New York, March 28, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Visualization and 3D Rendering Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Training Simulation, Marketing and Advertisement, Video Games, Product Visualization, and Architectural Visualization), Deployment (On-Premise and Cloud), and End User (Media & Entertainment, Architecture, Construction & Building, Design & Engineering, Healthcare, and Others)”, the global visualization and 3D rendering software market growth is driven by surge in demand for gaming and videography, growing demand for 3D animation, technological advancements in AR and VR, rising demand for 3D content, and growth in 3D display devices, the growing adoption and integration of technologies such as artificial intelligence and machine learning in visualization and 3D rendering software to boost the accuracy of 3D content.
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| Report Coverage | Details |
| Market Size Value in | US$ 2.30 billion in 2021 |
| Market Size Value by | US$ 7.43 billion by 2028 |
| Growth rate | CAGR of 18.2% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 180 |
| No. Tables | 83 |
| No. of Charts & Figures | 85 |
| Historical data available | Yes |
| Segments covered | Application, Deployment, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Visualization and 3D Rendering Software Market: Competitive Landscape and Key Developments
Autodesk Inc.; Christie Digital Systems USA, Inc.; Dassault Systèmes; NVIDIA CORPORATION; Chaos Group; Luxion Inc.; OTOY Inc.; Next Limit; Act-3D. (LUMION); and Thea Render by Altair are among the key players profiled during this market study. In addition, several other essential visualization and 3D rendering software market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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In 2022, Autodesk announced the acquisition of Moxion, a New Zealand-based developer of a power, cloud-based platform for digital dailies used by the leading filmmaker.
Jaguar Land Rover and NVIDIA announced that they are redefining modern luxury, infusing intelligence into the customer experience. It will also deliver AI features inside the vehicle, including driver and occupant monitoring and advanced visualization, leveraging the DRIVE IX software stack.
The global visualization and 3D rendering software market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. North America led the market in 2020. The growth of the market in the region is attributed to a few factors such as favorable government policies and positive outlook toward the new technology adoption. Also, the presence of robust digital infrastructure and major market players propels the visualization and 3D rendering software market in North America. In terms of market size, Europe ranks second in the global visualization and 3D rendering software market.
Europe has the presence of well-developed countries that favors the adoption and application of new technologies. Also, the existence of the manufacturing & construction industry increases the penetration of visualization and 3D rendering software in this region. The market in APAC is projected to witness an impressive growth rate during 2022–2028. The region comprises developing economies, such as China, India, South Korea, and several Southeastern countries, along with developed economies, such as Australia and Japan. Further, APAC is characterized by vast industrialization and a large young population, which is inclined toward the adoption of new technology. The region is projected to generate the highest growth opportunities for market players owing to a major push by governments for developing the manufacturing & construction industry.
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Moreover, the increasing penetration of internet and connected devices has influenced ecommerce, which has subsequently propelled the growth of the logistics sector. Meanwhile, government initiatives related to the development of smart cities in India, Singapore, South Korea, Japan, China, and other countries across APAC are among the other factors expected to create opportunities for the visualization and 3D rendering software market players during the forecast period. Meanwhile, the visualization and 3D rendering software market in Middle East & Africa and South America would experience growth in the coming years owing to government initiatives toward the adoption of digital technologies.
Cloud computing is transforming modern workplaces across all key industry verticals by offering enhanced security, scalability, and flexibility, thus accelerating the development of innovative solutions and services for enhanced end user experience. Further, cloud solutions have lower operating costs, faster visibility, and updates to enterprises while operational risks. The continuous advancement in cloud architectures and integration of advanced features in cloud solutions further increase the adoption rate of these solutions among end users.
Moreover, the complex and high installation & maintenance costs associated with on-premise solutions is propelling organizations to migrate to cloud-based solutions. Thus, scalability, high level of security, operational flexibility, easy deployment, and low cost are the key factors expected to the growth of cloud-based visualization and 3D rendering software market among enterprises during the forecast period.
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Visualization and 3D Rendering Software Market: Application Overview
Based on application, the visualization and 3D rendering software market is segmented into training simulation, marketing & advertisement, video games, product visualization, and architectural visualization. Architectural visualization or architectural rendering helps in creating 2D and 3D images that depict the attributes of the proposed architectural design. This software enables the designers and architects for evaluating the scales and proportions by deploying intuitive and interactive 3D modelling and simulating the effects of lighting, acoustics, and ventilation in the internal environments. Architectural visualization consists of every process involved right from basic sketches to the renderings and virtual interactive tours. Moreover, with technological advancements such as AR and VR, designer is using this technology for creating interactive and enhanced architectural models, which provide better output for final review and help for marketing and advertisement application using VR for provider an enhance experience to the prospect customer.
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