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 growth of the global 3D avatar solution market over the coming years.
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The global fashion industry has experienced rapid integration of advanced technologies in their apparel and designing and manufacturing processes. Global fashion brands such as Zara, Gucci, Burberry, Adidas, and Nike have launched their metaverse stores, enabling consumers to purchase clothes and accessories through metaverse for their avatars. For instance, in July 2019, Under Armour collaborated with Alvanon to announce the launch of its 3D fashion design for improving sizing and standardization of its sportswear. Thus, the rising adoption of 3D designing of clothes and accessories using advanced technologies is boosting the adoption of 3D avatar solutions by the global fashion industry, thereby, contributing to the market growth over the forecast period.
Thus, the fashion industry is rapidly adopting these NFTs platforms to sell their products owing to several benefits such as high-profit margin, secondary market profits, reduction in inventory wastage, and low design & production time. Therefore, these factors are positively influencing the demand for 3D avatar solutions in the global fashion industry and thus impacting the 3D avatar solution market size.
COVID-19 Pandemic Impact on 3D Avatar Solution Market
The COVID-19 pandemic has had a significant impact on North America due to a high number of immigrants traveling across the region, the lack of imposition of an early lockdown in North American countries, and the presence of a large number of COVID-19-infected people in the US, Canada, and Mexico in 2020. The pandemic has also impacted the fashion, entertainment, and medical sectors, which recovered owing to the increasing adoption of digital marketing and growing investment in advancing VFX technology. North America has the highest rate of advanced technology adoption due to favorable government initiatives fostering innovation and enhancing infrastructural abilities. The region is a major adopter of 3D avatars owing to the presence of a wide-scale consumer base for the entertainment industry and the presence of 3D avatar solution providers in the region. Thus, due to all the above factors, the 3D avatar solution market has benefited from the emergence of the COVID-19 pandemic.
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 some of the key 3D avatar solution market players profiled in the market study.
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