ALBANY, New York, June 7, 2017 /PRNewswire/ --
The global market for visualization and 3D rendering features a largely consolidated vendor landscape, with the leading three vendors accounting for a nearly 80% of the overall revenue generated in the market in 2016, observes Transparency Market Research in a recent report. These three vendors, namely Autodesk Inc., Dassault Systems, and NVIDIA Corporation, have strengthened their positions in the market with the help of cost competitive pricing, continuous introduction of innovative and advanced solutions, and collaborations with the view of expanding product portfolios.
The market presents significant demand for customized solutions. Thus, offering more innovative solutions or introducing higher versions of existing products with added features could help companies to further reinforce their positions or achieve larger share in the overall market. In February 2017, NVIDIA Corporation announced the release of GameWorks DX12, a software that is said to have advanced real-time simulation and rendering technologies. Introduction of such solutions could allow companies in the visualization and 3D rendering market to achieve better returns.
Transparency Market Research estimates that the global visualization and 3D rendering software market, which was pegged at US$577.4 mn in 2016, will exhibit an excellent CAGR of 24.3% from 2017 and 2025 and rise to a valuation of US$4,068.8 mn by 2025.
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On-Premise Deployment Presently Most Preferred but Cloud-based Deployment Rapidly Gaining Traction
In terms of the type of deployment, the on-premise segment presently holds the dominant position in the global visualizations and 3D rendering software market. The segment accounted for a massive 66% of the overall revenue generated from the sales of visualization and 3D rendering software in the global market in 2016. However, owing to the rising popularity and the significant rise in the rate of adoption of the cloud medium for deploying visualization and 3D rendering software, the on-premise deployment segment will suffer a huge blow in its revenue valuation over the forecast period.
In terms of geography, the global market earns a massive portion of its revenues owing to sales across North America and Europe regions. Collectively, the revenue generated by the market for visualization and 3D rendering software in these regions accounted for a share of over 62% of the global market in 2016. Asia Pacific is also a key regional market for visualization and 3D rendering software products owing to the vast scope of usage in the thriving construction industry in the region. Driving on the back of the vast demand across construction and several other industries, the Asia Pacific market is expected to dominate in terms of rate of growth over the report's forecast period.
Faster and Low-cost Animation Development to Drive Adoption
By enabling quick visualization and animation development, visualization and 3D rendering software help accelerate the overall process of image processing, animation, and graphic designing. Also, the process eliminates the need for any additional sophisticated modeling models, thereby significantly cutting down the expense of creating and changing visualization models. These benefits of advanced visualization and 3D rendering software products are key the vast rise in their adoption across a number of industry verticals in the past few years.
The use of visualization and 3D rendering software in reducing the time for finalizing product images and thus creating marketing material faster, making just-in-time marketing of the product more achievable, is also a key driver of the global visualization and 3D rendering software market. Owing to these factors, visual artists in industries such as entertainment, automotive, architecture, advertising, and web design are expected to increasingly utilize visualization and 3D rendering tools to create lifelike scenes for use in media or client engagement purposes.
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This review of the global visualization and 3D rendering software market is based on a recent market research report published by Transparency Market Research, titled "Visualization and 3D Rendering Software Market (Deployment Type - On Premise and Cloud; End-use Verticals - Manufacturing, Construction, Media and Entertainment, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
For the study, the global market for visualization and 3D rendering software has been segmented as follows:
Visualization & 3D Rendering Software market: By Deployment Type
- Cloud Based
Visualization & 3D Rendering Software market: By End-use Industry Vertical
- Media & Entertainment
Visualization & 3D Rendering Software market: By Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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