3D Animation Market and its Key Opportunities and Challenges

November 11 10:48 2019
3D Animation Market and its Key Opportunities and Challenges

Adobe Systems (California, U.S.), Autodesk (California, U.S.), AutoDesSys (Ohio, U.S.), Corel Corporation (Ottawa, Canada), Maxon Computer (Friedrichsdorf, Germany), NewTek, Inc. (Texas, U.S.), NVIDIA Corporation (California, U.S.), Pixologic, Inc. (California, U.S.), SideFX (Toronto, Canada), and Toon Boom Animation, Inc. (Montreal, Canada)
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

The 3D Animation Market is projected 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, as per a report by MarketsandMarkets. 

How emerging 4D and 5D technologies is likely to present opportunities in the animation market?

After the popularity and stability of 3D animation technology, enhanced and advanced 4D and 5D technologies have emerged in the animation arena. The 4D technology has been instrumental in adding a space and time concept to its dimension. It provides animators a capability to move an object around its own mirror image. It helps in making the imagined into reality by engaging animations that effectively picturize a story. Furthermore, the 5D technology considered as the plane of light plots illusion over the 4th dimension of the plane. This enhanced animation technology offers an added advantage to animators for animating pictures and videos effectively. As the 3D technology is not featured to describe the new scientific observations, which can be contented by emerging 4D and 5D technologies. Therefore, these emerging animation technologies provide an additional opportunity to both animators who can use these enhanced technologies for creating advanced movies and games; animation vendors can offer advanced animation technologies to their commercial customers and animators.

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Why low level of proficiency remains a challenge?

Gaining a proficiency in developing a 3D animation project is a difficult task. It takes a long-term process to gain technical expertise as an animator. A 3D animator is expected to have necessary creative, artistic skills, and experience to develop a 3D animation project. According to Media Education Skill Council (MESC), a large number of animator’s lack required skills, because various training institutions do not require trainees to have an arts background. This results in skill gap among animators, due to which the animation companies have to invest more in training their workforce, which, in turn, affects the companies’ profitability.

Similarly, it is essential to bring more investments to improve workforce skills and to meet the animation industry standards. The government authority and industry regulatory bodies have started to take major initiatives, with a consideration to invest time and resources in enhancing the skills of animators. For instance, Animation Council of the Philippines (ACPI) has partnered with Technical Education Skill and Development Authority (TESDA) and other government bodies to launch a training work program for 3D animators, designers, and application creators to enhance their skills.

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The major vendors covered in the 3D animation market include Adobe Systems (California, U.S.), Autodesk (California, U.S.), AutoDesSys (Ohio, U.S.), Corel Corporation (Ottawa, Canada), Maxon Computer (Friedrichsdorf, Germany), NewTek, Inc. (Texas, U.S.), NVIDIA Corporation (California, U.S.), Pixologic, Inc. (California, U.S.), SideFX (Toronto, Canada), and Toon Boom Animation, Inc. (Montreal, Canada).

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