Animation Software Market is forecast to reach $478.87 billion by 2025, after growing at a CAGR of 8.47% during 2020-2025. With the rise in adoption of animation software across the various industry verticals for cartoons, movies and games is estimated to boost the animation software market during the given forecast period. In addition to this, the growing internet speed has expanded the demand for animated entertainment among different age group people. Also the gaming platforms such as Sony PlayStation, Microsoft Xbox, and Nintendo leverage the use of 3D animation software for 3D architectural visualization, special effects, editing digital gaming and others which are building favorable market environments for the animation software market.
• North American region dominated the Animation Software Market
in 2019 owing to high demand for animated games, movies and others.
• Growing demand of 3D mobile games, 3D rendering software and applications has been propelling the market. Additionally, increase in the use of mapping technology in navigation, and deployment of animation software across other industry verticals such as construction, entertainment and others are expected to drive the market growth.
• Increasing mobile internet penetration and growth in smart phones is expected to accelerate the animation software market due to enormous opportunities for animated videos, movies and others.
Product- Segment Analysis
3D animation segment held the largest share in the Animation software Market in 2019. With the advent of realistic, pragmatic, and innovative pictures, the demand of photo-realistic animation has been increased enormously. Additionally, 3D animation software is growing due to its detailed visual effects and highly graphical data for various industry verticals. Also, 3D animations software provides different benefits including great sense of perception, simulation of concept and ideas in the form of illustrations and many others. Thus, various industry verticals such as healthcare, media and entertainment, architecture, gaming, construction, education and academia, and others deploy 3D animation software and creates opportunities for the market.
Application – Segment Analysis
Media and Entertainment sector has been the primary market for Animation Software for many years. With the increasing mobile internet penetration and growth in the smart phones has been causing enormous opportunities for the 3D games, animated videos, movies and others which will set to boost the animation software market. Apart from that, growth in animated international films, especially 3D animated films is likely to direct the growth of the market. Thus, the regions such as North America, Europe leads the market due to the wide scope and demand for locally computer-generated imagery animation content thus providing a favorable environment for the market to grow.
Geography- Segment Analysis
In 2019, North America dominated the animation software market with the highest market share followed by Europe and APAC region. In North America, U.S. has the largest region for the market as a result of the growing adoption of motion graphics, motion capture and VR across various industrial verticals. The North American region having well established companies in the graphics and animation market space which empowers investment on R&D activities, creating new technological advancement in animation software.
In the developing countries such as India the amount of revenue generated by animation industry has increased from $0.43 Billion in 2011 to $1.12 billion in 2018, as per Prismart’s global report. This revenue generation is highly influenced by the multimedia studios, cable channel, and TV broadcast companies and others. There by, these trends in the developing countries would uplift the market during the forecast period 2020-2025.
Drivers –Animation Software Market
• Growing demand of 3D mobiles games and application
In the recent years, the rising trend of 3D video games which deploys animation software has been propelling the market. For instance, According to Wepc, in video game industry, APAC reached a revenue of $51.2 billion and hence became largest gaming market in 2017.
Also, videos games are becoming more cinematic and more immersive due to graphic technologies made by the players such as NVIDIA, AMD Inc and may others. Additionally, the increasing usage of virtualization techniques in gaming world is helping animation software to grow.
• Implementation of animation software in Cartoon and movies
The advent of animation software among cartoons and movies is expected to fuel the market. In recent time, there are many animated software are coming towards for professionals which gives them chance to learn and explore in the industry fuelling the market during the given forecast period.
Challenges – Animation Software Market
• Exposure to corruption & piracy
The continuous exposure to corruption and piracy of animated software may hinder the growth of market. For instance, countries such as China, Russia, U.S., India and many others are the hotspot for piracy and License misuse. These piracy issues make companies to devise strategies and tactics to manage their software IP in the face of widespread piracy. There by such issues creates obstacles for the players resulting retardation of the market.
The Animation software market is highly competitive. Major players in the Animation Software Market.; Adobe Systems, Inc.; Autodesk, Inc.; Corel Corp.; and The Foundry Visionmongers Ltd.,and others.
- In 2019 January, Autodesk, Inc. acquired a preconstruction platform called BuildingConnected to gain access to the construction network. This acquisition will present an opportunity for robust digital construction for the deployment of animation software and will create positive environment for the market to grow.
- In March 2017, Bandai Namco Holdings, Inc. invested $18.49 million to acquire Japan-based Anime Consortium to further add animation content in its plans and projects.
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