3D Avatar Solution Market Size & Share | Statistics Report 2028

According to the new research report published by The Insight Partners on "3D Avatar Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Model (Stylized, Realistic, and Futuristic), and End User (Media and Entertainment, Healthcare, Fashion, and Others)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The 3D avatar solution market size is expected to grow from US$ 106.43 million in 2022 to US$ 544.87 million by 2028; it is estimated to grow at a CAGR of 31.3% from 2022 to 2028.

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A 3D avatar is a virtual representation of humans that is developed to help improve business applications such as sizing & fitting, game development, and healthcare research. The rising adoption of digitalization and advanced technologies across industries such as fashion, gaming, media & entertainment, and healthcare is propelling the demand for 3D avatars. 3D avatar solutions help create an efficient and realistic human model, thereby driving the 3D avatar solution market growth.

The rising adoption of social media among the global population, along with the rise in internet and smartphone penetration in urban areas, is also boosting the adoption of realistic and futuristic 3D avatars that offer a personalized experience to users. Businesses are also adopting 3D avatar models for applications in the customer support domain to provide efficient customer services. For instance, in December 2021, Capita launched its 3D avatar web chat services to offer more realistic customer service. The company partnered with Rapport for the development of a 3D avatar to replace their bot-based customer service. These factors are also propelling the global 3D avatar solution market growth over the coming years.

The social media platforms using avatars are gaining momentum which is one of the factors contributing towards the 3D avatar solution market growth. With the rapid adoption of smartphones and high internet penetration, the gaming industry has experienced significant growth across the globe over the last decade. According to data published by the World Bank, more than 40% of the global population is engaged in playing various video games. The rising number of people involved in playing video games is influencing game developers to invest in advanced technologies such as AR, VR, metaverse, NFTs, and blockchain for developing interactive games. Many game-developing companies are adopting these technologies to offer players a realistic and futuristic gaming experience. For instance, 2022 experienced the launch of games such as No Man's Sky, God of War, and Horizon Forbidden West.

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The adoption of e-commerce continues to increase across APAC. Countries such as South Korea, China, Australia, and India record high e-commerce spending per capita annually. This has influenced e-commerce companies to adopt advanced technologies to offer customers a realistic experience through e-commerce websites by enhancing their shopping experience. For instance, in October 2022, Flipkart collaborated with eDAO, a Polygon incubated organization, and announced its plan to launch a virtual shopping platform in the metaverse. This will enable the shoppers to have an interactive virtual trial of products, offering them a realistic experience in online shopping. These factors are further increasing the demand for 3D avatars in the APAC fashion industry, thereby contributing to the growth of the 3D avatar solution market.

The APAC population has been increasing the adoption of telemedicine over the years owing to improved efficiency; reduced time spent on traveling, hospitals, or clinical queues; and easy accessibility of healthcare services. This has influenced the rise in the adoption of advanced technologies in the medical industry of the region, enabling healthcare professionals to offer efficient digital consulting services to patients. 3D avatar helps create 3D models of patients and a clear medical image of their diagnosis. Thus, the adoption of 3D avatars in digital consultation helps doctors properly diagnose medical conditions. These factors are further expected to increase the demand for 3D avatar solutions across the region, thereby contributing to the 3D avatar solution market growth over the forecast period.

The List of Companies - 3D Avatar Solutions Market

MotionWerx LLC; Texel Inc LLC; Osensus GmbH; Bodygee AG; Polyga Inc; IN3D Inc; TG3D Studio Inc; Itseez3D Inc; 3D Generation GmbH; and NeXR Technologies SE are some of the key 3D avatar solution market players profiled in the market study.

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