The global 3D animation market size is anticipated to reach USD 28.30 billion by 2025 expanding at a CAGR of 11.0%, according to a new report by Grand View Research, Inc. Wide usage of the technology in the manufacturing, healthcare & life sciences, media & entertainment, and education & academics industries is anticipated to be the key factor driving the market over the forecast period. The technology can offer several benefits. For instance, three-dimensional animated videos can help students studying medicine in understanding the complexities associated with the human anatomy effectively as compared to the conventional 2D illustrations and photographs.
Similarly, the technology can also be used in schools and colleges to effectively explain various scientific concepts to the students. In the manufacturing sector, machining shops can develop 3D models of parts and components before their production, which can also aid in 3D printing. Growing use of the technology in educational and academic applications is expected to impel the market growth. Several developers of educational apps and e-learning platforms have started incorporating 3D animated videos in their educational curriculum. Similarly, Scientific Animations Without Borders (SAWBO) is creating scientifically-accurate three-dimensional animations for educational purposes.
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Further key findings from the study suggest:
- The visual effects segment is anticipated to expand at the highest CAGR of 12.9% from 2019 to 2025 and 3D modeling is expected to emerge as the largest segment over the forecast period
- The media & entertainment end-use segment is likely to register the largest market revenue share of 34% by 2025
- Software is projected to be the largest as well as fastest-growing component segment over the forecast period
- North America led the overall market in 2018 and is projected to maintain its dominance during the estimated period
- However, the market in Asia Pacific region is said to expand at the highest CAGR of 11.9% from 2019 to 2025
- Some of the key companies in the global 3D animation market include NVIDIA Corp.; Autodesk, Inc.; Adobe Systems Inc.; Corel Corp.; NewTek, Inc.; and Zco Corp.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.