Global 3D Animation Market

Global 3D Animation Market Size, Share, Growth Analysis, By Technique(Motion graphics, visual effects), By Component(Services, hardware), By Deployment(On-premise and on-demand), By End-user(Manufacturing, healthcare & life sciences) - Industry Forecast 2024-2031

Report ID: SQMIG45A2138 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 120 | Figures: 77

Global 3D Animation Market News

  • In January 2023, the BMW welt, a car museum in Munich, Germany, put into place a new technology that would now enable its visitors to see their own animated faces in 3D on a massive LED screen. This approach makes use of artificial intelligence, and the animation accurately depicts the person's genuine face.
  • In January 2023, the first Sri Lankan 3D animated film, "Gajaman," will be released. Motion capture technology is used in the movie, which is a significant advancement for the Sri Lankan film industry.
  • In January 2023, BigTank, a video production firm situated in Lancashire, England, announced the debut of its new 3D animation department. The decision was made because the company realized that a large portion of today's internet traffic was watching videos. To profit even more from this trend, the company would provide 3D animation projects and services because animation has the potential to interest viewers.
  • In December 2022, OpenAl, the same firm behind ChatGPT, announced Point-E, an Al solution for developing 3D models. The approach employs machine learning to turn images or text into 3D models or vice versa.
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3D Animation Market size was valued at USD 17.21 billion in 2019 and is poised to grow from USD 19.32 billion in 2023 to USD 46.89 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

The global 3D Animation Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Autodesk Inc.', ' Adobe Systems ', ' SideFX ', ' MAXON ', ' Blender Foundation ', ' Pixar Animation Studios ', ' DreamWorks Animation ', ' Blue Sky Studios ', ' Industrial Light & Magic ', ' Weta Digital ', ' Framestore ', ' The Third Floor ', ' Animal Logic ', ' Digital Domain ', ' Illumination Entertainment ', ' Reel FX ', ' Laika ', ' Aardman Animations ', ' Studio Ghibli ', ' Toei Animation '

The entertainment industry has quickly adopted the use of VFX or visual effects to create visual enhancements using animation and computer graphics. As a means of representing something that cannot be accomplished in a real-life context and must be simulated by a virtual environment or animation software, VFX is one of the most frequently used terms among animators, game developers, and filmmakers. 3D animation requires software or tools to produce the desired results. The use of camera mapping techniques to create the required visual effects is known as "VFX", a broad term. Here, however, photos are captured and edited using this software and equipment. Additionally, the use of VFX techniques is expanding rapidly, creating new job opportunities for animators and visual effects artists. The adoption of 3D animation techniques in the entertainment sector is primarily driving the growth of the market.

Software for 3D animation is being used more frequently now. Animations and visuals in three dimensions are produced using this software. In movies, video games, and other types of entertainment, it is frequently used.

In 2021, North America accounted for the highest revenue share of the global market. Despite the huge popularity of 3D animation in the form of anime in the country of Japan, the development of animation technology is much stronger than in North America. A select group of key clients such as Fox Studios, Disney, and Nickelodeon are present in the United States, as well as the widespread use of this technology and increased R&D spending by regional industry leaders. Both the establishment of major animation studios in the West and the expansion of 3D animated game production represent tremendous growth for the North America region. Additionally, the use of 3D animation in the healthcare sector to help medical students and professionals acquire medical training is driving the market growth.

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