3D Avatar Solution Market is expected to reach US$ 544.87 million by 2028

The global 3d avatar solution market is expected to reach at US$ 544.87 million by 2028; registering at a CAGR of 31.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

Rising Gaming & Fashion Industries to Provide Growth Opportunities for 3D Avatar Solution Market During 2022–2028

A 3D avatar is a virtual representation of humans that is developed to help improve business applications such as sizing & fitting, game development, and healthcare research. The rising adoption of digitalization and advanced technologies across industries such as fashion, gaming, media & entertainment, and healthcare is propelling the demand for 3D avatars. 3D avatar solutions help create an efficient and realistic human model, thereby driving the 3D avatar solution market growth.

The rising adoption of social media among the global population, along with the rise in internet and smartphone penetration in urban areas, is also boosting the adoption of realistic and futuristic 3D avatars that offer a personalized experience to users. Businesses are also adopting 3D avatar models for applications in the customer support domain to provide efficient customer services. For instance, in December 2021, Capita launched its 3D avatar web chat services to offer more realistic customer service. The company partnered with Rapport for the development of a 3D avatar to replace their bot-based customer service. These factors are also propelling the global 3D avatar solution market growth over the coming years.

3D Avatar Solution Market Share — by Geography, 2021

Source: The Insight Partners Analysis

Europe accounted for the largest 3D avatar solution market share in 2021. This growth is attributed to the rapid adoption of technologies across industries such as gaming, media & entertainment, and fashion in countries such as Italy, France, Germany, and the UK. According to GSMA, with over 90% penetration of smartphones across the region, more than 40% of the European population is engaged in playing advanced mobile games. This offers lucrative business opportunities to the game developing companies present in the region, enabling them to develop advanced and innovative games with interactive and customized characters. The UK is one of the leading game developing countries in the world. It has been observed that, the country observed the emergence of 557 gaming developing companies from April 2020 to December 2021. Thus, the rising number of game developers and increasing adoption of AR and VR technologies for the development of realistic and futuristic games are contributing to the 3D avatar solution market growth in Europe.

The Europe 3D avatar solution market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The fashion industry in the region has experienced rapid growth owing to rapidly changing fashion trends in countries such as France and Italy. The adoption of automation, artificial intelligence, and other digital technologies in the fashion industry enables brands to customize their offering according to consumer’s needs, which is driving the industry’s growth. For instance, fashion brands such as Louis Vuitton, Gucci, and Balenciaga adopted 3D avatar technologies for various promotional events in the metaverse. In 2021, Balenciaga, in partnership with Fortnite, organized a virtual boutique for the gamers. The players were allowed to purchase digital outfits by trying them out in changing booths through their 3D avatars. Similarly, in 2021, Gucci collaborated with Roblox to organize an art exhibition for the promotion of their brands. Gucci allowed the participants to purchase their digital products to customize their blank avatars. This rising adoption of 3D avatars in the fashion industry is expected to offer business opportunities to the 3D avatar solution market players, thereby contributing to the growth of the 3D avatar solution market.

The 3D avatar solution market size is segmented on the basis of component, model, and end user. Based on component, the 3D avatar solution market is bifurcated into solution and services. Based on model, the 3D avatar solution market is segmented into stylized, realistic, and futuristic. Based on end user, the market is segmented into media and entertainment, healthcare, fashion, and others.

MotionWerx LLC, Texel Inc LLC, Osensus GmbH, Bodygee AG, Polyga Inc, IN3D Inc, TG3D Studio Inc, Itseez3D Inc, 3D Generation GmbH, and NeXR Technologies SE are a few of the key 3D avatar solution market players profiled during the study. Several other important 3D avatar solution market players were studied and analyzed during the course of this market study to get a holistic view of the market and its ecosystem.

The COVID-19 pandemic has severely impacted European countries, including Italy, France, Germany, the UK, and Russia. These countries have also experienced severe challenges in terms of economy and consumer spending. This has also influenced the business & trade activities and corporate working model, which further necessitated staying at home. Thus, staying at home has accelerated the usage of gaming apps and smartphone software. The rising use of these applications and software during the pandemic has enhanced the demand for gaming apps, which consist of 3D avatars; thus, the need for 3D avatars has increased. Also, the growing demand for 3D avatars has surged in the fashion, entertainment, and gaming industries. In the fashion industry, the 3D model helped fashion professionals to launch their products with accurate measurements. In the entertainment industry, the creator was able to create new movies using 3D avatars, as group gathering was not allowed.  Thus, all these factors have supported the 3D avatar solution market growth during the pandemic.

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