The global 3D Animation market was valued at over US$18,025 million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 10.4% between 2022 and 2029. The growing preference for high-definition (HD) content for video marketing and the rising usage of visual effects technology (VFX) in movies and games drive the global 3D Animation market.
3D Animation is a graphic technique that creates an illusion of movement in characters, objects, drawings, and models in TV shows, movies, and games.
AgileIntel’s global 3D Animation market study is a 157 pages report containing in-depth analysis on historical and forecasted spending patterns in the sector. The study offers granular value data from a global, regional, application, and printing type, perspective.
The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029.
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Insights on Animation Type:
The 3D Animation market has been segmented based on animation type into 3D Modeling, Motion Graphics, 3D Rendering, and Visual Effects.
The 3D Modeling segment held the largest revenue share of over 31% of the 3D Animation market in 2021 and is expected to maintain its dominance during the forecast period. Industry players are extensively using the 3D Modeling technique for designing and creating fully animated digital objects used in special effects and character animation. 3D Modeling techniques use different methods such as polygon modeling, 3D sculpting, 3D garment visualization, 3D laser scanning, etc., to create 3D images of different objects.
On the other hand, the Visual Effects segment is expected to be the fastest-growing segment registering a CAGR of around 13% during the forecast period. The extensive use of VFX technology in applications such as media and entertainment, marketing, visual analytics, product visualization, system visualization, information visualization, and scientific visualization is expected to propel segment growth in the coming years.
Furthermore, the Motion Graphics segment is projected to observe substantial growth during the forecast period. The high growth in this segment can be attributed to its wide use in creating animated videos. Motion Graphics can digitally track human actions, such as lip movement and facial expressions, thereby offering viewers a sound, visual experience.
Market dynamics
Trends
Evolving 3D Rendering and facial animation techniques are likely to remain a key trend, driving the 3D Animation market growth. The 3D Rendering techniques have evolved from non-realistic wireframe rendering to more advanced techniques, including ray tracing, radiosity, and scanline rendering. The rendering techniques may be real-time rendering or photo-realistic rendering. Real-time rendering is ideal for applications in interactive media such as simulations, games, mapping, and medical applications. In contrast, photo-realistic rendering is suitable for applications in non-interactive media such as feature videos and films, which are rendered at a slower rate. Furthermore, the 3D facial animation techniques have also evolved to create improved facial animation. To improve animation technology, academic systems or small standalone systems are gradually shifting to modern performance-driven technologies such as lip synchronization, expression coding, muscle simulation, etc.
Drivers
The increasing adoption of Visual effects (VFX) in the media and entertainment industry, including films, games, and commercials, is driving the 3D Animation market growth. VFX creates live-action imagery by using computer-generated graphics. It is executed in the post-production stage with the use of multiple tools such as animation, graphics design, and modelling. The use of VFX has made shooting convenient and economical as it reduces production costs. The rising trend of outsourcing VFX from developed countries to cost-effective developing countries has adversely affected the VFX artists in developed countries. To overcome the offshoring, governments in countries such as the U.K. and Canada are offering subsidies, grants, and tax relaxations to companies operating in the 3D animation sector. For instance, In November 2021, British Film Institute (BFI) - run U.K. Global Screen Fund (UKGSF) was allocated GBP42 million by the government to provide grants for film and television. The funds were aimed to support various screen content, such as documentaries, interactive narrative games, animation, and television.
Opportunities
The increasing use of 3D Animation technology in other segments such as chemical, energy, power, forensics, and travel and hospitality is slowly gaining traction, creating immense growth opportunities for the 3D Animation market. Forensic animation involves using full-motion Computer Graphics (CG) to explain the internal functioning of a process or device. It is also used to recreate an event such as architectural, industrial, vehicular accidents, and crime scene re-constructions. Similarly, 3D Animation is gaining prominence in the healthcare industry for teaching and understanding the mechanism of the human body. The biotech, medical device, and pharmaceutical industry have leveraged the benefits of 3D Animation by creating dynamic content and high-end visuals.
Challenges
In many countries, such as the U.S, the growth of the 3D Animation market is hindered by copyright infringement. Fan communities have released and renamed animation series as ‘fansubs’, which are gaining popularity in the absence of official releases. Many animation studios and distributors have a working partnership with these fan clubs, allowing them to even download and produce fansubs, which implies that even the copyright holders encourage and accept this copyright infringement, despite these being illegal. Moreover, the availability of digital platform to the fansubs has affected the profit share of animation distributors, as content can be copied without any limit, and their quality is similar to the official products.
Impact of COVID-19
The 3D Animation market has been positively affected because of the COVID-19 pandemic. As the COVID-19 global pandemic continues to induce physical movement and gathering restrictions, the demand for high-quality entertainment at home could become a competitive advantage for content creators. Due to the current work-from-home norms, the demand for cloud-based 3D Animation solutions has witnessed an upsurge from various industries. The adoption of simulation technology is allowing media and entertainment companies to offer viewers an advanced visualization experience.
Additionally, several industry players have undertaken strategic initiatives to help individuals during the ongoing crisis. For instance, in March 2020, Viacom International’s Nickelodeon introduced #KidsTogether, an initiative to support families and kids in fun and engaging activities. Likewise, in March 2020, NVIDIA expanded GPU licensing to 500 licenses to support companies in helping their employees. Furthermore, the 3D animation solutions have helped the healthcare sector by offering an enhanced mode of communication between doctors and patients, a training and learning platform for medical students, and marketing services for patients. For instance, in March 2020, Fusion Animation, an action medical animation video maker, unveiled a 3D model of the surface of the COVID-19 virus, which will enable scientists to research possible treatments to combat the pandemic.
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