Visualization and 3D Rendering Software Market is to Witness Significant Growth of USD 7.96 Billion by 2027
The report focuses on growth prospects, restraints, and trends of the global visualization and 3D rendering software market analysis.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 24, 2023 /EINPresswire.com/ — Increase in adoption of cloud-based 3D rendering services and surge in demand for high-level gaming and videography would open lucrative opportunities for the market players in the future. 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, increase in demand for real-time rendering and quick decision-making capabilities supplemented the growth of the market.
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.
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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 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 representation 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 construction and real estate industries for visualization of their projects to their customers to increase profits and enhance market value.
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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.
Major industry players such as – Act-3D, Autodesk, Inc Altair Engineering, Inc., Cebas Visual Technology Inc., Corel Corporation, Dassault Systemes, Embodee, Luxion Inc., Next Limit Technologies, NVIDIA Corporation, OTOY Inc., Robert McNeel & Associates, SAP SE, Siemens AG and Webmax Technologies.
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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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