3D Animation Market - Rising R& D Activities After Pandemic to Boost Growth

3D Animation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2028

Leeds, West Yorkshire -- (SBWIRE) -- 10/22/2020 -- Latest market study on "3D Animation Market – Global Analysis and Forecast", the 3D animation market is projected to witness a significant growth attributed to its application in various sector such as automobile, health care, defense, aerospace, government and entertainment. This market report comprises of high understanding on the propelling factors of the market along with highlights of the key players in the market and their recent major strategies.

3D animation market by technology is segmented into 3D modeling, motion graphics, 3D rendering, and visual effect. On the basis of service, the global market is segmented into consulting, support and maintenance, integration and deployment, education and training. Based on the deployment type, the market is segmented into on-premises and on-demand. In terms of industry verticals, the market is segmented into media and entertainment, construction and architecture, healthcare and life sciences, manufacturing, education and academia among others.

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Key factors boosting the growth of the global 3D animation market is the increasing adoption of 3D visual effects and animation by the entertainment and media industry. Furthermore, government initiatives, such as incentives, subsidiaries, and tax reliefs, have been major growth propellants, especially in developing countries which portray an immense growth opportunity for the market. However, threat from piracy is expected to hinder the market growth during the forecast period

The Asia Pacific region is projected to grow at a very high pace due to dynamic adoption rate of novel 3D animation technologies and holding of the production facilities for majority of western industry leaders is propelling the growth. Moreover, North American region is anticipated to command the maximum market share and would lead the 3D animation market owing to the presence of sustainable and well-established economies.

Some of the key players operating in the 3D animation market with most significant development includes Intel Corporation, Newtek Inc., Adobe Systems, Autodesk, Nvidia Corporation, Corus Entertainment, Maxon, Lenovo Group Ltd, Corastar, Inc., and Side Effects Software, Advanced Micro Devices Inc., and Corel Corporation among others.
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The market for 3D animation in Asia Pacific region is witnessing a high growth and is anticipated to hold considerable market share in terms of revenues for the forecast period. The market is highly influenced by the booming entertainment and media industry and demand for 3D animation in the same. Furthermore, countries such as Australia, Japan, Singapore, China, and India are gaining are taking several initiatives in-terms of research & development as well as supporting animation studios.

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Increasing adoption of visual effects, especially in the gaming industry coupled with the availability of experienced and cost-effective labor are expected to play a major role in driving the industry demand in the region. India, China, and Singapore are among the prominent countries in the region with expertise and skill-set and at the same time offer a low cost of production to the animators. Moreover, companies in this region are using this 3D animation technology for generating accurate information before the starting of final production which helps in reducing the production cost and time.

Additionally, many of the established players are adopting Mergers & Acquisitions (M&A) strategy to tackle the challenges of in-house research & development and to benefit from the cost-effective and experienced skilled labor. For instance, in April 2016, Autodesk, Inc. acquired Solid Angle S.L., which is a supplier of mobile phones, tablets, and 4G smartphones. The acquisition has helped Autodesk, Inc. to improve and render workflows within Autodesk, Inc.'s products and develop new rendering solutions.

Players are highly on expanding their market share in the Asia Pacific region attributed to the growing penetration of 3D animation market with booming media industry in the region. 3D animation is deployed across various sector such as automobile, health care, defense, aerospace, government and entertainment.

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