The global 3D animation market has grown hand in hand with the rising use of digital imaging and modeling technologies and has now become an integral part of several end use sectors. The global 3D animation market is likely to undergo rapid growth over the 2017-2024 forecast period due to consistent growth in demand from leading end users such as the media and entertainment sector. The rising utility of 3D animation technology due to complementary upgrades in other areas of the digital imaging sector is likely to drive smooth growth of the global 3D animation market over the coming years. The global 3D animation market is likely to exhibit a strong 14.5% CAGR over the 2017-2024 forecast period, according to Transparency Market Research.
The global 3D animation market is likely to reach a valuation of US$13.6 bn by the end of 2017 and further rise to US$26.8 bn by the end of 2024. Growth of the global 3D animation market is driven primarily by the growing sophistication of 3D animation technology, which has diversified its utility and stretched the boundaries of what the 3D animation market is capable of and where it can be applied.
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Video Cards and GPU to Remain Dominant Hardware Component in 3D Animation Market
By hardware type, the report segments the global 3D animation market into video card and GPU, motion capturing systems, workstations, and other hardware. Of these, video cards and GPU are likely to remain the dominant contributor to the global 3D animation market in the coming years due to the crucial importance of these components of the final output of the 3D animation processes. The video cards and GPU segment accounted for 35.7% of the global 3D animation market in 2017, with a valuation of more than US$4.8 bn, and is likely to rise to a valuation of US$9.7 bn by the end of 2024, accounting for 36.4% of the global 3D animation market.
Media and Entertainment Industry to Dominate Demand from 3D Animation Market
By end use, the global 3D animation market is segmented into media and entertainment, construction and engineering, architecture, manufacturing, healthcare, education, and others. The media and entertainment sector is likely to dominate demand from the global 3D animation market over the 2017-2024 forecast period due to the diverse applicability of 3D animation in the entertainment sector. The construction and engineering and manufacturing sectors are likely to remain important contributors to the global 3D animation market due to the rising prominence of 3D modeling in these sectors.
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North America to Remain Leading Regional Market for 3D Animation
Geographically, the global 3D animation market is dominated by North America, which accounted for more than a third of the global market in 2017. The North America 3D animation market is likely to reach a valuation of US$4.6 bn by the end of 2017 and further rise to close to US$10.4 bn by the end of 2024, at an attractive 17.4% CAGR therein. This will ensure North America remaining the dominant regional contributor to the global 3D animation market over the 2017-2024 forecast period.
Global 3D Animation Market: Competitive Dynamics
Leading companies in the global 3D animation market include Autodesk Inc., Adobe Systems Inc., Nemetschek SE, NewTek Inc., NVIDIA Corp., Side Effects Software Inc., Smith Micro Software Inc., Intel Corp., BOXX Technologies Inc., and Advanced Micro Devices Inc. The global 3D animation market could witness the entry of several new players over the coming years due to the lucrative prospects of the market over the 2017-2024 forecast period.
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