3D Animation Market: High Demand For 3D Mobile Games In Applications To Drive Market
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According to TMR, the global 3D animation market will witness a double-digit expansion of 14.5% CAGR between 2017 and 2022. The market is anticipated to rise from US$13.6 in 2017 to US$26.8 bn by 2022. On the basis of hardware, the global 3D animation market is anticipated to be led by the video cards and GPU segment. The video card and GPU segment accounted for 35.7% of the market in 2017 and was worth US$4.8 bn in the same year. The segment is expected to be worth US$9.7 bn by 2022 and account for 36.4% of the global 3D animation market. On the basis of end use, the media and entertainment sector is predicted to dominate during the forecast period on account of the diverse application of 3D animation in the field of entertainment. The engineering, manufacturing, and construction sectors will also contribute significantly to the revenue of the global 3D animation market.
North America Leading in 3D Animation Market
On the basis of geography, North America accounted for more than one-third of the global market for 3D animation in 2017. The North American 3D animation market was worth US$4.6 bn in 2017 and will reach close to US$10.4 bn by 2020, says TMR. Between the period 2017 and 2022 North America is anticipated to witness an expansion of 17.4% CAGR thereby ensuring that this region will remain the leading contributor to the global 3D animation market.
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Increasing Adoption of 3D Visual Effects and Animations in Media and Entertainment Sector behind Growth
Key factors boosting the growth of the global 3D animation market is the increasing adoption of 3D visual effects and animation by the entertainment and media industry. Increasing competitiveness on account of the emergence of augmented reality, virtual reality, and artificial intelligence has given a boost to this market. The increasing interest of views for animated movies is boosting the growth of the market. The demand for 3D games and mobile applications is also increasing which will in turn fuel the uptake of 3D mapping technology. The increasing uptake of 3D mapping technology in geo spatial analysis as well as in navigation will accelerate the growth of the global 3D animation market.
The study presented here is based on a report by Transparency Market Research titled “3D Animation Market (Hardware - Video Cards and GPU, Motion Capturing Systems, Workstation; Deployment - On-Premises, Cloud; End Use - Media and Entertainment, Construction and Engineering, Architecture, Manufacturing, Healthcare, Education; Software - Plug-in, Software Platforms, SDK) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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