ALBANY, New York, December 5, 2018 /PRNewswire/ --
According to the report, the global visualization and 3D rendering software market revenue stood at US$577.4 mn in 2016 and is expected to reach US$4,068.8 mn by 2025, exhibiting a CAGR of 24.3% during the forecast period from 2017 to 2025. Geographically, the market in North America dominated in 2016, acquiring more than one-third of the total market based on revenue generation. Of the leading end-use sectors utilizing visualization and 3D rendering software, the construction sector held the dominant 36% share in the overall market in 2016. The industry is likely to also remain the leading consumer of these software products owing to the broadening scope of visualization and 3D modeling in modern architecture projects.
The vendor landscape of the global visualization and 3D rendering software market is largely consolidated, with the top three companies collectively holding nearly 80% of the entire market in 2016, observes Transparency Market Research in a recent report. These top companies, namely NVIDIA Corporation, Dassault Systems, and Autodesk Inc., have made their positions even stronger over the years owing to the steady introduction of new solutions, strong geographical presence, and competitive cost structure of their products and services.
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In the highly competitive market, companies wishing to establish their presence in the visualization and 3D rendering software market could benefit from the high unmet demand in the field of customized solutions. Companies could also benefit from delivering innovative products or products with advanced features to tap relatively unexplored application areas in emerging markets. Working on similar idea, NVIDIA announced the release of its new rendering software called the GameWorks DX12 in early 2017. The software was well-received for its advanced real-time rendering and simulation technologies.
Increased Demand from Media and Entertainment and Construction Sectors to Drive Market
The global visualization and 3D rendering software market has been gaining momentum over the years owing to the vast benefits of these software tools in enabling quick visualization and animation work and the easy development of 3D render image of any object by making few alterations into the design with their help. Moreover, as image processing and animation of the 3D render images is easily done by skilled graphic designers, without the need for any additional sophisticated models, the overall cost and time required for creating and changing the models is reduced to a great extent.
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Demand from Emerging Economies to Remain High
As a result, these tools are finding increased demand in areas such as media and entertainment firms, marketing projects, architectural and designer firms, visual effect companies, automotive industry, telecommunication industry, and industrial electronics. Thus in regions such as North America and Asia Pacific, where BIM modelers, architectural and designer agencies, VFX studios, film studios continuously use such 3D rendering software, the market for visualization and 3D rendering software is likely to witness promising growth prospects in the near future. The visualization and 3D rendering software market in emerging economies is anticipated to see growth owing to growing city infrastructure, residential and commercial construction, increased population, hospitality, retail sector, and educational institutions.
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This analysis of the global visualization and 3D rendering software market is derived from a recent market research report 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."
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For the study, the market has been segmented as follows:
Visualization and 3D Rendering Software market: By Deployment Type
- Cloud Based
Visualization and 3D Rendering Software market: By End-use Industry Vertical
- Media & Entertainment
Visualization and 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
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