(MENAFN- Ameliorate Digital Consultancy) The 3D animation market is a significant component of the overall animation market; it is anticipated to increase from its estimated value of US$ 18,891.2 million in 2022 to US$ 21,123.9 million in 2023 and, with a CAGR of 11.9%, to US$ 65,067.3 million by 2033.
The process of creating the illusion that digital things are moving in a three-dimensional space is known as three-dimensional animation. Such computer-generated objects show on a 2-D computer screen but are created to mimic the concepts of a 3-D world so that they appear to move, turn, and rotate similarly to the real world
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| 3D Animation Market Size (2023) | US$ 21,123.9 Mn |
| Projected Market Value (2033) | US$ 65,067.3 Mn |
| Global Market Growth Rate (2023-2033) | 11.9% |
| Technology Category – 3D Modelling Segment Market Share (2022) | 29.8% |
| India Market Growth Rate (2022) | 13.2% |
| End User Category – Media and Entertainment Market Share (2022) | 45.5% |
The 3D animation market is a rapidly growing industry, driven by advances in technology and increasing demand for high-quality visual content in a variety of industries, including film, video games, and advertising. The market is expected to reach a value of over $33 billion by 2022, with a compound annual growth rate of around 8%.
Key players in the market include major studios such as Pixar and Dreamworks, as well as smaller independent studios and freelancers. The use of 3D animation is also growing in industries such as architecture, medicine, and engineering, providing new opportunities for the market to expand.
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How are Technological Advancements Creating New Growth Opportunities for 3D Animation?
There is continuous development and implementation of new technologies such as 3D modeling and visual effects (VFX) technology for entertainment and educational applications. In addition, adoption of the VFX technique at a faster pace is providing new professional opportunities for visual effect artists and animators.
New 3D animation standards promise superior convenience for users and enable higher performance standards, while supporting simplicity for designers and software providers.
Advantages such as promotes interactivity, catches audience attention, creates branding, attracts online traffic, and improves cost-effectiveness are primary factors resulting in increasing number of 3D animation solutions being used on a global scale.
Integration of technologies such as 3D rendering, IoT, artificial intelligence, motion graphics, and others can be estimated to lead to development of 3D animation solution functionalities, with their improved performance.
Competitive Landscape
3D animation services are essential for media and entertainment as well as various industries, the companies involved in production and manufacturing of products, usually employ animators in mass amounts, whereas the studios that work on creative projects, may not employ in the same numbers. Often the studios work together to deliver on a requirement produced to them by a production house.
In January 2023, BigTank a video production company based in Lancashire, England, announced the launch of its new 3D animation department. The move is based upon the companies understanding that the internet traffic is today heavily consuming video content, in order to capitalize further on this trend, the company will provide 3D animation projects and services since animation has the potential to engage consumers. In December 2022, OpenAI, the same company known for ChatGPT launched Point-E, an AI solution that develops 3D models. The solution uses machine learning for creating models in a text-to-model way or image-to-3D model way.
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Key Players:
Autodesk Inc. Corel Corporation The DVI Group Indigo Productions Studio B Films Grumo Media Yans Media Spin Creative
Key Segments of 3D Animation Market Industry Research
By Component:
Hardware Software Services
By Technology:
3D Modelling Motion Graphics 3D Rendering Visual Effects
By End User:
Media and Entertainment Education Healthcare Architecture
By Region:
North America Latin America Europe East Asia South Asia Pacific Middle East and Africa
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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