Visualization and 3D Rendering Software Market Expected to Reach $7.96 Billion by 2027
A surge in demand for virtual modeling and building design drives the growth of the global visualization and 3D rendering software market
PORTLAND, PORTLAND, OR, UNITED STATE, March 19, 2024 /EINPresswire.com/ — As per the report, the global visualization and 3D rendering software market was pegged at $1.48 billion in 2019, and is projected to reach $7.96 billion by 2027, growing at a CAGR of 23.1% from 2020 to 2027.
Visualization and 3D rendering involve the creation of images from three-dimensional data stored in a computer program. This technology is commonly employed for showcasing purposes at conferences, exhibitions, and presentations. The software also boasts a range of advantages, including enhanced processing capabilities, real-time insights, and a user-friendly interface for rendering, all of which contribute to its popularity among end users. Moreover, the primary goal of visualization and 3D rendering software is to craft visual interfaces that offer a clearer understanding of projects to creators, developers, and clients alike.
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The surge in demand for virtual modeling and building design and rise in demand for architecture planning for smart cities drive the growth of the global visualization and 3D rendering software market. Moreover, an increase in demand for real-time rendering and quick decision-making capabilities supplemented the growth of the market. However, lack of IT infrastructure, less demand in underdeveloped nations, and privacy issues hamper the market growth. On the contrary, an increase in the adoption of cloud-based 3D rendering services and a surge in demand for high-level gaming and videography would open lucrative opportunities for the market players in the future.
Impact of COVID-19 on Visualization and 3D Rendering Software Market:
• Owing to the COVID-19 outbreak, the market witnessed a sudden downfall with strict lockdown measurement imposed by several governments and shutdown of travel to prevent transmission of the virus.
• To prevent the spread of infection, real estate companies temporarily closed their construction activities, which hampered the demand for 3D rendering software.
• However, the demand is expected to increase post-pandemic as construction activities would resume.
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By product type, the stand-alone segment held the largest share in 2019, accounting for nearly two-thirds of the global visualization and 3D rendering software market. This is due to rise in the adoption of stand-alone software among various industries to enable extensive implementation and output generation from input data. However, the plugin segment is expected to register the highest CAGR of 24.0% during the forecast period, owing to increase in demand for faster software installation and product development process.
By application, the research & training segment is projected to portray the highest CAGR of 25.6% during the forecast period, owing to rise in demand for planning and execution of detailed visual representations of several research objects such as instruments, internal body organs, and microparticles. However, the architectural & visualization segment held the lion’s share in 2019, contributing to more than one-third of the global visualization and 3D rendering software market. This is due to rise in adoption of this software in the construction and real estate industries for visualization of their projects to their customers to increase profits and enhance market value.
By region, the market across North America held the largest share in 2019, accounting for more than one-third of the market. This is due to rise in demand for advanced 3D imaging tools among the North American countries and increase in adoption of visualization & 3D rendering software among different industries. However, the global visualization and 3D rendering software market across Asia-Pacific is expected to register the highest CAGR of 24.5% from 2020 to 2027, due to rise in demand for high-definition 3D viewing experience among the end-users, increase in construction activities, and rise in spending on different real estate projects in developing nations of the region.
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Major market players:
• Autodesk, Inc.
• Act-3D
• Altair Engineering, Inc.
• Dassault Systemes
• Cebas Visual Technology Inc.
• Corel Corporation
• Embodee
• NVIDIA Corporation
• Luxion Inc.
• Next Limit Technologies
• OTOY Inc.
• SAP SE
• Robert McNeel & Associates
• Siemens AG
• Webmax Technologies
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of global visualization and 3D rendering software market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the visualization and 3D rendering software market share from 2020 to 2027 is provided to determine the market potential.
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Related Report:
1. North America 3D Rendering Services Market
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