The integration of virtual reality (VR) technology for visual effects creates new opportunities in the years to come.
PORTLAND, PORTLAND, OR, USA, July 23, 2022 /EINPresswire.com/ — The rise in the use of visual effects in movies, the rise in consumer demand for high-quality content and the increase in the adoption of cloud for animation are driving the growth of the global 3D animation industry.
The global 3D animation market generated USD 14.08 billion in 2018 and is expected to reach USD 33.78 billion by 2026, registering a CAGR of 11.6% from 2019 to 2026.
The report offers a detailed segmentation of the global 3D Animation market on the basis of component, mode of deployment, technology, industry vertical, and region.
Major Market Players such as – Pixologic Inc, NVIDIA Corporation, Sidefx Software, The Foundry VisionMongers Ltd, Corel Corporation, Zco Corporation, Maxon Computer, Adobe Systems Incorporated, Autodesk Inc and Newtek Inc.
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia Pacific is expected to grow at the highest CAGR of 14.1% from 2019 to 2026.
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Based on components, the solutions segment contributed the largest share in 2018, accounting for more than two-thirds of the total share, and is expected to maintain its dominant position over the forecast period. However, the services segment is expected to register the highest CAGR of 12.4% from 2019 to 2026.
Based on deployment mode, the on-premises segment accounted for the largest share in 2018, holding nearly three-fifths of the total share, and is expected to retain the largest share throughout the forecast period. However, the cloud segment is estimated to exhibit the highest CAGR of 12.6% during the forecast period.
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• The operations of organizations offering 3D animation services and products have not been affected much during the coronavirus pandemic, as employees can work from home.
• On the other hand, the demand for 3D animation from the media and entertainment and construction and manufacturing industries has been reduced during the coronavirus outbreak.
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Finally, this report provides market insights in the most comprehensive way. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.
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