The report forecasts the global architectural rendering software market to grow at a CAGR of 29.37% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Growing demand for non-photorealistic rendering will be a major trend spurring growth in this market. In the mid-1970s, architects mainly depended on 2D pictures and drawings to design and plan the construction of buildings. Over the years, construction companies have started using 3D architectural rendering software as it offers many useful features. 3D rendering provides a realistic view of structures, which helps architects to create a preview or model of a building before it is constructed.
According to the report, the increased use of architectural rendering software in the Middle East and emerging Asian countries will drive the prospects for market growth until the end of the forecast period. The demand for architectural rendering software from construction and real estate industries is increasing in Middle East countries including Oman, Bahrain, the UAE, Saudi Arabia, and Kuwait as well as emerging Asian countries including India, China, Indonesia, and the Philippines.
Further, the report states that the increasing threat from low-cost service providers will pose a challenge for this market. The market is facing a challenge with regard to the increase in price wars. As the market is fragmented, vendors have to offer low-cost rendering services to survive in the competitive business environment.