Healthcare sector is expected to attain significant growth in the upcoming years, owing to the rise in usage of 3D animated videos for assisting medical students to better understand the intricate human anatomy.
Pramod Borasi Research Analyst, ICT at Allied Market Research
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According to a recent report published by Allied Market Research, titled, " 3D Animation Market by Component, Deployment Mode, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global 3D animation market was valued at $14.08 billion in 2018, and is projected to reach $33.78 billion by 2026, growing at a CAGR of 11.60% from 2019 to 2026.
3D animation is a method in which pictures or images are manipulated to appear as moving object. In addition, animation is an illusion created by showing a series of pictures in rapid succession. It is used for color grading, concept art, match moving, compositing, 3D modelling, rotoscoping, and matte painting. One of the major advantages of animation include conveying complex information to customers in simplest format, without an internet connection. Moreover, rise in the use of 3D mapping technology in navigation and geospatial analysis is expected to create lucrative opportunities for the market growth.
The 3D modelling segment dominated the 3D animation market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to its usage in different industry vertical for generating pictorial image of the image. Furthermore, visual effects segment is expected to grow at a significant CAGR during the forecast period, owing to the rise in demand for visual effects solutions for producing the Sci-fi, fictional movies, and reducing the production cost of films.
The media & entertainment sector dominated the 3D animation market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to the increase in adoption of animation for attracting the customers and providing a realistic view in the movies. Furthermore, the healthcare sector is expected to grow at a significant CAGR during the forecast period, owing to its numerous benefits developing the different medical areas such as marketing, education and patient’s communication.
By region, the global 3D animation market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region includes growing adoption of motion graphics and VR across various end use industries. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to increase in demand for 3D animation features, such as modification and augmentation of live action from various different film industries in China and India.
Key Findings of the Study:
By component, the solution segment led the 3D animation market size in terms of revenue in 2018.
By deployment model, the cloud segment accounted for the highest 3D animation market share in 2018.
By industry vertical, the media & entertainment segmented accounted for the highest 3D animation market share in 2018.
By region, North America generated the highest revenue in 2018.
The key players profiled in the 3D animation market analysis are Autodesk Inc, Adobe Systems Incorporated, Corel Corporation, Maxon Computer, Newtek Inc., Pixologic Inc, Sidefx Software, NVIDIA Corporation, The Foundry VisionMongers Ltd, and Zco Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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3D Animation Market by Component (Solution and Services), Deployment Mode (On-Premise and Cloud), Technology (3D Modelling, Motion Graphics, 3D Rendering, Visual Effects, and Others), Industry Vertical (Education, Media & Entertainment, Healthcare, Construction & Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
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