WILMINGTON, DE, UNITED STATES, June 5, 2024 /EINPresswire.com/ -- 3D Animation Market by Component (Solutions and Services), Deployment Mode (On-Premises and Others), Technology (3D Modelling, Motion Graphics, 3D Rendering, Visual Effects, and Others), and Industry Vertical (Education, Media & Entertainment, Healthcare, Construction & Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032."

According to the report, the global 3D animation industry generated $19.5 billion in 2022, and is anticipated to generate $72.8 billion by 2032, witnessing a CAGR of 14.2% from 2022 to 2032.

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Surge in use of visual effects in movies and rise in demand for high-quality content by consumers drive the growth of the market. In addition, adoption of cloud-based animation propels the growth of the 3D animation market. However, the presence of free and open-source animation software and lack of capital investment, government support, and high privacy risk hamper the growth of the 3D animation market. Furthermore, integration of virtual reality (VR) technology for visual effects is expected to provide major opportunities for the growth of the 3D animation market during the forecast period.

Based on region, North America held the largest market share in 2022 accounting for more than one-third of share of the global 3D animation market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing demand and use of 3D animation technology in movies and the gaming industry to provide seamless and thrilling experiences to users and audiences. However, the Asia-Pacific region is expected to witness the fastest CAGR of 17.4% from 2022 to 2032, and is likely to dominate the market during the forecast period, owing to large volume of movies made in the region.

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The idea of characters, logos, images, and other movie elements morphing is becoming more popular. It is a switchover effect that is used to smoothly change one image or shape into another in movies and animations. It draws the audience's attention and persuades them to stay and watch the effect all the way through by acting as a visual magnet. Furthermore, high-speed internet has led to the widespread adoption of emerging technologies like augmented reality (AR) and virtual reality (VR), which have developed into crucial tools for producing excellent 3D animations. Moreover, due to the large workforce and low expenditure costs, India is gradually becoming an animation and visual effects hot spot, with the added benefit of English-speaking, talented software engineers and a vast pool of artistic talent, and thus all these factors will drive the market growth for the forecast period.

Leading Market Players: -

Adobe Systems Inc.

Autodesk Inc.

Newtek Inc.

Pixologic Inc.

The Foundry VisionMongers Ltd.

Maxon Computer

NVIDIA Corporation

SideFX Software

Zco Corporation

Corel Corporation

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