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3D Rendering Market Growing at a Healthy CAGR of 19% by 2028

Santosh Sargar

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As per the research, the global 3D rendering market is expected to grow from USD 2.8 billion in 2019 and to reach USD 11.48 billion by 2028, growing at a CAGR of 11.48% during the forecast period 2021-2028.

The 3D rendering market is witnessing significant growth form the past years. This growth is attributed to advancements in emerging virtual reality or augmented reality technology, and 3D modeling is causing a spike in demand for 3D rendering. The rise in requirement for just-in-time marketing and innovative technology is the critical trend encouraging market growth. The arrival of high competitive rivals and a user-friendly renderer interface create a surge in the 3D rendering market. The 3D rendering is highly used for demonstration at several exhibitions, animated movies, conferences, and presentations. 3D rendering is an integrated service utilized for graphical representation and advanced rendering.

The activity of converting information from a 3D model into a 2D image is known as 3D rendering. 3D rendering is utilized to create several pictures, from intentional non-realistic to photorealistic. The reason behind 3D rendered pictures is the rendering process which starts with 3D modeling despite being realistic or unrealistic. The 3D rendering is applied in visualization & simulation, animation, and product design & modeling. The computer graphics transforms 3D wireframe models into 2D images and 3D photorealistic for close to actual effects. 3D rendering is widely used by automotive, gaming, manufacturing, healthcare, media & entertainment, and architecture engineering & construction.

3D rendering is extensively used to demonstrate at several exhibitions, animated movies, conferences, and presentations. 3D rendering software creates a visual interface that offers a superior understanding of a project or assignment to customers, creators, and developers. The spike in the adoption of cloud-based 3D rendering services and the rise in the need for high-level videography and gaming has created a surge for 3D rendering. The increase in demand for better visualization of industrial or enterprise products has ensured a competitive advantage in the market that has propelled 3D rendering. These are the factors driving the global 3D rendering market. Factors such as absense of skilled professionals and the threat of software privacy are restraining the growth of the global 3D rendering market.

Some notable players in the 3D rendering market are Act-3D B.V., Adobe Inc., Autodesk Inc., Blender, Chaos Software, Coral Corporation, Easy Render, Dassault Systems SE, Foundry Visionmongers Ltd, MAP Systems, Keyshot, and NVIDIA Corporation, among others. To gain a significant market share in the global 3D rendering market, the key players now focus on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Adobe Inc. and Autodesk Inc. are some of the key manufacturers operating in the 3D rendering market.

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Cloud-based software segment dominated the market and held the largest market share of 59% in the year 2020

On the basis of components, the global 3D rendering market is segmented into service and software (on-premise, cloud-based). The cloud-based software segment dominated the market and held the largest market share of 59% in the year 2020. This growth is attributed to benefits cloud-based software offers the users, such as increased mobility, high scalability, and on-demand availability of resources which allows time and cost optimization. Cloud-based software is technologically more advanced.

SME software segment dominated the market and held the largest market share of 55.4% in the year 2020

On the basis of organization size, the global 3D rendering market is segmented into large enterprises and SMEs. The SMEs segment dominated the market and held the largest market share of 55.4% in the year 2020. This growth is attributed to the emergence of cloud-based rendering software that allows providing service at affordable prices to attract small & medium enterprises.

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Architectural, Engineering & Construction (AEC) software segment dominated the market and held the largest market share of 21% in the year 2020

On the basis of organization size, the global 3D rendering market is segmented into automotive, gaming, manufacturing, healthcare, media & entertainment, and architecture engineering & construction. The architecture, engineering & construction (AEC) segment dominated the market and held the largest market share of 21% in the year 2020. This growth is attributed to a surge in the employment of 3D rendering systems by engineers & architects to control & rectify design faults. 3D rendering allows cost efficiency in the construction and manufacturing phases.

Visualization & simulation segment dominated the market and held the largest market share of 46.7% in the year 2020

On the basis of application, the global 3D rendering market is segmented into visualization & simulation, animation, and product design & modeling. The visualization & simulation segment dominated the market and held the largest market share of 46.7% in the year 2020. This growth is attributed to assistance provided by 3D rendering to the product designer to diagnose misconceptions in the product design leading to improvement in product performance.

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