The Global 3D Animation Software Market was $17.8 Bn in 2020, and it is expected to reach $44.30 Bn by 2028. It is eventually growing at a commendable high compound annual growth rate CAGR of 12.1% between 2020-2028. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. 3D Animation Software Market is majorly driven by factors such as rising technological advancements, increasing demand for animation in the entertainment, media, and gaming industry. Moreover, the wide adoption of 3D animation for creating special effects in the entertainment sector is expected to trigger the demand for 3D Animation Software. Further, the emerging trend of virtual reality (VR) and artificial intelligence (AI), and growing demand for 3D mobile applications and games are some of the other prominent factors contributing towards the growth of the 3D Animation Software Market. Further, the growing utilization of animation software for educational and academic applications are also anticipated to accelerate the market growth of 3D Animation Software Market over the forecast period.
Global Visual Effects Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global 3D Animation Software Market has been segmented into By Service, By Technology, By Deployment, and By End-User. By Service, global 3D Animation Software Market is divided into Consulting, Support and Maintenance, Integration and Deployment, and Education and Training. By Technology, global 3D Animation Software Market is divided into 3D Modeling, Motion Graphics, 3D Rendering, Visual Effects. By Deployment, global 3D Animation Software Market is divided into On-Premise, and Cloud Based. By End-User, global 3D Animation Software Market is divided into Media and Entertainment, Healthcare and Life Sciences, Construction and Architecture, Manufacturing, Education and Research, and Others. Visual Effects Segment is estimated to witness remarkable growth over the forecast period due to the rising trend of using visual effects in advertisements to showcase the product, using animated logos to engage the audience and adoption of virtual reality (VR) in game development.
By Region, North America is Holding the Major Market Share
The global 3D Animation Software Market has been geographically segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa region. In addition to this, North America 3D Animation Software Market is holding the largest market share currently and is estimated to witness a steady compound annual growth rate in the upcoming forecast period due to rising adoption of motion graphics, and virtual reality (VR) in end-use industries. Moreover, the technological advancement of the region is also contributing towards the growth of the 3D Animation Software Market across the region. The European market follows North America and expected to witness a remarkable growth rate over the forecast period. The Asia Pacific region, however, is projected to register the fastest growth rate during the forecast period due to rising animation studios, growing 3D animation, and gaming industry in some of the Asian countries such as Japan, Singapore, China, and India. The LAMEA region is also anticipated to show robust growth due to the rising preference of special effects in movies and the increasing adoption of 3D gaming among the population. The above factors are expected to accelerate market growth over the forecast period from 2020 to 2028.
Major Players in 3D Animation Software Market
Some of the prominent players in the global 3D Animation Software Market include Adobe Systems Inc., Autodesk Inc., Autodessys Inc., Corel Corporation, Maxon Computer, Newtek Inc., Nvidia Corporation, Pixologic Inc., Sidefx Software, and Zco Corporation.
The Global 3D Animation Software Market Has Been Segmented Into:
Global 3D Animation Software Market: By Service
Global 3D Animation Software Market: By Technology
Global 3D Animation Software Market: By Deployment
Global 3D Animation Software Market: By End-User
Global 3D Animation Software Market: By Region