The overall 3D animation software market worldwide was valued at US$ 6.50 Bn in 2018 and is set to grow with a CAGR of 9.6% during the forecast period.
Market Insights
Rapid growth of 3D animation market worldwide to boost the demand for 3D animation software market globally. The 3D animation market is growing at nearly 8% growth rate annually in 2018 and valued around US$ 10.0 Bn in the same year. Animation of objects which appear in three-dimensional space and move & rotate like actual objects is known as 3D animation. 3D animation has various benefits such as motion communicates, visual appeal, and others, which differs 3D animation from 2D animation. Further, 3D animation has huge demand in media, animation, construction, gaming and other industries due to its aforementioned benefits. Rapid technological advancement for more efficient graphics is the other major growth factor driving the growth of the market. As a result of aforementioned factors, we expect that the 3D animation software market will show rapid growth throughout the forecast period.
Based on application, the 3D animation software market is led by entertainment & media industry segment in 2018. The entertainment & media industry segment accounts for over 30% of the revenue share in the same year. Global entertainment & media industry use 3D animation software to create special effects and to make animated movies. On the other hand, the gaming industry will be the fastest growing segment in 3D animation software industry. To make games more exciting and realistic the gaming manufacturers are widely using 3D animation software’s worldwide. Therefore, we expect that the gaming industry segment will be the fastest growing segment during the forecast period 2019-2027.
Based on the geography, North America was the largest region in 2018 for 3D animation software market. North America has value contribution of around 40% in the same year. North America has highest share owing to early adoption of technology and presence of multinational studios in the region includes Fox Studios, Cartoon Network, Walt Disney and others. Further, the aforementioned studios majorly use 3D animation software for making animated films. Government support & hefty investments for research & development are some other factors for dominance of North America in 3D animation software market. As a consequence, we expect that North America will lead the 3D animation software market throughout the forecast period.
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Gaming Industry will be the Fastest Growing Segment
The 3D animation software market by application is led by the entertainment & media industry in 2018 and in the same year the entertainment & media industry accounts for nearly 30% of revenue share. Entertainment & media industry has largest share due to wide use of 3D animation software’s for special effects and animated movies in the industry. Gaming industry will be the fastest growing segment owing to major gaming software vendors such as Nintendo, Ubisoft, Sega Games Co. Ltd. and others are developing 3D games. Therefore, we expect that the gaming industry will be the fastest growing segment throughout the forecast period.
North America will continue leading the Market
North America was the largest value contributor in the 3D animation software market in 2018. North America accounts for over 1/3rd of the market share in the same year. Wide use of 3D animation software for animated films and adoption of advanced technology are major growth factors for the region. In North America, the government is making hefty investments for adoption of advanced technologies. On account of these factors, we expect that the North America region will continue leading the 3D animation software market throughout the forecast period. On the other hand, Asia Pacific will also grow owing to popular cartoon series of Japan such as Power Stone, Pokemon, and Detective Conan among others.
Some of the prominent players operating in the 3D animation software market Adobe Systems Inc., Corel Corporation, Autodesk, Inc., Toon Boom Animation Inc., Maxon, Magix, NewTek, Inc., Smith Micro Software, Inc., Smith Micro Software, Inc., Corus Entertainment, NewTek, Inc., among others.
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