3D Animation Software Market is expected to reach US$ 39,395.09 million by 2028

Integration of Virtual Reality Technology to Provide Growth Opportunities for 3D Animation Software Market during 2021–2028

According to our latest market study on “3D Animation Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Deployment, and Application,” the 3D animation software market size is projected to reach US$ 39,395.09 million by 2028 from US$ 18,255.51 million in 2021; it is expected to grow at a CAGR of 11.6% from 2021 to 2028.

Virtual reality technology is evolving in various ways. The use of this technology in the production and design of 3D animation may significantly increase the interactivity of 3D animation. The progress of virtual reality technologies is attributed to advancements in computer technology and societal requirements. On the other hand, increased interest in watching animated movies in virtual reality is expected to contribute to the expansion of the 3D animation software market. Furthermore, huge investments are being made in this technology to extend its applications in gaming, advertising, and home entertainment segments. Both visual effects and virtual reality are primarily concerned with developing a new environment that may astonish spectators. Studios are increasingly adopting tools for virtual production, using real-time graphics, motion capture, real-time facial capture, and camera tracking techniques. Virtual reality is becoming increasingly important to most visual effects firms. For instance, Framestore Studios collaborated with HBO to launch "Ascend the Wall," a virtual reality project based on the TV show "Game of Thrones." As virtual reality technology advances, more user-friendly interfaces are likely to be launched in the future. VR and other extended reality (XR) technologies are likely to lead to significant advancements in animation during the next several years. Thus, the emergence of virtual reality technology opens up significant prospects in the 3D animation software market growth during the forecast period.

The 3D animation software market is segmented on the basis of technology, deployment, application, and geography. market analysis by technology, the market is segmented into 3D modeling, motion graphics, 3D rendering, visual effects (VFX), and others. The 3D modeling segment accounted for the largest 3D animation software market share in 2020.  3D animation software market analysis by deployment, the market is bifurcated into cloud-based and on-premises. In 2020, cloud-based segment led the market. Based on application, the market is segmented into media & entertainment, healthcare & life sciences, manufacturing, education & research, and others. The media & entertainment segment accounted for the largest share of the market in 2020. Based on geography, the market is segmented into five key regions, namely North America, Europe, APAC, MEA, and SAM. North America held the largest revenue share in 2020, followed by Europe and APAC, respectively. APAC is projected to register the highest CAGR in market from 2021 to 2028.

Impact of COVID-19 Pandemic on 3D Animation Software Market

The outbreak of COVID-19 dramatically impacted the global economy during its peak in 2020, and the crisis posed various challenges for businesses, which primarily resulted in the development of remote work environments. The healthcare, education, media & entertainment, and corporates sectors suffered discontinuation in their operations amid the rising number of COVID-19 cases. However, the emergence of the COVID-19 pandemic impacted the software industry positively, and this positive trend is anticipated to sustain in the coming years. The increased adoption of 3D modeling technologies for printing, computer-aided-design (CAD), medical imaging, marketing, video game designing, and other tasks fueled the 3D animation software market growth. The imposition of lockdown to mitigate the pandemic crisis compelled people to stay at home and witnessed an upward trend in remote work and app-based entertainment services, thereby driving the growth of the media & entertainment sector. Simulation technologies allowed the broadcasting & media industry to offer advanced imaginative experiences during learning, shopping, and working. Thus, with a high demand for visualization, mobile applications, gaming, and digital marketing, the 3D animation software market has witnessed a surge in demand.

The key players operating in the 3D animation software market include Adobe, Autodesk Inc., Corel Corporation, EIAS3D, MAGIX, Maxon Computer GmbH, NewTek Inc., SideFX, Bondware Inc., and Strata, among others.

3D Animation Software Market – by Region, 2020 and 2028 (%)

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3D Animation Software Market Size, Share & Trends by 2028

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Published Report - 3D Animation Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (3D Modelling, Motion Graphics, 3D Rendering, Visual Effects (VFX), and others], Deployment (Cloud-Based and On-Premises), and Application (Media & Entertainment, Healthcare & Lifesciences, Manufacturing, Education & Research, and Others)