3D Animation Software Market Growth: Global Industry Size, Share, Emerging Trends, Top Players, Demand

According to our latest market study on "3D Animation Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Deployment, and Application," the 3D animation software market size is projected to reach US$ 39,395.09 million by 2028 from US$ 18,255.51 million in 2021; it is expected to grow at a CAGR of 11.6% from 2021 to 2028.

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Virtual reality technology is evolving in various ways. The use of this technology in the production and design of 3D animation may significantly increase the interactivity of 3D animation. The progress of virtual reality technologies is attributed to advancements in computer technology and societal requirements. On the other hand, increased interest in watching animated movies in virtual reality is expected to contribute to the expansion of the 3D animation software market.

Furthermore, huge investments are being made in this technology to extend its applications in gaming, advertising, and home entertainment segments. Both visual effects and virtual reality are primarily concerned with developing a new environment that may astonish spectators. Studios are increasingly adopting tools for virtual production, using real-time graphics, motion capture, real-time facial capture, and camera tracking techniques. Virtual reality is becoming increasingly important to most visual effects firms. For instance, Framestore Studios collaborated with HBO to launch "Ascend the Wall," a virtual reality project based on the TV show "Game of Thrones." As virtual reality technology advances, more user-friendly interfaces are likely to be launched in the future. VR and other extended reality (XR) technologies are likely to lead to significant advancements in animation during the next several years. Thus, the emergence of virtual reality technology opens up significant prospects in the 3D animation software market growth during the forecast period.

The Key Players in The Global Market Are:

Adobe
Autodesk Inc.
Corel Corporation
EIAS3D
Maxon Corporation GmbH
SideFX
NewTek Inc.
MAGIX
Strata
Bondware Inc.
The 3D animation software market is segmented on the basis of technology, deployment, application, and geography. market analysis by technology, the market is segmented into 3D modeling, motion graphics, 3D rendering, visual effects (VFX), and others. The 3D modeling segment accounted for the largest 3D animation software market share in 2020. 3D animation software market analysis by deployment, the market is bifurcated into cloud-based and on-premises. In 2020, cloud-based segment led the market.

The report segments the global Market as follows:

By Technology (3D Modelling, Motion Graphics, 3D Rendering, Visual Effects (VFX), and others],
By Deployment (Cloud-Based and On-Premises),
By Application (Media & Entertainment, Healthcare & Lifesciences, Manufacturing, Education & Research, and Others)
Impact of COVID-19 Pandemic on 3D Animation Software Market

The outbreak of COVID-19 dramatically impacted the global economy during its peak in 2020, and the crisis posed various challenges for businesses, which primarily resulted in the development of remote work environments. The healthcare, education, media & entertainment, and corporates sectors suffered discontinuation in their operations amid the rising number of COVID-19 cases. However, the emergence of the COVID-19 pandemic impacted the software industry positively, and this positive trend is anticipated to sustain in the coming years. The increased adoption of 3D modeling technologies for printing, computer-aided-design (CAD), medical imaging, marketing, video game designing, and other tasks fueled the 3D animation software market growth.

The imposition of lockdown to mitigate the pandemic crisis compelled people to stay at home and witnessed an upward trend in remote work and app-based entertainment services, thereby driving the growth of the media & entertainment sector. Simulation technologies allowed the broadcasting & media industry to offer advanced imaginative experiences during learning, shopping, and working. Thus, with a high demand for visualization, mobile applications, gaming, and digital marketing, the 3D animation software market has witnessed a surge in demand.

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This release was published on openPR.