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 size was worth USD 4.19 billion in 2020 and is expected to record a CAGR of 7.6% over 2021-2027, subsequently accumulating USD 7 billion by the end of the assessment period.
 

Increasing application of 3D animation technology in medical forensics, along with advent of artificial intelligence (AI) and virtual reality (VR) are propelling global animation software market growth. Statista cites that the artificial intelligence market was remunerated USD 14.69 billion in 2019 and is projected to amass USD 126 billion by 2025.
 

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For the unaware, animation software is used to create animated visuals using computer graphics. This software includes custom characters for automatic lip-synching, falling and dragging, animation libraries, and pre-defined sets. These programs support 2D animation, flipbook animation, stop motion, and 3D animation.  
 

Despite the favorable prospects, lack of skilled professionals and easily available open-source animation software are restricting the expansion of global animation software market.
 

As per product type, the market is split into 3D animation, 2D animation, flipbook animation, and stop motion. Moving on to industry verticals, the market segmentation comprises online education, automotive, media & entertainment, and others.
 

Based on regional terrain, Latin America, Asia Pacific, North America, and Europe are the leading contributors to the overall industry development. Among these, North America dominates worldwide animation software industry share, owing to increasing popularity of virtual reality (VR) and artificial intelligence (AI) technologies.
 

On the other hand, Asia Pacific industry is slated to grow substantially by the year 2027, attributable to growing acceptance of animation and related technologies, along with rising internet penetration.
 

Major contenders in global animation software market are Corus Entertainment Inc., Corel Corporation, Blender Foundations, Maxon Computer GmbH, Pixar Animation Studios, The Electric Image Animation System (EIAS), Side Effects Software Inc., Toon Boom Animation Inc., Adobe Systems Incorporated, and Autodesk Inc.