Global 3D Animation Market 2024

Global 3D Animation Market 2024

The 3D animation market refers to the creation of animated objects that exist in a three-dimensional space, allowing them to be rotated and moved like real objects. This industry is experiencing significant growth due to the widespread adoption of 3D animation technologies in various applications, including manufacturing, architecture, and construction, for enhanced visual effects. Additionally, governments have implemented initiatives to support the animation industry through incentives, subsidies, and tax reliefs, which are expected to further drive industry growth.

The 3D modeling technology market is estimated to be valued at USD 5.9 billion in 2023 and is projected to reach USD 11.3 billion by 2029, with a compound annual growth rate (CAGR) of 9.6% during the forecast period. The visual effects segment is expected to grow at the highest CAGR from 2024 to 2029. Emerging trends, such as the use of visual effects in commercials to showcase products, the incorporation of animated logos to engage audiences, and the adoption of virtual reality in game development, will contribute to the growth of the visual effects segment.

The market is being driven by rapid advancements in 3D animation technology, a focus on producing high-definition videos in the digital entertainment industry, and the continued use of three-dimensional animated videos in the manufacturing sector to visually illustrate the workings of heavy machinery components. Other factors contributing to market growth include the increasing implementation of visual effects and virtual reality technology in filmmaking, the growing demand for 3D mobile apps, and the rising use of 3D mapping technology for GPS and navigation purposes. Developing economies present significant growth potential due to government incentives, subsidies, and tax rebates aimed at fostering technology sector development.

The software segment is estimated to reach USD 11.1 billion in 2023 and is projected to reach USD 22.9 billion by 2029, with a CAGR of 10.9% during the forecast period. This segment encompasses software development kits (SDKs), plug-ins, and packaged software solutions. Animation software is widely used for creating motion graphics and special effects in feature films, video games, animated gifs, and other media involving moving images. The hardware segment held a considerable market share in 2023 and is expected to grow significantly over the forecast period. It includes GPUs and video cards, workstations, and motion capture systems. The services segment covers consulting, education and training, integration and development, and support and maintenance. This segment is anticipated to witness rapid growth due to the increasing adoption of 3D animation for educational and training purposes, among other applications.

North America dominated the market in 2023 and is expected to maintain its dominance throughout the forecast period. The North America 3D animation market is estimated to be valued at USD 7.3 billion in 2023 and is projected to reach USD 13.7 billion by 2029, with a CAGR of 9.5% during the forecast period. The United States accounted for the largest revenue share due to the growing adoption of motion graphics and virtual reality across various industries. The Asia Pacific region is expected to witness the highest CAGR over the forecast period as advertisers seek to engage the growing young population in Asia Pacific through 3D animated and virtual reality-based advertisements. The availability of cost-effective labor, skilled resources, and favorable government regulations in countries such as India, China, Australia, Japan, and the Philippines make Asia Pacific a preferred destination for outsourcing 3D animation services. India, Japan, and Australia are expected to contribute significantly to the overall revenues generated in Asia Pacific, while cities in China, such as Shanghai, Beijing, and Guangzhou, are expected to emerge as gaming hubs, thereby driving regional market growth.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the technology, component, deployment, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

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The global market for 3D animation can be segmented by technology: 3D modeling, motion graphics, 3D rendering, visual effects. 3D modeling held the highest share in the global 3d animation market. However, the visual effects segment is forecast to register the highest CAGR during the forecast period 2024 - 2030.

3D animation market is further segmented by component: hardware, software, services. Software held the largest share in the global 3d animation market, accounting for 58.7% of the market in 2023. Moreover, the segment is anticipated to grow at the highest CAGR in the coming years.

Based on deployment, the 3D animation market is segmented into: on-premise, on-demand.

On the basis of end user, the 3D animation market also can be divided into: entertainment, construction, education, manufacturing, healthcare, government, others.

3D animation market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the highest share in the global 3d animation market. However, Asia-Pacific is forecast to register the highest CAGR during the forecast period 2024 - 2030.

The market research report covers the analysis of key stake holders of the global 3D animation market. Some of the leading players profiled in the report include Adobe Inc., NVIDIA Corporation, Autodesk Inc., The Foundry Visionmongers Ltd., Maxon Computer GmbH, Cascade Parent Limited, NewTek, Inc., Pixologic, Inc., SideFX, Zco Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global 3D Animation Industry Analysis:

i.) Technology

• 3D modeling
• Motion graphics
• 3D rendering
• Visual effects

ii.) Component

• Hardware
• Software
• Services

iii.) Deployment

• On-premise
• On-demand

iv.) End user

• Entertainment
• Construction
• Education
• Manufacturing
• Healthcare
• Government
• Others

v.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America