NEW YORK, Sept. 3, 2021 /PRNewswire/ -- As per the findings of a new market research by Persistence Market Research, the worldwide 3D animation market reached a valuation 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/solution fasters 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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COVID-19 Impact Analysis
The COVID-19 outbreak has disrupted different industries, including the 3D animation market. Lockdowns led to a huge rise in demand for high-quality (HD) entertainment at homes, encouraging media and entertainment sectors to develop their video content.
Demand for 3d animation software, 3D modeling and texturing, cloud-based 3D animation services, Mars Reconnaissance Orbiter (MRO) animations, and 3D modeling has increased during the lockdowns. This is fueling an increase in the demand for 3D animation software and services.
During the outbreak, 3D animation demand surged 2X in 2020-2021 as increased preference to create high-definition (HD) content becomes the new norm. Moreover, growing adoption of 3D modeling technology for different applications such as computer-aided design (CAD), 3D printing, marketing, scientific and manufacturing, medical imaging, video games, and motion pictures is anticipated to drive market growth considerably.
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Find More Valuable Insights
Persistence Market Research puts forward an unbiased analysis of the global 3D animation market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
To understand the opportunities in the market, it has been segmented on the basis of component (hardware (3D animation workstations/PCs, 3D motion capture systems, others (3D animation software (3D modeling/design software, 3D rendering software, others (services (3D animation design & development, consulting services, support & maintenance)), deployment (cloud-based, and on-premise), and application (media & entertainment, gaming, aerospace & defense, architecture & construction, education & academics, manufacturing, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
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