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Global 3D Animation Market to Reach USD 32.69 Billion by 2026, Aided by the Robust Growth of the Gaming Industry

According to a new report by EMR titled, ‘Global 3D Animation Market Report and Forecast 2021-2026’, the global market for 3D animation attained a value of about USD 16.3 billion in 2020. The industry is further expected to grow at a CAGR of 12.3% in the forecast period of 2021-2026 to reach approximately USD 32.69 billion by 2026.

The market growth of 3D animation can be attributed to the rising deployment of 3D animation in the gaming industry. As the popularity of gaming devices is significantly growing, the demand for high-quality graphics is surging, which is consequently propelling the growth of the 3D animation industry. Moreover, the introduction of characters in a game with a storyline is increasing the demand for narration-based animations in gaming, which is significantly contributing to the market growth. In addition, the growing trend of e-sports and fantasy sports, requiring high-quality graphics, is fuelling the industry growth. Hence, the expansion of the gaming industry in emerging economies is projected to propel the market growth in the forecast period.

Adobe Inc. (NASDAQ: ADBE), one of the leading companies in the market, released Adobe Substance 3D, its new collection of interoperable 3D tools and services in June 2021. The collection is designed to streamline and support the 3D design process. It provides a cutting-edge technology that 3D artists require while making the medium accessible for everyone. The collection utilised artificial intelligence (AI) to eliminate the technical complexity of 3D design and features while including various models, lighting systems, and textures that can be deployed to initiate 3D animation. The release marks the growing demand for sustainable and cost-effective 3D animation in a plethora of applications, ranging from speeding up the design process to the digitisation of products catalogues. Such developments and innovations by key players are expected to propel the market growth over the forecast period.

Market Analysis by Technique, Component, Deployment, End Use, and Region:

  • The market, on the basis of technique, can be divided into 3D modelling, motion graphics, 3D rendering, and visual effects.
  • Based on component, the industry can be divided into hardware, software, and service.
  • By deployment, the market is categorised into on-premise and cloud.
  • The end uses of 3D animation include media and entertainment, architecture and construction, education and academics, manufacturing, healthcare and life sciences, and government and defence, among others.
  • The regional markets for 3D animation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing demand for 3D animation in the education sector to enable the usage of visual representation for enhanced learning is propelling the market growth.
  • The market is being driven by the growing demand for 3D animation due to the rising popularity of various e-learning platforms, such as Udemy, edX, and Coursera, among others.
  • The rising demand for live-action footage is increasing the demand for 3D animation to make the graphic more colourful, bolder, and livelier, hence augmenting the market growth.
  • Increasing investments in illustrations and animation by various companies to enable its utilisation in marketing is fuelling the growth of the 3D animation industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for 3D animation for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the techniques, components, deployments, end uses, and major regions of 3D animation.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 3D animation market are Adobe Inc., Autodesk, Inc., Zco Corporation, NVIDIA Corporation, and NewTek Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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