According to a report by Grand View Research, Inc.; the global visualization and 3D rendering software market is projected to reach a valuation of around USD 5.63 billion by 2025. Demand for cost-effective and innovative technologies for visualization and simulation is anticipated to propel market growth over the forecast period (2014 to 2025). Such software offer user-friendly renderer interface, improved processing, and real-time insights. This factor is anticipated to bode well for overall market in near future.
Rising emphasis on innovation coupled with cost and time management is expected to positively influence demand for visualization and 3D rendering software. In addition, high demand for realistic media is likely to fuel market expansion during the forecast period. Moreover, increasing use to obtain real-time feedbacks and decision-making to maximize profit can augment growth of the market in the forthcoming years.
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However, lack of appropriate infrastructure in developing countries is anticipated to hamper market expansion over the forecast period. In addition, rising concerns regarding development, design, and delivery of 3D content can also restrict market growth to an extent.
The worldwide visualization and 3D rendering software market can be segregated on the basis of application, end-user, deployment, and region. Based on application, the market can be categorized into animation, product design and modeling, visualization and simulation, and others. Visualization and simulation is expected to emerge as the promising segment and is likely to attain significant market share in terms of value by 2025. These applications manage consumer insights and offer customized animation, visual effects, and graphics services.
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In addition, increasing competition is encouraging companies to adopt visualization and 3D rendering software to gain competitive advantage over their contemporaries. This factor is anticipated to bode well for market growth in the forthcoming years. Animation provide realistic experience to consumers and helps managing cost and time. Industries such as manufacturing, filmmaking, and architecture among others are expected to use 3D animation for gaining accurate information regarding designs. This factor is anticipated to propel demand in near future.
Based on end-user, the market can be classified into gaming, healthcare, architecture, manufacturing and automotive, media and entertainment, and others. Healthcare is anticipated to expand at a steady CAGR during the forecast period. These advanced software can train and educate personnel. In addition, they can help in viewing anatomical images, which can be used to improve surgical planning, diagnoses, and outcomes. Moreover, such software can enable secure communication regarding condition of patient, with patient’s family.
Based on deployment, the market for visualization and 3D rendering software can be divided into cloud and on-premise. In 2016, cloud segment dominated the market and accounted for a significant market share. Shifting consumer preference from on-premise to cloud deployment attributed to continual technological advancements can fuel market growth. Cloud-based solutions offer increased mobility, high scalability, and on-demand availability of resources. In addition, availability of tailored or customized cloud solutions for enterprises can positively influence preference for cloud over on-premise deployment. Hence, the cloud segment is expected to be the most promising segment over the forecast period.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. In 2016, North America dominated the market and accounted for largest market share. It is likely to grow at similar pace during the forecast period attributed to presence of major market players such as Adobe Systems Incorporated; Autodesk, Inc.; and Dassault Systèmes. In addition, availability of reliable wireless connectivity is expected to further fuel regional market growth over the next few years. Moreover, early adoption of latest technology in various sectors such as construction, engineering, architectural, gaming and entertainment, and others can augment regional expansion.
Some of the leading companies in the visualization and 3D rendering software market are Corel Corporation; Autodesk, Inc.; Dassault Systèmes; Trimble, Inc.; and Adobe Systems Incorporated. Most of these players focus on providing cost-effective, user-friendly, and innovative solutions. They are expected to increase R&D investments to develop innovative solutions for gaining strategic advantage. In addition, they are expected to engage in mergers and acquisitions to gain traction.
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