Global Visualization and 3D Rendering Software Market: Snapshot
The global market for visualization and 3D rendering software has significantly increased in the past few years owing to the market’s widening scope of application across a number of industries. As the market witnesses the introduction of products with increasingly innovative features with the capability of producing excellent 3D renditions of the desired object, visualization and 3D rendering software products are witnessing a further rise in adoption.
The global market for visualization and 3D rendering software products is expected to tread along an excellent growth path in the next few years. Transparency Market Research states that the market will exhibit a CAGR of 24.3% from 2017 to 2025, rising from a valuation of US$577.4 mn in 2016 to US$4,068.8 mn by 2025.
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Construction and Entertainment and Media Industries will Continue Exhibiting Strong Demand
On the basis of end-use verticals, the global visualization and 3D rendering software market has been segmented in the report into manufacturing, construction, media and entertainment, and healthcare. Of these, the construction industry vertical is presently the leading contributor of revenue to the global market, accounting for with a share of approximately 36% in 2016 of the global visualization and 3D rendering software. The vast usage of visualization and 3D rendering software by architects, designers, and building information modeling (BIM) modelers is the key factor to have strengthened the position of the construction industry in the global visualization and 3D rendering software market.
The usage of visualization and 3D rendering software is also observed prominently in the media and entertainment industry. The media and entertainment industry held the second position in the global visualization and 3D rendering software in terms of revenue contribution in 2016, accounting for over 21% of the market and is expected to hold its spot over the forecast period as well. While the construction and media and entertainment industries will continue to hold the top spots, the healthcare industry will lead to growth opportunities for visualization and 3D rendering software at the most promising pace over the forecast period.
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Demand in Construction Sector to Present Growth Opportunities in Asia Pacific
In terms of geography, North America is expected to dominate the global visualization and 3D rendering software market in 2016, accounting for more than one-third of the overall market in terms of revenue generation. Growth in the region is mainly attributed to well-established market players and rising demand from the media and entertainment industry. The U.S. is anticipated to be the most attractive market for visualization and 3D rendering software in the region. Demand will chiefly stem from architectural and designer agencies, VFX studios, BIM modelers, and some of the world’s wealthiest film studios.
The visualization and 3D rendering software market in Asia Pacific is expected to lead in terms of growth rate over the forecast period. The market is expected to chiefly benefit from the increasing usage of advanced technologies in the construction industry in emerging economies; the construction industry is itself thriving in the region owing to growing city infrastructure, and the rising number of construction projects in the fields such as hospitality, retail, and education, hinting at the vast window of opportunities for the visualization and 3D rendering software market.
The market in Europe is also expected to exhibit a promising CAGR over the forecast period, albeit lower than the projected growth rates across North America and Asia Pacific due to relatively less growth observed in the construction and manufacturing industries in the past few years. The growth in Europe region is will mainly be driven by the usage of 3D rendering software in media and entertainment industry, especially in the U.K.
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