HOME / PRESS RELEASE / 3D ANIMATION SOFTWARE MARKET TO GROW AT 9.6% CAGR DURING THE FORECAST PERIOD 3D Animation Software Market to Grow at 9.6% CAGR During the Forecast Period

According to a new market research report published by Credence Research “3D Animation Software Market (Product Type – Standard Version and Professional Version), (Application- Construction Industry, Animation Industry, Entertainment & Media Industry, Gaming Industry, Marketing & Advertising Industry and Others (Healthcare, Textile, etc.)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, 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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