Animation Market Future Scope, Opportunities with Strategic Growth and Top Players Forecast 2022-2031
“Market Overview:
Global Animation Market is valued approximately USD 335.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.79 % over the forecast period Animation is a method in which pictures are manipulated to appear as moving images. Animations are of traditional, 2D, 3D and others. Where in traditional animation, images are drawn or painted by hand on transparent celluloid sheets to be photographed and exhibited on film. With adoption of advanced technologies, most animations are made with computer-generated imagery (CGI). Computer animation can be very detailed 3D animation, while 2D computer animation can be used for stylistic reasons, low bandwidth or faster real-time renderings. The rising media and entertainment industry, growing competition across industries and continuous advancements in technology and expansion of 3D and 4D technologies are the few factors responsible for growth of the market over the forecast period. Furthermore, the introduction of products and services and other strategic alliance by market key player will create a lucrative opportunity for this market.
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For instance: as per Company’s news release in January 2019, Autodesk launched Maya 2019, latest version of its popular 3D animation, simulation and rendering software, modeling, featuring significant updates to help artists achieve their creative vision with faster, more interactive and visually engaging working environment. The ongoing COVID-19 pandemic and the worldwide reaction to it has compelled companies to radically rethink their strategies and the way they operate. Allowing work form home in various industry sector leading to stable their enterprise in this pandemic situation, so thus the Animation sector is faces challenges. However, issues like piracy and a shift from renting to free streaming over the internet is the major factor restraining the growth of global Animation market during the forecast period.
The regional analysis of global Animation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of a large number of market players in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
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