The 3D animation market is gaining traction, due to the increasing use of 3D mapping technology in navigation and geospatial analysis. However, the need for more investments and government support is one of the major challenges for the growth of the global 3D animation market. MarketsandMarkets forecasts the global 3D animation market size to grow from USD 12.01 Billion in 2017 to USD 21.05 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period (2017–2022).
There are several established players in this market, such as Adobe Systems Inc. (California, U.S.), Autodesk Inc. (California, U.S.), AutoDesSys (Ohio, U.S.), Corel Corporation (Ottawa, Canada), Maxon Computer (Friedrichsdorf, Germany), NewTek (Texas, U.S.), NVIDIA Corporation (California, U.S.), Pixologic Inc. (California, U.S.), SideFX Software (Toronto, Canada), The Foundry VisionMongers Ltd. (London, U.K.), Trimble Navigation Ltd. (California, U.S.), and Toon Boom Animation Inc. (Montreal, Canada). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers & acquisitions, and new product developments, to achieve growth in the global 3D animation market.
Adobe Systems is a key player in the global 3D animation market. The company offers a wide range of 3D animation solutions and services. The company actively follows strategies such as new product developments and acquisitions to strengthen its product portfolio. For instance, in June 2016, Adobe Systems acquired Mixamo, a 3D computer graphics technology company. As a result, Adobe Photoshop was integrated with Mixamo’s 3D technology. This has enabled Adobe Systems to offer easier 3D workflows, as a part of Creative Cloud suite. In August 2016, Adobe Systems launched Adobe Creative Cloud and Adobe Marketing Cloud. This launch helps the company to deliver, measure, advancement in Virtual Reality (VR) and effectively monetize TV and film content across multiple screens.
Corel Corporation is a major vendor in the 3D animation market. The company has formed partnerships and acquired companies to expand and strengthen its 3D animation solution portfolio. In March 2013, Corel formed a partnership with Lattice Technology, a leading provider of digital mock-up and technical communication solution. This partnership enabled Corel to use Lattice technology’s 3D XVL data models to improve technical communication workflow by leveraging 3D techniques. Lattice technology data models are directly accessible by CorelDRAW Technical Suite X6, thereby enhancing the quality of documentation for technical illustrators. Furthermore, in August 2016, Corel acquired MindManager to enhance Corel’s product portfolio and expand its global reach.
3D Animation Market by Technology (3D Modeling, Motion Graphics, 3D Rendering, and Visual Effects), Vertical (Media and Entertainment, Healthcare and Lifesciences, Manufacturing), Services, Deployment, and Region - Global Forecast to 2022
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