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Visualization And 3D Rendering Software Market Forecast 2024-2033: Size, Drivers, and Emerging Trends
Visualization And 3D Rendering Software Market Forecast
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According to The Business Research Company's, The visualization and 3D rendering software market size has grown exponentially in recent years. It will grow from $3.62 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 22.9%. The growth in the historic period can be attributed to increasing demand for realistic visualizations, rise in architectural and construction projects, entertainment and media industry growth, product design and prototyping needs, demand for virtual prototypes in automotive.
The visualization and 3D rendering software market size is expected to see exponential growth in the next few years. It will grow to $10.68 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to increased use in healthcare visualization, expansion of gaming and simulation industry, architectural visualization for smart cities. Major trends in the forecast period include cross-industry applications, blockchain for rendering services, non-photorealistic rendering (NPR), generative design visualization, sustainability visualization.
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Market Drivers and Trends:
The increasing demand for gaming and videography is contributing to the growth of the visualization and 3D rendering software market. Gaming refers to the act of playing various games. The visualization and 3D rendering software help to enhance various objects and designs displayed in games and movies. The companies in the gaming and videography market are using 3D rendering software to create realistic movie scenes and video games for the audience. For instance, according to the Entertainment Software Association (ESA), a US-based association of video games, in 2021, nearly 227 million people played video games in the US. In addition, two-thirds of adults and three-quarters of children under the age of 18 play video games at least once a week. Therefore, the increasing demand for gaming and videography is promoting the demand for visualization and 3D rendering software market growth.
The use of artificial intelligence and machine learning in visualization and 3D rending software is the key trend in the visualization and 3D rending market. Integration of machine learning can decrease the effort and time of users to prepare renders. These AI and machine learning techniques will also provide real and attractive 3D render for customers. For instance, in February 2022, Printpal, a US-based machine learning firm, introduced PrintWatch, new artificial intelligence-based defect detection software for use with 3D printers. PrintWatch leverage the use of machine learning to monitor 3D print jobs and determines exactly when a defect begins to form in real-time and takes necessary actions. The software is designed to prevent printers from carrying a defective print which saves time and filament while reducing the risk of hardware damage.
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Major Key Players of the Market:
Siemens AG, SAP SE, NVIDIA Iray, Adobe Inc., Dassault Systèmes SE, Autodesk Inc., Trimble Inc., Render Legion S.R.O., Unity Technologies Inc., NewTek Inc., Altair Engineering Inc., NVIDIA Corporation, Corel Corporation, Foundry Visionmongers Limited, Chaos Group LLC, Binyan Studios Pty Ltd, Enscape GmbH, The Boundary Studio Ltd., Dbox LLC, Next Limit Technologies S.L., Act-3D B.V., Luxion Inc., Kilograph Inc., Cebas Visual Technology Inc., Luxigon SAS, Mindesk Srl, Brick Visual Kft., Cristie Digital Systems Inc., D5 Render Inc., Blender Foundation
Visualization And 3D Rendering Software Market 2024 Key Insights:
• The visualization and 3D rendering software market size is expected to see exponential growth in the next few years. It will grow to $10.68 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%.
• Surging Demand For Gaming And Visualization To Drive Market Growth
• Technological Advancements Driving Innovation In Visualization And 3D Rendering Software Market
• North America was the largest region in the visualization and 3D rendering software market in 2023
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