3D Rendering Software Market Booming Trends, Share, Growth Challenges, Key Players, Industry Segments and Competitors Analysis | COVID-19 Impact
The global 3D rendering software market is projected to experience growth at 15% CAGR from 2017 to 2023 (forecast period). High need for effective visual communication mediums is the primary market driver of the market. Immense demand from real estate and construction sectors to portray futuristic designs is likely to boost market sales till 2023. In addition, easy availability of sample models online which can be compatible with the latest 3D software can be monumental in its growth.
Animation has brought about unparalleled cinematic marvels which were only perceived in dreams or written in books. 3D rendering is the process of converting wireframe models to 3D which will be photorealistic. Various techniques include ray tracing, radiosity, and scanline rendering. Some of the well-known software include AutoCAD, Rhino, and Blender which assist visualizers in putting their idea across to impress their clients. The global 3D rendering software market report by Market Research Future (MRFR) compiles a list of drivers, opportunities, and threats engulfing the market.
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Major Key players
- Adobe Systems (U.S.)
- SAP SE (Germany)
- NewTek, Inc. (U.S.)
- Next Limit Technologies (Spain)
- Siemens AG (Germany)
- Dassault Systèmes (France)
- Render Legion S.R.O (Prague)
- Cristie Digital System (U.S)
- Chaos Group (Bulgaria)
- Luxion, Inc, (U.S.)
- The Foundry Visionmongers Ltd (London)
- NVIDIA Corporation (U.S.)
- Autodesk, Inc (U.S.)
- Corel Corporation (Canada)
- Trimble, Inc (U.S.)
The global 3D rendering software market is segmented by type, application, and end-user.
By type, it is segmented into plug-in and stand alone.
By application, it is segmented into videography, marketing & advertisement, research & training, and gaming. The research & training segment can be lucrative for the 3D rendering software market due to shortage of skilled professionals. On the other hand, the marketing & advertisement segment is predicted to be defining for the market owing to the need for detailed designs for a higher appeal. Furthermore, the rendering software can make products visually appealing to users and help them making an emotional connect with users. This is evident with car manufacturers using storytelling with the help of cars to sell its concept.
By end-user, it is segmented into healthcare, media & entertainment, and real estate. The real estate segment is expected to be one of the biggest revenue generators due to demand from the construction sector in developing economies. Initiatives by governments for developing smart cities will require the need for 3D imaging software which can render realistic designs. On the other hand, the media & entertainment segment can generate significant revenue due to the need for high-end visuals for depicting ideas and novel concepts.
The global 3D rendering software market has been segmented into five major regions such as Europe, Latin America, North America, Asia Pacific (APAC), and the Middle East and Africa.
Among them, the North America region commands a dominant share in the market till 2022 due to rapid use of 3D rendering across various industries such as aerospace, healthcare, automotive, and others. Rising use of visual effects in movies coupled with various production hubs in regions of U.S., Canada, and Mexico can drive the regional market growth.
The APAC region can be a possible destination for the 3D rendering software market owing to the outsourcing of various production and post-production work of movies, games, and other entertainment executed in India and China. Infrastructural development coupled with future smart city projects can trigger the need for software. Investments by companies in the region to gain a foothold in the region coupled with surplus of talent can drive the market growth.
June 2019 – Nvidia, a renowned company for making graphic cards, has decided to foray into game development and storytelling. It has decided to develop its real-time rendering for gamers and advances in hardware.
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