3D Animation Market to reach USD 33.78 Billion by 2026- Top Impacting Factors That Can Win the Industry Globally
The advancement of 3D stereoscopic gaming with the help of 3D animation technology is a driving force of this industry as well.
PORTLAND, PORTLAND, OR, UNITED STATE, September 19, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “3D Animation Market to reach USD 33.78 Billion by 2026- Top Impacting Factors That Can Win the Industry Globally .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global 3D animation market size generated $14.08 billion in 2018, and is estimated to reach $33.78 billion by 2026, registering a CAGR of 11.6% from 2019 to 2026.
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The report offers key drivers that propel the growth in the global 3D animation market . These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Increase in use of visual effects in movies, surge in demand for high quality content by consumers, and rise in adoption of cloud for animation drive the growth of the global 3D animation market. However, presence of free & open-source animation software hinders the market growth. On the other hand, integration of virtual reality (VR) technology for visual effects creates new opportunities in the coming years.
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Based on component, the solution segment contributed to the largest share in 2018, accounting for more than two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is expected to register the highest CAGR of 12.4% from 2019 to 2026.
Based on deployment mode, the on-premise segment accounted for the largest share in 2018, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the cloud segment is estimated to portray the highest CAGR of 12.6% during the forecast period.
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Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 14.1% from 2019 to 2026.
Leading market players analyzed in the research include Pixologic Inc, NVIDIA Corporation, Sidefx Software, The Foundry VisionMongers Ltd, Corel Corporation, Zco Corporation, Maxon Computer, Adobe Systems Incorporated, Autodesk Inc, and Newtek Inc.
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Covid-19 Scenario:
• The operations for organizations offering the 3D animation services and products have not been affected much during the coronavirus pandemic as employees can work from home.
• On the other hand, the demand for 3D animation from the media & entertainment and construction & manufacturing industries has been reduced during the coronavirus outbreak.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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