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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.
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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.
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