3D Animation Market Size, Share, Trend & Growth | Forecast 2031

Report Description

3D Animation Market Outlook 2031

The global 3D animation market size was valued at USD 1.56 Billion in 2022 and is projected to reach USD 4.36 Billion by 2031, expanding at a CAGR of 12.1% during the forecast period 2023 - 2031. The growth of the market is attributed to the advancement of technologies in the 3D animation video technology, increased usage 3D animation in the manufacturing sector for better understanding of the product components and production of high-graphics videos.

3D animation is an art of drawing inanimate objects using smart devices such as computers and laptops and producing them into a motion picture. 3D animation initially found applications in the entertainment industry such as films, television shows, anime, cartoons, and video games.

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Additionally, the virtual art is widely adopted by several other industrial verticals to study their products and services. Using 3D animation, an enterprise can easily examine every aspects and angles of products visually and provide scope for enhancing features and functions of the same.

Many of the tech giants are developing several 3D technology to improve the use of visual representation of targeted objects. For instance, Microsoft created a general tool for all market players to rely on while working on presentation, visualization, and understanding their products in different means.

This tool is called Microsoft PowerPoint and it offers all features for the businesses and enterprises to present their findings in effective and attractive visualization. However, many researchers are in the opinion that these business organization require more sophisticated tools to perform specific functioning of 3D visualization for some particular industries.

3D Animation Market Trends, Drivers, Restraints, and Opportunities

• Increasing implementation of virtual reality technology and other visual effects for the production of films and entertainment videos are expected to drive the 3D animation market growth.
• Rising demand for mobile applications in 3D and rapid introduction of innovative 3D mapping technology for navigation and GPS present key driving factors for the 3D animation market.
• Wide applications of 3D modeling in various fields such as video gaming, marketing, manufacturing, health care, computer-aided designing, and medical imaging are projected to boost the market.
• The COVID-19 pandemic has a major impact on the market since it put a halt to function several industries such as entertainment, education, and manufacturing. However, unlike the other industries, this market has also never dipped as the 3D animation artists were still able to create their artwork.
• Technological advancement and massive R&D activities for the advancement of 3D modeling are major aspects that can create opportunities for the 3D animation market expansion.

Scope of 3D Animation Market Report

The report on the global 3D animation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global 3D Animation Market Segment Insights

3D modeling segment to account for a major market share

On the basis of techniques, the global 3D animation market share has been segmented into 3D modeling, 3D rendering, visual effects, and motion graphics. The 3D modeling segment is expected to hold a major revenue share during the forecast period owing to its wide applications and extensive available of the technology.

Some applications can run without motion graphics or 3D rendering but without the 3D modeling, these applications will not be able to function properly. Many advertisements and commercials are running on visual effects to engage the audience, which can contribute to the segment growth.

On the other hand, the 3D rendering segment is projected to exhibit a healthy growth rate in the coming years due to its wide adoption in several industrial applications. The rendering technique involves the projection of photorealistic representations and blueprints that allow graphic artists and engineers for environment projects and product designing.

This technology is utilized heavily by business organizations for their advertisement campaigns while academic researchers & organizations use it for innovative visualizations and consolidation processes. However, only a selected number of individuals are successful in the utilization of the technology, which is one of the primary reasons why 3D rendering is not very popular in the 3D animation market.

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Software segment is expected to represent a key share

Based on components, the 3D animation market share is divided into hardware, software, and services. The software segmented is further categorized as software development kits, packaged software solutions, and plug-ins. The software segment held a large market share in 2020 and is expected to represent a key share of the market during the forecast period. Animation software is also widely used for the development of special effects such as motion graphics used in video games, movies, television shows, and other media.

Additionally, the segment growth can be attributed to rising innovation of advanced software for 3D modeling and mapping. Development of technology including stereoscopic imaging, hyper realism, and dynamic animation are driving the growth of the segment. Television commercials have also taken a step forward towards innovation with the help of 3D animation software. The Dreamer, created by Roof Studio, presented a near realistic experience of driving on uneven surfaces and terrains.

On-demand segment to register a rapid CAGR

Based on deployments, the global 3D animation market is bifurcated into on-premises and on-demand. The on-premises segment constituted a major share of the market in 2020 and is projected to exhibit a substantial market share in the coming years.

However, the on-demand segment is anticipated to register a rapid CAGR in the forecast period 2021-2028 owing to high deployment of the on-demand system to reduce the infrastructure costs of the organizations and provide high efficiency. Additionally, the rising expansion of cloud-based deployment is another key factor boosting the segment growth.

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Media & Entertainment segment to hold a considerable share

Based on end-users, the global 3D animation market share is segmented into media & entertainment, architecture & construction, manufacturing, government & defense, education & academics, healthcare & life sciences, and others. The media & entertainment segment is anticipated to hold a considerable share of the market during the forecast period 2021-2028 owing to wide utilization of the innovations of 3D animation in media and entertainment industries.

However, the invention of Autodesk and Solidworks have made a huge impact on the architecture and civil engineering departments, as it helps to provide effective multiple drawings along with the three-dimensional models for different projections.

North America is projected to dominate the market

In terms of regions, the 3D animation market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a dominant share in the market and is anticipated to continue the trend during the forecast period 2021-2028. The regional market growth can be attributed to wide adoption of 3D technology in various field of research and business organizations especially in the US.

On the other hand, the market in Asia Pacific is anticipated to register a robust CAGR during the forecast period owing to establishment of major industries dealing with 3D technology in the region. India, Australia, China, and Japan are the major contributors to the regional market growth owing to the subsidies, tax rebates, and incentives being offered by the governments for the advancement of the market.

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