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.
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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.
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.
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Animation Software Market: Drivers and Challenges
Drivers
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.
Challenges
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: Segmentation
The animation software market has been segmented on the basis of solution, verticals and region.
Basis of Solution:
- Animation Software
- Services
- Integration & Design Services
- Consulting Services
- Training & Education Services
Basis of Verticals:
- Media & Entertainment
- Automotive
- Education
- Others
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