The global 3D rendering market is expected to reach a considerable value by 2026, expanding at a CAGR of 20% during the forecasted period from 2020 to 2026. 3D printing is a computer graphics process in which 3D models are converted into 2D images or animation to visualize on a computer. The converted 2D images are used for simulation purposes, which may include photorealistic or non-photorealistic effects. The demand for 3D rendering has increased in recent times due to increasing construction & engineering activities. Larger enterprises such as manufacturing, automotive, and media have accounted for more than 60% of the market share in terms of revenue. However, the use of 3D rendering software in the SME sector is also gaining popularity.
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3D rendering software allows users to convert real-world models into computational presentations, which involves complex numeric algorithms. These processes are widely used to achieve high performance, reduce errors, and provide better results. Companies are investing heavily in R&D to develop new technologies such as IoT and AI, which can leverage 3D rendering to increase accuracy. The Asia Pacific region is growing exponentially in terms of usage of 3D rendering software. Countries such as India, China, Japan, and South Korea are investing heavily in developing new technologies. Growing construction activities due to increasing population in India and China, adoption of latest technologies for simulation, increasing expenditure on architecture activities, and enhanced user experiences are some of the factors that have bolstered the growth for the 3D rendering market and are predicted to continue the same in the forecasted period.
Market Trends, Drivers, Restraints, and Opportunities:
- The proliferation of IoT, increasing integration of AI with 3D rendering software, advancement in technology, high investment in R&D, improved user experience, cost-saving due to cloud-based services are some of the factors driving the growth for the 3D rendering market.
- The increasing adoption of 3D rendering & visualization for creating attractive models is the latest trend. It is also widely used in the telecommunication industry for creating a digital twin.
- One of the major challenges that is hampering the growth of the 3D rendering market is the cost associated with an initial investment in R&D, which sometimes outweigh the benefits of 3D rendering.
- The Asia Pacific region is an untapped market and provides many opportunities for growth. Increased adoption of technologies, growing construction activities, and the presence of major companies are some of the factors that have bolstered the growth.
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Key players operating in the global 3D rendering market are NVIDIA Corporation, Foundry Visionmongers, Chaos Software, Christie Digital Systems, Keyshot, MAP Systems, Tesla Outsourcing Services, Dassault Systems, Adobe, Coral Corporation, Maxon, Next Limit Technologies, Act-3D, Trimble, Unity Technologies, V Render, Xpress Rendering, Blender, Pixologic, Autodesk, SideFX, XR3D Studios, Easy Render, and BluEntCAD. Major strategies followed by these players are market expansion to increase the geographical reach, mergers & acquisitions, investment in R&D to develop new products, partnerships, creating entry barriers for new players, and integrating software, hardware, and network capabilities to enhance the user experience. In the year 2016, Next Limit Technologies was acquired by Dassault Systems to strengthen its market position.
The Global 3D Rendering Market has been segmented based on
- Media & Entertainment
- Engineering & Construction (AEC)
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- 3D Rendering Market Overview
- Global 3D Rendering Market Analysis and Forecast by Type
- Global 3D Rendering Market Analysis and Forecast by Application
- Global 3D Rendering Market Analysis and Forecast by Sales Channel
- Global 3D Rendering Market Analysis and Forecast by Region
- North 3D Rendering Market Analysis and Forecast
- Latin 3D Rendering Market Analysis and Forecast
- Europe 3D Rendering Market Analysis and Forecast
- Asia Pacific 3D Rendering Market Analysis and Forecast
- Middle East & Africa 3D Rendering Market Analysis and Forecast
- Competition Landscape
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