3D Animation Market

The 3D animation technique creates three-dimensional moving images in a digital environment. With the introduction of AR and VR technologies, 3D animation has witnessed several advancements over recent years. The inclination towards 3D animation is continuously growing across various industry verticals owing to its ability to represent the movement of the object in a realistic way and in high quality as compared to 2D animation which engages people visually. The 3D animation technology has a wide application scope across the media and entertainment industry. Growing adoption of visual effects technology in movies, advertisements, and gaming is one of the factors contributing to the growth of the global market. 3D animation is also expected to play an important role in the healthcare industry in the coming years owing to the benefits offered in the areas of patient communication, education, and marketing to explain complex healthcare-related topics. The market is quite competitive with key players as well as emerging 3D animation service providers trying to offer advanced animation technologies such as visual effects, rendering and modeling to the end users through platforms and plug-in options.

Major key players in the market, such as Adobe, Autodesk, and Coral are continually developing their animation platforms and services to attract global customers. The 3D animation industry is expected to attain a rapid growth with the increasing trend of digital marketing and growing demand for 3D mobile applications. The use of 3D mapping technology for GPS and Navigation purposes is expected to create market growth opportunities in the coming years.

The global 3D animation market generated a revenue of USD 12.89 billion in 2018 and is expected to reach a market value of USD 27.08 billion by 2024, registering a 13.88% CAGR. North America accounts for 42% market share in the 3D animation market due to the presence of major 3D animation software and service providers across the region. The increasing adoption of 3D animation technology across the media & entertainment industry, which includes games, movies, and advertisement designers and developers, is expected to drive the 3D animation market throughout the forecast period.

The 3D animation market in Asia-Pacific acquired a 33% market share in terms of revenue generation as Japan, South Korea, Malaysia, India, China, and the Philippines are experiencing significant demand and adoption of 3D animation technology. Further, increasing digitalization, growing demand for 3D mobile applications, and increasing outsourcing of animation solution and services by animation market players in the region are driving the growth of the 3D animation market in the region.

The European 3D animation market acquired around 17% market share globally in 2018. Europe is witnessing increasing adoption rate of 3D animation trend across architecture and education industry verticals. Among the European countries, currently, UK is dominating the market with a market share of 31%, followed by Germany with a 27% market share. France is projected to exhibit the fastest CAGR of 13.5% during the forecast period in the 3D animation market due to the growing number of animation schools across the region and increasing adoption of 3D animation technologies such as VFX and rendering in the media and entertainment industry. Further, the growing adoption of 3D animation in countries such as Russia, Italy, Spain, and the Netherlands is also expected to boost the market growth in Europe.

The 3D animation market in the rest of the world acquired around 8% market share globally in 2018. The region is witnessing high adoption of 3D animation software and services among countries such as Brazil, Argentina, the UAE, Chile, and South Africa. Moreover, the high adoption of smartphones and significant investments by key market players to offer innovations in gaming and TV shows are contributing to the growth of the market in this region.