3D Rendering Market Opportunity and Demand Analysis Report by 2030
Global 3D rendering market is estimated to cross a valuation of US$20 billion by 2030. Tech firms across the globe are introducing advanced versions of solutions to make it easier for clients to design and visualize their final product. Advantages, such as ease in adjusting textures, materials, & lighting and facilitating better explanation of concepts and designs will further enhance the software demand.
3D rendering market share is anticipated to grow at a promising rate due to the rising adoption of futuristic technologies in a wide range of sectors. For instance, the construction sector is increasingly using solutions to give their clients an overview of the design and structure of various buildings.
Apart from construction, entertainment, healthcare, automotive, and manufacturing sectors are some of the major users of software. The software enables these end-users to explore a limitless variety of options before finalizing a design or structure. It helps architects, marketers, and builders save money and time on travel, furniture, props, and interior designers.
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The usage of 3D imaging software has grown significantly in the education sector in recent years, especially during the COVID-19 outbreak in 2020-2021. Millions of students across the world were forced to switch to online classes. It gave software developers a unique yet profitable opportunity to create applications that use 3D animation to better explain complex subjects.
Edtech companies like Byju’s witnessed a major spike in their revenue margins during this period. In fact, edtech startups across India raised an astounding US$4.7 billion in funding, becoming the third-most funded sector in 2021. 3D rendering solutions give these firms the liberty to experiment with different designs to make online classes more engaging.
Enhancing the buying experience of customers has prompted companies to boost their investments in innovative technologies, such as 3D imaging and designing. Using 3D rendering software allows firms to avoid unnecessary expenses associated with the creation of multiple prototypes. They can also easily identify flaws in their product design and rectify them accordingly before starting the actual production.
Organizations are launching updated versions of their 3D imaging software to equip manufacturers with better technologies while designing their products. For example, American computer software company PTC launched an advanced version of its CAD software CREO in May 2022, called the CREO 9. The latest software will enable creators to make better designs in lesser time. The new functions in the software will make it easier for users to divide the design surfaces, which will improve their analysis and product definition.
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Growing investments by regional governments across the construction sector will bolster Latin America 3D rendering market forecast. In June 2022, the Inter-American Development Bank (IDB) announced that it had approved an infrastructure loan worth US$150 million to foster Brazil’s inclusive and sustainable development.
Such investments in public infrastructure will urge companies to use 3D rendering market applications to create a hyper-realistic design of buildings and transportation routes. The apps will help architects and builders identify faults in their designs & structures and make corrections without incurring unnecessary expenditures.
The industry will showcase continuous expansion as more sectors are showing their inclination towards 3D imaging and designing solutions. The media & entertainment industry has shown high potential for this market to flourish as customers are demanding engaging content. Ad agencies are also employing skilled 3D artists to create eye-catching content that will not only help companies boost their product sales, but also retain their customers’ loyalty.
Some of the top shareholders operating in the 3D rendering market include Easy Render, Foundry Visionmongers Ltd, Keyshot, MAP Systems, Maxon Computer, Next Limit Technologies, NVIDIA Corporation, Pixologic Inc., SideFX (Houdini), Tesla Outsourcing Services, Trimble Inc., Adobe Inc., Act-3D B.V. (Lumion), Blender, BluEntCAD, Chaos Software, Christie Digital Systems USA, Inc., and Autodesk Inc. Some of these firms are focusing on launching key products to expand their portfolio and reinforce their market position.
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