in 3D animation production. This is due to its ability to reduce production times, as well as improve efficiency and accuracy. Automation also helps streamline the process of creating 3D sequences and visual effects.
4. Growing Use of Cloud-Based Software: Cloud-based 3D animation software is becoming increasingly popular due to its ability to reduce the cost of production and simplify the process. This is especially beneficial for small and medium-sized businesses that do not have the resources to manage complex software.
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