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3D Animation Market - The Rising Use of Digital Imaging and Modeling Technologies
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TMR envisages the global 3D animation market to be worth a US$26.8 bn by the end of 2022 while rising at a 14.5% CAGR during the forecast tenure 2017-2022. In 2017, the market was valued at a US$13.6 bn. By hardware, it could be led by video cards and graphics processing unit (GPU), which accounted for a 35.7% share in 2017. Regionally, North America is anticipated to collect a lion’s share while expanding at a CAGR of 17.4%.
The entertainment and media industry has been raising high demand for 3D animation with increased adoption in the recent years. Besides improved adoption of 3D animation and visual effects, the industry has been pushing the global market based on other important factors. The world 3D animation market could be boosted by the advent of AI, VR, and AR and increasing competitiveness as a result of it. Furthermore, rising interest in watching animated movies is predicted to set the tone for valuable growth of the market.
Uptake of 3D mapping technology could surge because of high demand for 3D mobile applications and games. Growth of the world 3D animation market is foreseen to see a rise owing to swelling adoption of the technology in geospatial navigation and analysis.
The international 3D animation market has seen rapid adoption in different end-use industries such as education, healthcare, and manufacturing. However, vendors are foretold to face certain challenges in their operation. These include price sensitivity, low proficiency level, and constant exposure to piracy and corruption.
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Nonetheless, there could be lucrative prospects birthing in the international 3D animation market due to new product launches and recent developments in the industry. This could be evidenced by the emergence of 3D-Coat, SideFX, Pixologic, and other highly innovative offerings. Some of the other powerful growth propellants of the market could be tax reliefs, subsidiaries, incentives, and other government initiatives. Moreover, expansion of the gaming industry owing to increased interest of teenagers in gaming is projected to create ample of opportunities in the market.
The information presented in this review is based on a TMR report, titled “3D Animation Market (Hardware - Video Card and GPU, Motion Capturing System, and Workstation; Deployment - On-premises and Cloud; Industry - Media and Entertainment, Construction and Engineering, Architecture, Manufacturing, Healthcare, and Education; Software - Plug-in, Software Platform, and SDK) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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