LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global animation design software market to grow to USD 4,288.94 million by 2021, at a CAGR of more than 16% over the forecast period, according to their latest report.
The research study by Technavio on the global animation design software market for 2017-2021 provides a detailed industry analysis based on the end-users (media and entertainment (M&E) industry and gaming industry) and geography (the Americas, EMEA, and APAC).
Animation design software is a tool for creating images that appear to be moving. It also creates visual effects with the aid of computer graphics. The media and entertainment industry are the largest end-users for this software, where it is used for movies, television programs, print media, concerts, award shows, advertisements, M&E videos, and Internet media.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global animation design software market:
- Increased use of animation design in movies and video games
- Use of animation design software for TV commercials
- Rise in demand from APAC
Increased use of animation design in movies and video games
“The use of animation design in the film and television industry is rapidly increasing, driven by the rising popularity of animated movies such as Cars, Toy Story, and The Incredibles. The enhanced graphics, clarity and quick rendering of frames drives the popularity of the software,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application research.
The demand for games with animated characters and imageries is another key factor driving the market growth. The gaming industry is a major end-user in the global animation design software market, where they use the software to create stunning animation effects in 3D and complex animations.
Use of animation design software for TV commercials
The increased use of design and animation in television commercials is a major growth driver for the global animation design software market. Companies across the globe are integrating the best marketing tools to differentiate themselves from their competitors and establish a strong market foothold. Companies are producing 3D animated commercials to provide potential customers with advertisements animation and design software. LG, Rolls-Royce, and Motorola are among the major brands that implemented 3D animation techniques in their product advertisements.
Rise in demand from APAC
“APAC is a swiftly growing segment in the animation design software market, with countries such as China, India, and Japan leading this growth. The rising interest toward 3D animations among the younger demographics is boosting the demand from the market,” says Ishmeet.
A notable investment of USD 3.05 million in the Anime Consortium was made in Japan by Kodansha, Shogakukan, Shueisha, KADOKAWA, Bushiroad, Good Smile Company, and Toei Animation. This investment and the collaboration with anime studios and game developers helped Anime Consortium add more value-added anime content in its projects.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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