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Global 3D Animation Software Markets, 2021-2022 & 2028: Opportunities in Integration of Virtual Reality (VR) TechnologyDUBLIN, May 31, 2022 /PRNewswire/ -- The "3D Animation Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Deployment and Application" report has been added to ResearchAndMarkets.com's offering.  The 3D animation software market size is projected to reach US$ 39,395.1 million by 2028 from US$ 18,255.5 million in 2021; it is expected to grow at a CAGR of 11.6% from 2021 to 2028. Further, the growing desire for low-cost animation raises the demand for a whiteboard animation. The 3D animation software products are also being used in professional training. Traditionally, animation needs specialized labor-intensive processes that are time-consuming and expensive; however, modern 3D animation software allows users to create cartoons independently without the need for substantial knowledge. Moreover, teachers have no longer remained constrained to static pictures; they may easily transform instructional modules into instructive animations. Learning and teaching may become quicker, faster, and joyful with animation effects created using 3D animation software, making learning more task-oriented and practical and reducing the time and efforts required from students, as well as teachers/instructors. Thus, rising demand for 3D animation software in the education sector drives the 3D animation software market growth significantly. North America held the largest 3D animation software market share in 2020. The 3D animation software market growth in the region is attributed to the presence of numerous significant customers in the US, such as Fox Studio, Disney, and Nickelodeon; the general use of 3D animation technology; and increased investment in R&D processes by regional industry leaders. The exstence of prominent companies in 3D technology, such as Adobe and Autodesk Inc., and increased demand for 3D animation software in movies in the US and Canada are projected to boost the 3D animation market in the coming years. For example, the 3D animation and visual effects in Toy Story 3 movie were worth ~US$ 200 million. The VFX accounts for 60% of Hollywood movies' expenditure. Online gaming has significantly impacted the market in this region, wherein 3D animation and VFX play an essential role in gamification. 3D animation software analysis by technology, the 3D animation software market is segmented into 3D modelling, motion graphics, 3D rendering, visual effects (VFX), and others. The 3D modelling segment accounted for the largest share of the market in 2020. 3D modelling involves creating a mathematical representation of a 3-dimensional object or shape using software. It is used to portray real-world and conceptual visuals for art, entertainment, simulation, and drafting. 3D modelling has applications in virtual reality, video games, 3D printing, marketing, TV and motion pictures, scientific and medical imaging, and computer-aided design and manufacturing CAD/CAM. 3D animation software analysis by deployment, the 3D animation software market is bifurcated into cloud-based and on-premises. In 2020, the cloud-based segment led the market. Based on application, the 3D animation software market is segmented into media & entertainment, healthcare & life sciences, manufacturing, education & research, and others. The media & entertainment segment accounted for the largest share of the 3D animation software market in 2020. Further, the healthcare and life sciences segment is expected to register the highest CAGR in the 3D animation software market during the forecast period.
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