According to Global Market Insights, advancements in 3D modeling and emerging VAR tech are fueling the demand for efficient 3D rendering solutions. Increased competition is pressurizing enterprises to adopt 3D models for enhanced product visualization. As a result, there is a competitive edge in the dynamic market. Read further to understand why the 3D visualization market is expected to skyrocket in the following years.
WHAT IS 3D VISUALZATION?
3D Visualization is the process of creating an image based on three-dimensional data.
It is often used for demonstrations at events, presentations, and conferences.
3D visualization software guarantees additional benefits, such as real-time insights, user-friendly renderer interface, and improved processing, creating its demand among final users.
3D visualization and rendering mainly create a visual interface that allows project enlightenment to developers, creators, and customers.
FACTORS FUELING THE DEMAND FOR ADVANCEMENT IN THE 3D VISUALIZATION MARKET
The main factor that fuels the growth and advancement of 3D visualization software market trends includes increased virtual modeling and building design demand. There is also an increase in the demand for smart city architecture planning. These factors will fuel the growth of the global 3D visualization and rendering software market.
Furthermore, the need for real-time rendering and quicker decision-making capabilities positively impact the 3D visualization software market’s growth.
There is a surge in the adoption of cloud-based 3D rendering services. Moreover, there is also an increase in demand for high-level videography and gaming. These are expected to provide remunerative opportunities for the expansion of the 3D visualization market during the coming years.
According to a report published by Allied Market Research in 2016, the 3D visualization market was estimated at $747 million. It is expected to hit $2.9 billion by 2023. Having registered a 21.7% Compound Annual Growth Rate from 2017, 2023, there is no doubt that the 3D visualization software market will grow immensely.
In the UK alone, the software segment held over 70% of 3D visualization and rendering market shares in 2019. This estimation was estimated to show steady growth from 2020-2026. The developing popularity of complex visual effects, for example, shading, motion blurs, shadows, and texture-mapping, has increased the demand for 3D visualization and rendering solutions in the UK.
Different enterprises in the UK are currently investing in putting up on-premise solutions to counter issues, such as data privacy concerns and unreliable internet speeds, the cloud model faces.
Globally, the 3D visualization software market is showing promising revenue growth. In China, the software segment held over 35% 3D visualization and rendering industry revenue shares as of 2019. This is expected to grow with the growing demand for the software. Many Chinese industries heavily rely on physical prototyping, meaning they require the heavy adoption of visualization software to ensure extremely accurate virtual representations of products.
The global 3D visualization and rendering segment is characterized by rivalry among key players. It is fueled by the emphasis on global footprint expansion and solidifying partner networks. Therefore, all these factors play a key role in the 3D visualization software market’s projected growth. Different researchers provide a detailed market research report on the 3D visualization and rendering industry with in-depth coverages that will further convince you of the segment’s impending growth.
Mike is a researcher and developer for a science and technology center. He is also a professor on a community college which he has an internship program to give a chance for young people to learn more and develop their skills.