ALBANY, New York, Oct. 31, 2017 (GLOBE NEWSWIRE) -- The global 3D animation market is likely to exhibit rapid growth in the coming years due to the rapid growth in its usage in a wide range of end use industries. The 3D animation market has benefited from the steady development of 3D animation technology in recent years, which has enabled its use in a diverse range of industries and for diverse applications. The global 3D animation market is likely to rise at a strong growth rate in the coming years due to the growing prominence of the media and entertainment sector, which has become a vital end user for the 3D animation market, the construction and engineering sector, which has seen growing use of 3D animation for modeling in order to improve the characteristics of the final product, and manufacturing, which has been transformed by the adoption of digital modeling technology.
According to Transparency Market Research, the global 3D animation market is likely to rise to a valuation of US$13.6 bn by the end of 2017 and further rise to US$26.8 bn by the end of 2022. The global 3D animation market is likely to exhibit a robust 14.5% CAGR over the 2017-2022 forecast period.
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Here are the key insights into the growth prospects of the global 3D animation market:
Growth of the media and entertainment industry is crucial for the global 3D animation market. The media and entertainment sector has witnessed a rise in demand for 3D animation in several sectors, including 3D movie making and gaming. Rapid growth of the gaming sector, in particular, has been a feature of the global media and entertainment industry in recent years. The high level of detail required in today’s games has necessitated rapid advancement in 3D animation technology. Rising interest in gaming across the world has seen the gaming sector take on an economically prominent role in the media and entertainment industry in recent years and is likely to remain a crucial driver for the global 3D animation market in the coming years.
The dominance of GPU and video cards in the global 3D animation market is also conducive to steady dominance of the gaming sector as an end user in the global 3D animation market in the coming years. The importance of GPUs and video cards to gaming has ensured steady demand from the 3D animation market as well as a steady stream of investment for research and advancement, which is likely to remain a key driver for the global 3D animation market over the 2017-2022 forecast period.
Strong presence of tech, media, and entertainment industry giants has enabled rapid growth of the 3D animation market in North America. The region is likely to remain the dominant contributor to the global 3D animation market over the 2017-2022 forecast period due to growing demand for advanced video rendering technology from consumers in the highly developed region. The widespread adoption of 3D modeling and animation technology in the construction and engineering sector in North America has also enabled growth in the demand from the 3D animation market in the region.
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Global 3D Animation Market: Competitive Dynamics
Leading companies in the global 3D animation market include Autodesk Inc., Adobe Systems Inc., Nemetschek SE, NewTek Inc., NVIDIA Corp., Side Effects Software Inc., Smith Micro Software Inc., Intel Corp., BOXX Technologies Inc., and Advanced Micro Devices Inc.
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