According to a new report titled Global 3D Animation Market (2016-2022), published by KBV Research, the global 3D animation market is expected to attain a market size of $20.7 billion by 2022, growing at a CAGR (compound annual growth rate) of 12 per cent during the forecast period. Rapid adoption of visual effects technology in movies, growing demand for 3D mobile applications and games, and rapid uptake of 3D mapping technology in navigation and geospatial analysis are some of the significant factors that drive the growth of 3D animation technology, globally.
Regionally, the North America market dominated the global 3D animation market and would continue to be a dominant region all through the forecast period. Within that region, the US 3D animation market is expected to reach $5,758.6 million by 2022, growing at a CAGR of 9.9 per cent from 2016 to 2022. Strong economy, with leading market players investing heavily into R&D activities are the major factors driving the American market, making it the dominant market all through the forecast period. Nevertheless, the Asia pacific would be the fastest growing region, with the highest CAGR during the forecast period. Countries such as Japan, China, Singapore, Australia, and India have unprecedented market potential, due to various R&D activities initiated in these countries in order to support the animation studios.
The 3D modelling market dominated the Australia 3D animation market by technology in 2015, and would continue to be till 2022; thereby, achieving a market value of $136.1 million by 2022. Additionally, the VFX market is expected to register a CAGR of 17.5 per cent during the period (2016 – 2022). Visual effects using computer generated imagery has become one of the major advantages. Moreover, introduction of user friendly and less expensive software has helped independent filmmakers to explore different kinds of virtual effects software, which was otherwise a challenge.
Based on deployment type, the On-Premise market dominated the global 3D animation market in 2015, and would hold its dominating position throughout the forecast period. The Cloud market is expected to register a CAGR of 15.7 per cent during the forecast period (2016 – 2022).
Within the verticals, the media & entertainment market dominated the global 3D animation market, with a market share of more than 34 per cent in 2015. Manufacturing segment would witness maximum growth rate during the forecast period (2016 – 2022).
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