3D Animation Market 2022
The market size of 3D animation is expected to be valued at US$ 61.2 Bn by 2031.
The global 3D Animation Market is expected to grow on a voluminous note in the next 10 years. With quantum computing establishing a foothold, data analysis is expected to happen on a speedy note. It would also help in facilitating high-frequency and fraud detection. In other words, the dictum that is likely to be followed by the ICT vertical going forward is “Speed is King”. 3D market is more inclined towards dentistry. At the same time, companies involved in digital manufacturing are experiencing a rising demand for the part volumes that exceed quantities of 500. This demand is actually grown by 163% since the year 2017. As such, continuous advancements in 3D printing production are bound to witness more of mass and serial production applications in various industries.
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As per the findings of a new market research by Persistence Market Research, the worldwide 3D animation market. reached a Revenue of around US$ 16.4 Bn in 2020, and is anticipated to surge at a CAGR of 12.9% over the next ten years.
3D animation is a type of process that helps in creating photorealistic 3D animations. It also visually depicts the assembly, configuration, and inner workings of a product in the form of an animated video. 3D animation solutions have offered the easiest and fastest ways to depict product simulation and develop animated training videos for businesses across various industries such as aerospace, automotive, mechanical, healthcare, and education.
3D animation software providers actively support industry collaborations in the simulation and digitalization sector. This advanced standard support helps key players bring products/solutions faster into the market.
- For instance, NVIDIA Corp. announced a major expansion of its Omniverse simulation and collaboration platform that includes new integrations with Blender, which is a free and open-source 3D computer graphics software, and Adobe, to open it to millions of developers and users.
- Adobe has collaborated with NVIDIA on a Substance 3D plugin that brings substance material support to Omniverse, unlocking new material editing capabilities for Omniverse and Substance 3D users.
- DeepMotion is a leader in physics-based animation, and has introduced 3D animation cloud service, an AI-powered platform that transforms 2D video/animated files into 3D animations for use in film, games, and other creative applications.
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Key Takeaways from Market Study
- The South Asia & Pacific region is expected to create lucrative growth opportunities for players in the market due to increased preference to create high-definition (HD) content in the media and entertainment sector.
- Key players are focusing on acquisitions to complement their product portfolios so as to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
- The market in the U.S. is projected to expand at a CAGR of 9.3% through 2031, while that in Germany at around 10.7%.
- Market growth in China, Japan, and India is expected to be much higher, at CAGRs of around 14.2%, 17%, and 22.9%, respectively.
“Key players are focusing on continuous developments and implementation of new technologies such as 3D modeling and visual effects (VFX) technology for creating visually enhanced imagery and training videos. 3D mapping and 3D laser scanning features will create attractive opportunities for 3D animation providers,” says a Persistence Market Research analyst.
Growing Adoption of Cloud-based 3D Animation Solutions Driving Market Growth
Continuous development and implementation of cloud-based 3D animation by content producers is creating potential growth opportunities for the market. For instance, in August 2020, Maxon offered usage-based rendering for its Cinema 4D and Redshift programs through the cloud rendering company, Conductor Technologies. Cinema 4D and Redshift customers can take full benefit of cloud computing capability to accelerate turnaround times and provide greater photorealistic and high-resolution imagery.
Cloud storage depends on organizational infrastructure to operate or manage data, and offering cost-saving and greater data security opportunities. Advanced features of cloud rendering allow servers to automatically process rendering once a user uploads their creation. Owing to such benefits, many large enterprises deploy cloud-based 3D animated solutions.
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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