The global 3D animation market is prognosticated in a report by Transparency Market Research (TMR) to witness a massive influx of new players attracted to remunerative opportunities available. With a view to enjoy the advantage of skilled and cost-effective labor and take the edge off challenges related to in-house research and development, a significant count of players are expected to involve themselves in mergers and acquisitions. For instance, Solid Angle S.L. was acquired by Autodesk in April 2016. The market marks the presence of top players such as Adobe Systems Inc., Nemetschek SE, and Autodesk Inc.
TMR envisages the global 3D animation market to be worth a US$26.8 bn by the end of 2024 while rising at a 14.5% CAGR during the forecast tenure 2017-2022. In 2017, the market was valued at a US$13.6 bn. By hardware, it could be led by video cards and graphics processing unit (GPU), which accounted for a 35.7% share in 2017. Regionally, North America is anticipated to collect a lion’s share while expanding at a CAGR of 17.4%.
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Emergence of AI, VR, and AR Increases Competition, Encouraging Growth
The entertainment and media industry has been raising high demand for 3D animation with increased adoption in the recent years. Besides improved adoption of 3D animation and visual effects, the industry has been pushing the global market based on other important factors. The world 3D animation market could be boosted by the advent of AI, VR, and AR and increasing competitiveness as a result of it. Furthermore, rising interest in watching animated movies is predicted to set the tone for valuable growth of the market.
Uptake of 3D mapping technology could surge because of high demand for 3D mobile applications and games. Growth of the world 3D animation market is foreseen to see a rise owing to swelling adoption of the technology in geospatial navigation and analysis.
Piracy and Corruption Cause Demand for 3D Animation to See Downfall
The international 3D animation market has seen rapid adoption in different end-use industries such as education, healthcare, and manufacturing. However, vendors are foretold to face certain challenges in their operation. These include price sensitivity, low proficiency level, and constant exposure to piracy and corruption.
Nonetheless, there could be lucrative prospects birthing in the international 3D animation market due to new product launches and recent developments in the industry. This could be evidenced by the emergence of 3D-Coat, SideFX, Pixologic, and other highly innovative offerings. Some of the other powerful growth propellants of the market could be tax reliefs, subsidiaries, incentives, and other government initiatives. Moreover, expansion of the gaming industry owing to increased interest of teenagers in gaming is projected to create ample of opportunities in the market.
