NEW YORK, Feb. 17, 2023 — (PRNewswire) — According to Technavio, the global 3D animation software market size is estimated to grow by USD 8,170.07 million from 2022 to 2027. The market is estimated to grow at a CAGR of 12.47% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 5,813.12 million. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.  For more Insights on market size Request a sample report

3D animation software market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

3D animation software market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

3D animation software market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (media and entertainment, construction, product design, and others), deployment (on-premises and cloud-based), and geography (North America, APAC, Europe, Middle East and Africa, and South America). 

• The market growth will be significant in the media and entertainment segment during the forecast period. The growth of the segment is driven by the success of multiplayer online battle arena (MOBA) titles in the gaming industry. MOBA titles have become one of the most popular genres of gaming. They feature impressive visual effects, which is resulting in an increase in the demand for 3D rendering and animation software.

Geography Overview
By geography, the global 3D animation software market is segmented into North America, APAC, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global 3D animation software market.

• APAC will account for 42% of the market growth during the forecast period. The high popularity of channels such as Cartoon Network, Pogo, and Nickelodeon and the demand for 3D animation content are creating significant opportunities for vendors operating in the region. In addition, the growing adoption of visual effects technology by end-users such as OTT, gaming, animation and VFX industries is driving the growth of the regional market.

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3D animation software market – Market Dynamics

Key factor driving market growth

• The market is driven by the growing use of VR animation.
• The increased availability of high-speed internet has led to the widespread adoption of advanced technologies such as AR and VR.
• AR and VR technologies are emerging as crucial tools for producing high-quality animation for content creators.
• Content creators can leverage these technologies to create and recreate fanciful environments that mimic visions and come across objects that do not match reality.
• Many movie makers across the globe are exploring the possibilities of VR technology with the increasing demand for animated movies.
• The growing use of VR technology in movie-making is expected to drive the demand for 3D animation software.

Leading trends influencing the market 

• The increasing use of 3D animation in marketing is the key trend in the market.
• 3D animation produces more engaging content that can hold the viewer's attention.
• Many brands are using 3D animation to showcase all the qualities of the product as it would actually be seen. This way customers can perceive the final product more clearly.
• Brands are also using 3D animation technologies to highlight their products through demos to attract more customers.
• This growing trend among brands will positively influence the global 3D animation software market during the forecast period.

Major challenges hindering market growth

• The availability of open-source 3D animation software is a major challenge hindering market growth.
• Most SMEs have limited budgets and hence, cannot afford expensive commercial software.
• They look for open-source 3D animation software products, such as Blender, True Space, 3D Canvas, and Google SketchUp 7 that provide advantages like cost-efficiency, availability, and user-friendliness.
• These products are freely available for everyone to use. They can be downloaded, installed, modified, and even used without incurring any costs.
• The increasing popularity of such open-source 3D automation software is expected to hinder the growth of the market during the forecast period.

Driver, trend, and challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this 3D animation software market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the 3D animation software market between 2023 and 2027
• Precise estimation of the size of the 3D animation software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the 3D animation software market industry across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of 3D animation software market vendors

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