The global 3D animation market
is prognosticated in a report by Transparency Market Research (TMR) to
witness a massive influx of new players attracted to remunerative
opportunities available. With a view to enjoy the advantage of skilled
and cost-effective labor and take the edge off challenges related to
in-house research and development, a significant count of players are
expected to involve themselves in mergers and acquisitions. For
instance, Solid Angle S.L. was acquired by Autodesk in April 2016. The
market marks the presence of top players such as Adobe Systems Inc.,
Nemetschek SE, and Autodesk Inc.
TMR envisages the global 3D animation
market to be worth a US$26.8 bn by the end of 2022 while rising at a
14.5% CAGR during the forecast tenure 2017-2022. In 2017, the market was
valued at a US$13.6 bn. By hardware, it could be led by video cards and
graphics processing unit (GPU), which accounted for a 35.7% share in
2017. Regionally, North America is anticipated to collect a lion’s share
while expanding at a CAGR of 17.4%.
Emergence of AI, VR, and AR Increases Competition, Encouraging Growth
The entertainment and media industry has
been raising high demand for 3D animation with increased adoption in
the recent years. Besides improved adoption of 3D animation and visual
effects, the industry has been pushing the global market based on other
important factors. The world 3D animation market could be boosted by the
advent of AI, VR, and AR and increasing competitiveness as a result of
it. Furthermore, rising interest in watching animated movies is
predicted to set the tone for valuable growth of the market.
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Uptake of 3D mapping technology could
surge because of high demand for 3D mobile applications and games.
Growth of the world 3D animation market is foreseen to see a rise owing
to swelling adoption of the technology in geospatial navigation and
analysis.
Piracy and Corruption Cause Demand for 3D Animation to See Downfall
The international 3D animation market
has seen rapid adoption in different end-use industries such as
education, healthcare, and manufacturing. However, vendors are foretold
to face certain challenges in their operation. These include price
sensitivity, low proficiency level, and constant exposure to piracy and
corruption.
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