Status : Published Published On : Jun, 2021 Report Code : VRICT5144 Industry : ICT & Media Available Format : Page : 176

Global Visualization and 3D Rendering Software Market – Analysis and Forecast (2021-2027)

Industry Insights by Deployment (On-Premise, Cloud), by Application (High-End Video Games, Marketing and Advertisement, Training Simulation, Architectural and Product Visualization), by End User (Media and Entertainment, Healthcare and Life Sciences, Architecture, Building, and Construction, Design and Engineering, Academia, Others), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Japan, China, India, Australia, South Korea, Brazil, U.A.E, South Africa, Saudi Arabia)

Industry Overview

The global visualization and 3D rendering software market was valued at 1.50 billion in 2020 and is anticipated to expand at USD 7.56 billion by 2027, growing at a CAGR of 22.5% from 2021 to 2027. Visualization and 3D rendering software are gaining strong acceptance in many industries, due to the continuous expansion of its applications such as architectural and product visualization, high-end video games, marketing, advertising, and training simulations in several industries. It has the ability to provide/create for users to draw prototype designs, realistic images and give users a full visualization of the space for presentation and full understanding before actually building anything. It helps in the design of their spaces, resources and helps organizations to proactively avoid rejections and mistakes and ensure to create better design products. Innovative technologies, just-in-time marketing, the emergence of user-friendly renderer interface, and high competitive rivalry are the trends stimulating market growth of visualization and 3D rendering software market. 

Visualization and 3D Rendering Software Market Highlights

Visualization and 3D rendering software are used for graphical user interfaces in industries such as transportation and telecommunications to provide the required information in an efficient and effective manner. In today’s scenario, the visual presentation is considered the most important and effective form of marketing due to the boom in the media and entertainment industry. 3D rendering adds realistic lighting simulations, shadows, atmosphere, colors, textures, and optical effects and helps to display images in the form of abstract images.

Market Segmentation

Insight by Deployment Type

Based on deployment type, the visualization and 3D rendering software market is bifurcated into on-premise and cloud. Among both the segments, the cloud-based visualization in the 3D rendering software market is anticipated to witness the fastest growth during the forecast period because different companies rely on cloud-based services to access technology from different locations and reduce installation costs. Cloud-based solutions provide businesses with high scalability, increased mobility, and on-demand availability of resources.

Insight by Application

Based on application, the market is categorized into high-end video games, marketing and advertisement, training simulation, architectural and product visualization. Of all these categories, marketing and advertising is expected to have the highest growth over the forecast period as it saves time and cost on prototyping. With the implementation of prototyping, organizations can customize their products according to customer requirements. In addition, this feature facilitates the global adoption of visualization and 3D rendering software, as it does not require special tools and processes to make design changes to the product.

Insight by End User

Based on end-users, the market is segmented into media and entertainment, healthcare and life sciences, architecture, building, and construction, design and engineering, academia, and others. The healthcare and life sciences segment is poised to witness substantial growth in demand for the visualization and 3D rendering software in the forecast period due to the increasing demand for easy-to-use renderer interference, and the adoption of technologically advanced solutions by vendors and payers. Moreover, 3D visualization can be used for purposes such as anatomical imaging to improve surgical planning, diagnosis, and outcomes.

Industry Dynamics

Growth Drivers

The main factor contributing to the growth of the visualization and 3D rendering software market is just-in-time marketing. Just-in-time marketing has increased the need to create marketing collateral in a short period of time. Business enterprises are adopting just-in-time practices and 3D rendering and visualization software, in order to tap the market opportunities.

Furthermore, by using the software, business enterprises can attract customers in real-time, helping them reduce costs and avoid waste. By using 3D and visualization software, business enterprises can complete projects on time and with reduced costs. To boost the user interface, 3D-enabled devices are used rapidly. The growing urbanization and smart cities will positively impact the visualization and 3D rendering software services market growth rate.

Opportunity

The growing demand for prototypes is a key factor in creating growth opportunities for the visualization and 3D rendering software market. Prototyping creates opportunities for visualization and 3D rendering software because it enables designers to obtain a realistic view of the image and provides a broader scope than CAD models. It helps designers to provide a comprehensive authentication to end customers that are looking for more realistic product designs, rather than simply displaying the design on screen. The adoption of rapid prototyping in 3D rendering and visualization software, as well as in product development and design, is a profitable decision and increasingly adopted by manufacturing organizations. Furthermore, the increase in adoption of cloud-based 3D rendering services and the rise in demand for high-level gaming and videography will offer remunerative growth opportunities for the market players in the visualization and 3D rendering software market globally.

Challenges

Lack of proper infrastructure and lack of awareness especially in emerging economies are hindering the growth of the market to some extent.  Lack of availability of 3D content and shortage of visualization infrastructure is one of the major challenges faced by the visualization and 3D rendering software market.

Geographic Overview

Geographically, North America is the largest in the visualization and 3D rendering software market because there is an increase in the demand for this technology by the well-established players of this region and rise in demand for this software from the media and entertainment industries.

Several organizations in the value chain are acquiring other companies in their respective markets to maintain their competitive position and provide effective solutions to their users. The main manufacturers are in North America and Europe. However, the 3D rendering and visualization software market in the Asia Pacific and MEA regions, mainly in countries such as China, Japan, South Korea and India, is growing rapidly. The growing demand for software will be attributed to designer agencies and architectural firms, visual effects studios, BIM modelers, and film studios around the world.

As advanced technologies are increasingly used by several developing countries in the construction industry, the 3D rendering and visualization software market is expected to experience the fastest growth in the Asia-Pacific region. Due to the development of urban infrastructure and the increasing number of construction projects in the hotel, retail, and education sectors, the construction industry in the region is booming, promoting the growth of the visualization and 3D rendering software market in the region.

Competitive Insight

Key industry players are adopting various strategies such as mergers & acquisitions, new product development, partnerships in order to gain traction in the market. Market players are investing in R&D activities to develop innovative solutions in order to have a competitive edge over the competitors. Moreover, the industry is mainly focused on providing creative, cost-effective, and user-friendly solutions to their customers.

Surbana Jurong and AutoDesk worked together to promote advanced technology adoption, sustainable design quality, and digital skills development in order to strengthen Surbana Jurong's technological leadership and competitive differentiation.

Dassault Aviation has signed a partnership agreement with Dassault Systems for the use of the 3DEXPERIENCE platform for the maintenance of its digital industrial processes.

Some of the key companies offering products and services in the visualization and 3D rendering software market include Autodesk, Inc., Siemens AG, Adobe Systems Incorporated, Dassault Systems, Nvidia Corporation, Trimble, Inc., Next Limit Technologies, Corel Corporation, SAP SE, Chaos Group, The Foundry Visionmongers Ltd., Newtek, Inc., Render Legion S.R.O., Luxion, Inc. and Christie Digital Systems USA, Inc.

Visualization and 3D Rendering Software Market Size and Market Analysis

Source: VynZ Research

Frequently Asked Questions

Different end users in the market include media and entertainment, healthcare and life sciences, architecture, building, and construction, design and engineering, academia, others.
The primary factor aiding to the growth of the visualization and 3D rendering software market is just-in-time marketing.
The major key companies offering products and services in the visualization and 3D rendering software market include Autodesk, Inc., Siemens AG, Adobe Systems Incorporated, Dassault Systems, Nvidia Corporation.
On the basis of deployment type, the market is subdivided on-premise and cloud. Of both the categories, cloud-based visualization and 3D rendering software market is anticipated to witness the higher growth during the forecast period.
Based on application, the market is segmented into high-end video games, marketing and advertisement, training simulation, architectural and product visualization.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Visualization and 3D Rendering Software Market