The global 3D animation market is expected to witness a massive entry of new players attracted to various opportunities available in this market, observes Transparency Market Research (TMR). The various players operating in the global 3D animation market are adopting various strategic mergers and acquisitions in order to gain a foothold in the global market.
The manufacturers are largely focused toward research and development activities to create new innovative product and to maintain competition in this market. The key players operating in the global 3D animation market are Autodesk Inc., Adobe Systems Inc., and Nemetschek SE. The market demonstrates fragmented structure owing to the presence of large and small players in the global 3D animation market, finds TMR.
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The revenue generated by the global 3D animation market stood at US$13.6 bn by the 2017 end and it is expected to touch worth of US$26.8 bn by the 2022 end. The global 3D animation market is projected to grow at robust CAGR of 14.5% during the course of the forecast period from 2017 till 2022.
On the basis of end use, the entertainment and media industry is likely to lead the global 3D animation market throughout the forecast period. This is also due to the various applications of 3D animation in the entertainment industry. Geographically, North America dominates the global 3D animation market. As the North America market for 3D animation is likely to hold one-third of the overall share in 2017.
Increasing demand from Media and Entertainment Sector to Drive Market Growth
The increasing usage of modeling technologies and digital imagining has become an essential part of various end-user sectors, which is likely to support the growth of the global 3D animation market. In addition, the global 3D animation market is likely to experience significant growth owing to the increasing demand from various end-users, for example, in the entertainment industry and media industry. Additionally, the increase in use of 3D animation technology owing to complimentary upgrade in various other areas of the digital imaging industry is another trend supporting market.
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The global 3D animation market is propelled by the introduction of AR, VR, and AI and this likely to increase competition in the global market. Moreover, the growing interest for watching animated 3D movies among the global population is another factor likely to drive growth of the global 3D animation market in the coming years. The approval of 3D mapping technology is likely to grow owing to increasing demand for 3D mobile applications and games.