According to the research report titled ‘Global Animation Software Market Size study, by Product Type (Stop motion, Flipbook Animation, 2D Animation, and 3D Animation), by Industry Verticals (Media & Entertainment, Automotive, Online Education, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global animation software market amassed USD 4.19 billion in 2020 and is speculated to reach USD 7 billion by 2027, expanding at 7.6% CAGR between 2020-2027.
 

Increasing usage of 3D animation in mobile games, coupled with incorporation of visual effects in movies are key factors spurring global animation software market expansion. Emergence of virtual reality (VR) and artificial intelligence (AI) technologies as well as rising application of 3D animation in medical forensics sector will stimulate industry growth as well.
 

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According to Statista, artificial intelligence market was worth USD 14.69 billion in 2019 and is anticipated to be valued at USD 126 billion by 2025. It will also explore new market opportunities and expand user knowledge.
 

For the unaware, animation software along with computer graphics is utilized to create animated images. 2D animation, Flipbook animation, 3D animation, and stop motion are also possible with these software. It also includes pre-defined sets, automatic lip-syncing, customized characters for dragging & falling, and animation libraries.
 

On the other hand, shortage of qualified professionals, and easy availability of open-source alternatives are poised to hamper global animation software industry growth.
 

Based on product gamut, the market space is divided into stop motion, 2D animation, flipbook animation, and 3D animation. Speaking of end-user spectrum, the industry is bifurcated into media & entertainment, online education, automotive, and others.
 

Regionally speaking, North America held majority of the worldwide animation software market share in the past year owing to surging popularity & potential of virtual reality and artificial intelligence. Meanwhile, Asia Pacific market is anticipated to grow rapidly through 2027, due to rising adoption of animation and other related technologies, and increasing internet penetration.
 

Key players profiled in the report are Corus Entertainment Inc., Autodesk Inc., Blender Foundation, Adobe Inc., Corel Corporation, Toon Boom Animation Inc., Pixar Animation Studios, Side Effects Software Inc. (SideFX), Maxom Computer GmbH, and Electric Image Animation System.