Animation Software Market Overview
Nowadays, the growing demand for 3D animation across different industry for games, cartoons, and movies, is expected to boost the demand for animation software. Animation software offers different features such as high-quality 2D-3D animation, highly versatile, customizable, and easy to create customizable animation.
The animation software helps to create motion graphics, high-quality visual effects, and other interactive content. The reliability of such features drives the animation software market growth. The animation software provider engages in acquisitions, capital expenditures, investments, joint ventures, restructurings, and other strategic investments with an objective to acquire new technologies, develop new businesses, and enhance its business competitiveness.
- For instance, in January 2019, Autodesk, Inc. announced to acquire a preconstruction platform, which is entitled BuildingConnected to provide access for construction network.
Such acquisitions would create immense business opportunities for robust digital content creation, which would fuel to growth of the animation software market in the coming years.
Impact of COVID-19 Pandemic Outbreak on Animation Software Market
The COVID-19 pandemic outbreak has disrupted many industries, including the animation software market. The spread of COVID-19 has affected major industries in Europe, Asia, and North America, and partially in the Middle East, Africa, and Latin America. Digital media consumption is expected to witness a substantial increase as a direct consequence of lockdowns enforced in several countries across the globe.
With the spread of COVID-19, government has forced people to stay at home, as they are turning to popular OTT service providers, procuring IPTV subscriptions, etc. to satiate their entertainment needs. This has created a huge demand for the animation software market, which would see rising in adoption among the digital media content creators and publishers.
Animation Software Market: Drivers and Challenges
The major factor which is driving the animation software market is the increasing use of 3D printing, projection mapping, merging with reality-Augmented Reality (AR) and Virtual Reality (VR), and growth of brand licensing and merchandising throughout the world.
The increasing adoption of animation software due to its highly graphical data and detailed visual effects for various industry verticals. It also offers different benefits such as great sense of perception, provide value-added contents for clients, and simulation of concept and ideas in the form of illustrations, among others.
A mounting number of new animation software and service providers are entering the animation software market, where global tech-giants have already consolidated with the market position. This makes the animation software market a highly competitive market.
Furthermore, smartphone adoption across developing countries and increasing mobile internet penetration has been creating huge opportunities for the animated videos, movies and 3D games, which is set to fuel the animation software market growth.
Less amount of funding and investments, insufficient government support and intellectual property protection, among other factors, are expected to restrict the growth of the animation software market. Moreover, lack of skilled professionals and exposure to content piracy, also hampers the growth of animation software market.
Animation Software Market: Competition Landscape
Some of the prominent players providing animation software are
- Adobe Inc.
- NVIDIA Corporation
- Autodesk, Inc.
- Pixar, Inc.
- NewTek, Inc
- Corel Corporation
These vendors are continuously upgrading their animation solutions, to offer wide range of functionalities in the digital media content creation. Moreover, they also do strategic collaborations with creative and digital media houses/agencies, to expand their customer bases.
Animation Software Market: Regional overview
By geography, the animation software market has been segmented into North America, Europe, Latin America, East Asia, South Asia & Pacific, and MEA. Among these regions, North America is expected to dominate the global market for animation software due to the growing adoption of motion capture, motion graphics, and VR across different industrial verticals, in this region followed by Europe.
East Asia and South Asia & Pacific are expected to witness double-digit growth, in terms of revenue, in the global animation software market, due to the rising penetration of advanced digital technologies and expanding animation industry. Countries such as India, offers immense opportunities for animation vendors, due to high demand from the media and entertainment sector.
The animation software market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The animation software market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Animation Software Market Segments
- Animation Software Market Dynamics
- Animation Software Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Animation Software Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, South Korea, Japan)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
Animation Software Market: Segmentation
The animation software market has been segmented on the basis of solution, verticals and region.
Basis of Solution:
- Animation Software
- Integration & Design Services
- Consulting Services
- Training & Education Services
Basis of Verticals:
- Media & Entertainment