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3D Animation Market To Reach $51.03 Billion By 2030

3D Animation Market Size To Reach $51.03 Billion By 2030

January 2024 | Report Format: Electronic (PDF)

3D Animation Market Growth & Trends

The global 3D animation market size was valued at USD 51.03 billion in 2030 and is expected to grow at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2030. The rising demand of consumers for realistic and appealing content has made the public embrace 3D animation technology, leading to increased demand for technology. The growing acceptance of technology for visual effects in movies and the increasing demand for high-quality animation by customers drive the global market.

The adoption of 3D animation technology, also known as Computer Generated Imagery (CGI), significantly increased in the media and entertainment industry, owning to the deployment of Visual Effects (VFX) by animators, movie makers, and game player developers. Various technological advancements are driving the market, so technological advancements in the television and communication industries are the key driver for global market growth. Key driving factors for the increase in the animation market are- emphasis on quality HD videos, technology, and multiple usages of 3D animation.

The combination of Artificial Intelligence (AI) and 3D animation technology has made the process of stimulation quick and effortless. Many technology companies partner with Artificial Intelligence technology providers to simplify their simulation tasks and improve the overall working of several functions. For instance, in November 2020, the acquisition of software company Spacemaker, a provider of cloud-based AI software, by Autodesk, Inc. has allowed the company to accelerate the process of designing, planning, and developing infrastructure and town planning. This way, companies are coming forward and, with the help of emerging technologies making business more accessible. Many tech giants have already started integrating 3D technologies and AI support into their companies.

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3D Animation Market Report Highlights

The global market is being driven by the increasing use of visual effect technology in films and customer demand for high-quality animation. Furthermore, the enhanced use of 3D mobile apps and games propels the market growth
Based on the component segment, the 3D animation software segment is anticipated to record the highest CAGR of 13.2% from 2022 to 2030
Based on the technique segment, the 3D modeling segment accounts for the largest revenue share in 2021, while the virtual effects segment projects the highest potential for growth of 13.8% over the forecast period
The North America region contributed the largest revenue share in 2021 in the market. The Asia Pacific region is expected to record the highest CAGR of 13.3% for the forecast period