3D Rendering Market Size By Component (Software (On-premise, Cloud) Service), By Organization Size (Large Enterprise, SME), By Application (Product Design & Modeling, Animation, Visualization & Simulation), By End-use (Architecture, Engineering & Construction (AEC), Automotive, Gaming, Healthcare, Manufacturing, Media & Entertainment) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Australia, China, India, Japan, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019- 20253D Rendering Market is projected to cross USD 6 billion by 2025. The widespread adoption of 3D visualization and modeling among organizations for marketing & advertisement application is accelerating market growth. The organizations are leveraging on 3D rendering software capabilities to create 3D visuals and images to communicate the features of their products more effectively to the customers. The real estate and construction companies are also using 3D rendering solutions to develop attractive 3D models and images to attract customers & investors. 3D rendering solution allows organizations to represent their products in numerous simulated environments and multiple angels. This is augmenting the demand for 3D rendering solutions in the market.
The growing demand for real-time rendering solution also acts as a major driver for the 3D rendering market. As the competition among the market players is rising and the market dynamics are changing, the software developers are shifting to more customer-centric products and advanced technologies to provide better customer experience. Therefore, the organizations are focusing on real-time rendering solution to provide more fast, flexible and sophisticated solutions to meet customers’ requirements.
The software market accounts for more than 75% share in the 3D rendering market. The advancement in the 3D rendering space is driving market growth. As the competition in the 3D rendering market is increasing, organizations have started to focus more on research & development activities to differentiate their products. Companies have started to integrate advanced features into their products to gain an edge over competitors. This is driving the demand for more advanced 3D rendering software in the market.
The cloud rendering software market will attain an annual growth rate of more than 24% over the projected timeline. The cost-effective nature of 3D rendering as a service along with flexibility and scalability offered by the cloud model is augmenting its demand in the market. On the other hand, the service market will grow at a CAGR of more than 27% over the forecast period. The growing trend of outsourcing 3D rendering requirement among SMEs is the primary factor driving market growth.
Large enterprises account for over 60% share in the 3D rendering market. Large enterprises have dedicated department and resources to fulfill their 3D rendering requirement. These players use 3D rendering software to design, develop, and manufacture prototypes and models of the products. Moreover, large enterprises have a relatively higher budget for marketing and advertisement campaigns. This encourages the use of 3D rendering among players to develop high-quality 3D visuals and models of the products.
The product design & modeling market is projected to grow at a CAGR of 23% over the forecast period. The technology is widely used by manufacturers and e-commerce companies to develop attractive 2D visuals and models to display the features of the product. The 3D rendering software provides an array of tools for companies to create, simulate, and visualize products digitally. This is driving the demand for 3D rendering solutions in the market. The animation market is also estimated to grow at a CAGR of more than 22% over the forecast timeline. The growing adoption of the 3D rendering software among the gaming and media industry is propelling market growth.
The architecture, engineering & construction sector is leading the 3D rendering market with a share of over 40% in the revenue in 2018. The largescale adoption of rendering services among the architects and engineers is driving market growth. As industrialization & urbanization across the globe is increasing, the construction industry is moving toward advanced tech solutions to reduce the cost of operation and gain efficiency. Therefore, organizations are moving toward 3D technology tools to reduce errors in the designing process and the cost of operation.
North America is dominating the regional landscape with more than 35% share in the 3D rendering market. The early adoption of the technology in the region is the primary factor supporting the growth of the market. Moreover, the presence of the leading software developers in the region, such as Adobe, Autodesk, and NVIDIA, also foster market growth. On the other hand, Asia Pacific is estimated to grow at a CAGR of 24% over the forecast period. The rapid industrialization & urbanization in the region acts as the primary factor accelerating the adoption of 3D rendering solutions. Furthermore, the growing automotive and manufacturing sector in the region also promotes the growth of the 3D rendering market.
The prominent vendors in the 3D rendering market are NVIDIA, Trimble, Dassault Systems, Autodesk, Adobe, Chaos Software, Coral Corporation, Foundry Visionmongers, Pixologic, XR3D Studios, Next Limit Technologies, Keyshot, Christie Digital Systems, Blender, Act-3D, BluEntCAD, Easy Render, MAP Systems, SideFX, V Render, Unity Technologies, Tesla Outsourcing Services, Xpress Rendering, and Maxon.
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