Market Research Report
Visualization and 3D Rendering Software
|Visualization and 3D Rendering Software|
Published: July 1, 2022
Global Industry Analysts, Inc.
Content info: 552 Pages
Delivery time: 1-2 business days
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Global Visualization and 3D Rendering Software Market to Reach US$6.3 Billion by the Year 2026
3D visualization basically is a process by which graphical content can be created through the use of 3D software. Similar terms are 3D rendering, 3D graphics, and top-quality computer-generated imagery (CGI). Over the years, 3D visualization has become immensely popular, gradually evolving into a most effective method to produce top-quality digital content and multiple industries that range from games, films and architecture to manufacturing and hospitals are using this technology exhaustively. Immersive technologies like virtual and augmented reality along with associated tools such as visualization and 3D rendering software options allow brands to successfully attract the target customer in the highly competitive landscape. These technologies are finding growing adoption among players planning to capture customer attention through an engaging experience. These immersive technologies have posted notable gains in the wake of the COVID-19 pandemic that has accentuated the relevance of visualization tools for immersive experiences. The healthcare crisis led to stringent measures such as social distancing that created high demand for immersive content and technologies that can help companies in connecting to the audience. In addition, the massive transition of customers to the online channel has made it imperative for brands to pay more attention to user experience. Moreover, specific segments such as retail and fashion are anticipated to present lucrative growth opportunity for immersive content and experiences. These technologies are expected to gain further from increasing affordability and availability of software and hardware components.
Amid the COVID-19 crisis, the global market for Visualization and 3D Rendering Software estimated at US$2.9 Billion in the year 2022, is projected to reach a revised size of US$6.3 Billion by 2026, growing at a CAGR of 20% over the analysis period. Standalone, one of the segments analyzed in the report, is projected to grow at a 20.8% CAGR to reach US$5.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plugin segment is readjusted to a revised 18.2% CAGR for the next 7-year period. This segment currently accounts for a 35% share of the global Visualization and 3D Rendering Software market. Visualization technologies and 3D rendering software are playing a transformative role in the gaming arena, and finding increasing acceptance among brands to uplift user experience. These technologies are poised to benefit from 5G networks and live streaming that exploits portable devices for enabling viewers to enjoy an engaging and enriching experience.
The U.S. Market is Estimated at $911.1 Million in 2022, While China is Forecast to Reach $1.1 Billion by 2026
The Visualization and 3D Rendering Software market in the U.S. is estimated at US$911.1 Million in the year 2022. The country currently accounts for a 31.1% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 26.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.4% and 19.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17.6% CAGR while Rest of European market (as defined in the study) will reach US$528.7 Million by the end of the analysis period.
Innovations Remain Crucial for Growth
The advent of powerful and efficient computers and server farms enables designers and artists to create interactive images, videos and multimedia experiences. The recent innovations and technological developments in 3D visualization rendering software such as real-time rendering, 3D modeling and printing streamline the design process by enabling designers to create precise prototypes. With the emergence of technologies such as augmented reality (AR) and virtual reality (VR), 3D rendered illustrations are becoming more and more immersive. As digital transformation continues to expand its reach across the world and the adoption of virtual and augmented reality solutions in the enterprise increases, 3D visualization is rapidly becoming a vital tool for many different types of organizations. The advancements in rapid computing speeds open up new avenues for 3D modeling and animation. The decrease in rendering times makes modeling and animation more financially accessible. 3D rendering has already made huge waves in a variety of industries. From 3D scanning to printing and modeling, the technology continues to help re-envision new projects, solve problems, and manufacture components.
By combining Virtual Reality (VR) with 3D visualization, various professionals are able to view a project or product throughout its life cycle and interact with it in a realistic and meaningful way. With these 3D visualizations, companies can bring their presentations to life by immersing clients in virtual showrooms or BIM models, allowing them to visualize plans and ideas in the concrete rather than the abstract. This type of setup that is immersive and interactive, allows designers to notice errors and faults early on, which is extremely important in fields such as architecture and construction. VR has already undergone massive media adoption. Artists are creating VR-based movies, music videos and experiences. VR technology typically consists of using a virtual reality headset, which helps the user immerse in an interactive experience within a digital environment. It is through the use of sounds, images, physical sensations, and even interactions that the user can be placed in a virtual world. There are now many businesses that are experimenting with VR user interfaces as a replacement of traditional computers or mobile interfaces. The integration of 3D visualization in virtual reality training platform plays a significant role in improving student engagement and performance. 3D VR platforms introduce an element of fun into dull and boring soft skills training procedures which enables employees to participate and retain the information taught within immersive learning environments. Though video conferencing tools offer many benefits, they still lack real-life interactions. With XR-powered 3D visualization, employees can collaborate on projects more naturally with improved focus and less-anxiety or discomfort from being on camera.
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