CAGR: 20.6%Current Market Size: USD 2.8 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
Global 3D Rendering market is expected to grow from USD 2.8 billion in 2021 to USD 12.52 billion by 2029, at a CAGR of 20.6% during the projection period 2022-2029.The increasing demand for virtual or augmented reality coupled with advancements in 3D modeling is expected to drive the market’s growth.
3D rendering generates an image based on three-dimensional data stored within a computer program. 3D rendering technology is mostly used for demonstration at various exhibitions, conferences, and presentations. In addition, the 3D rendering software offers various benefits, such as real-time insights, improved processing, and a user-friendly renderer interface. The various application of 3D rendering technology is expected to increase its demand among end users. Furthermore, the main aim of 3D rendering software is to create a visual interface, which provides a better understanding of a project to creators, developers, and customers. The market for global 3D rendering has been increasing owing to the increasing demand for building design and virtual modeling coupled with the surge in demand for architecture planning for smart cities. In addition, a surge in demand for faster decision-making capabilities and real-time rendering positively impacts the market's growth.
Sample Request: - Global 3D Rendering Market
Market Dynamics:
Drivers:
3D rendering is widely used by designers, architects, and engineers for visualizing their products. This software has a user-friendly interface, making it widely adopted by users. End-users use 3D visualization tools to create their 3D visuals per their requirements. Using rendering software is easy and user-friendly as it does not require a high level of technical expertise. The rendering plugins can be easily integrated with any engine or platform. Thus, the user-friendly interface offered by the 3D rendering tools provides the architects and designers with the basic expertise in the technology to efficiently use the tools. This is expected to drive the market’s growth over the forecast period.
Restraints:
There is very limited availability of 3D supporting technologies, which increases the overall price of the 3D services hindering the market’s growth. Further, the cost of designing new infrastructure for implementing 3D technologies and solutions is very high. To implement 3D rendering technologies, more smart devices and equipment are required, which adds to the cost of the 3D rendering devices. Moreover, devices such as 3D ultrasound machines and 3D scanners are 3D technology-based and require supporting 3D solutions, which increases the operational cost of the 3D rendering technology restraining the market’s growth. The high hardware cost used in the 3D rendering technology also hinders the market’s growth.
Opportunities:
The increasing adoption of 3D rendering in real estate for 3D modeling is expected to provide an opportunity for the market’s growth. 3D modeling of buildings and homes in real estate allows stakeholders and customers to visualize the exteriors and interiors of a construction project in an appealing manner. 3D rendering is a better and improved medium for design engineers and architects to communicate their construction project ideas in more tangible and photorealistic ways. This is expected to provide an opportunity for the market’s growth over the forecast period.
Challenges
In emerging economies such as APAC and Latin America, the lack of infrastructure for 3D rendering technology and services for the proper functioning of the technology poses a challenge to the market’s growth. Apart from this, there is also a lack of technical experts to support 3D rendering technology. In these regions, 3D imaging solutions are only used by limited organizations due to a lack of software training, executive support, and 3D imaging-compatible devices such as 3D displays. Apart from this, there is also a lack of adaptability to existing infrastructure that challenges the growth of the 3D rendering market.
Segmentation Analysis:
The global 3D Rendering market has been segmented based on product, application, end-user, and regions.
By Component
The product segment includes software (on-premise, cloud) and service. The software (on-premise, cloud) segment led the Global 3D Rendering market with a market share of around 58.22% in 2021. The demand for 3D rendering software has been growing owing to the increasing demand for CAD applications for non-visual simulations used in the engineering and medical sector. Most 3D models are developed via specialized software, and the product formed is a 3D model.
By Organization Size
The application segment includes large enterprises and SMEs. The SMEs segment led the Global 3D Rendering market with a market share of around 56.8% in 2021. With the advent of cloud-based rendering software, it is being increasingly used by small and medium enterprises. Small and medium enterprises' increasing use of 3D rendering in product design & modeling, animation, and visualization & simulation is expected to drive the segment’s growth.
By Application
The application segment includes product design & modeling, animation, and visualization & simulation. The visualization & simulation segment led the Global 3D Rendering market with a market share of around 36.8% in 2021. 3D rendering devices and solutions are increasingly being used by the real estate industries for visualization of their projects to their customers to increase their profit and enhance their market value. The increasing growth in the real estate industry is expected to propel the segment’s growth.
By End-User
The end-user segment includes Engineering & Construction (AEC), Automotive, Gaming, Healthcare, Manufacturing, and Media & Entertainment. The Engineering & Construction (AEC) segment led the Global 3D Rendering market with a market share of around 18.98% in 2021. A 3D rendering technology helps create a photo-realistic and professional visualization of future development of the buildings and homes designed by the architect. Due to the increasing application of 3D rendering technology, it is widely being used by several real estate giants, which is propelling the market’s growth. 3D rendering technology is beneficial for marketing and client presentations as it helps give them an accurate design of the proposed project. 3D rendering lets clients see the property's appearance once the construction is finished.
By Regional Analysis:
The regions analyzed for the Global 3D Rendering market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The north American region dominated the Global 3D Rendering market and held a 36.22% market revenue share in 2021.
Global 3D Rendering Market- Country Analysis:
Germany's Global 3D Rendering market size was valued at USD 0.26 billion in 2021 and is expected to reach USD 0.96 billion by 2029, at a CAGR of 17.8% from 2022 to 2029.
Germany is one of Europe's leading shareholders in the Global 3D Rendering market. The growing popularity of improved visual effects, such as shading, texture-mapping, shadows, reflections, and motion blurs, has driven the market for 3D rendering in the country. Various enterprises in the country are also investing in setting up on-premise solutions to counter issues, such as data privacy concerns and unreliable internet speed, faced by the cloud model, which also propels the market’s growth.
China's Global 3D Rendering market size was valued at USD 0.18 billion in 2021 and is expected to reach USD 0.72 billion by 2029, at a CAGR of 19.2% from 2022 to 2029. The growing market penetration of animation tools in China is expected to provide impetus to the market’s growth over the forecast period. Furthermore, the 3D rendering technology supports special effects in digital media, which has also boosted the market’s growth in the country. China’s gaming industry witnessed an approximately 11% Y-o-Y growth increase in revenue over the forecast period, which also boosted the market growth.
India's Global 3D Rendering market size was valued at USD 0.13 billion in 2021 and is expected to reach USD 0.30 billion by 2029, at a CAGR of 11.3% from 2022 to 2029. India is one of the highest growing economies in Asia. The increasing growth in the real estate sector in the country propels the growth of the 3D Rendering market. Furthermore, the region has a huge population pool and well-built technological infrastructure coupled with some prominent tech giants, which propels the market’s growth.
Key Industry Players Analysis:
To increase their market position in the Global 3D Rendering business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, and partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
20.6% |
Market Size |
2.8 billion in 2021 |
Forecast period |
2022-2029 |
Forecast unit |
Value (USD) |
Segments covered |
By Component, By Organization Size, By Application, By End-use |
Report Scope |
Revenue forecast, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Adobe Inc., Autodesk Inc., Blender, BluEntCAD, Chaos Software, Coral Corporation, Easy Render, Keyshot, MAP Systems, Maxon Computer, Pixologic Inc., Trimble Inc., Unity Technologies, V Render, among others |
By Component |
|
By Organization Size |
|
By Application |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global 3D Rendering Market by Component:
Global 3D Rendering Market By Organization Size:
Global 3D Rendering Market by Application:
Global 3D Rendering Market by end-user:
Global 3D Rendering Market by Region:
Global 3D Rendering market size was Valued USD 2.8 billion in 2021.
Global 3D Rendering market is expected to reach USD 12.52 billion by 2029, at a CAGR of 20.6% from 2022 to 2029.
The Engineering & Construction (AEC) segment led the Global 3D Rendering market with a market share of around 18.98% in 2021
User-friendly renderer interface is primarily driving the growth of the Global 3D Rendering market.
Leading market players active in the Global 3D Rendering market are Adobe Inc., Autodesk Inc., Blender, BluEntCAD, Chaos Software, Coral Corporation, Easy Render, Keyshot, MAP Systems, Maxon Computer, Pixologic Inc., Trimble Inc., Unity Technologies, V Render, among others.
The Global 3D Rendering market has been segmented based on Component, Organization Size, application, end-user, and regions.
Political Factors- Stringent government regulations and lack of investments affected the growth of the 3D rendering market in several regions. It is essential to bring more investments to improve workforce skills and meet the animation industry standards. Governments and industry regulatory bodies have started taking major initiatives, considering investing time and resources in enhancing the skills of animators. For instance, the Animation Council of the Philippines (ACPI) partnered with the Technical Education and Skills Development Authority (TESDA) and other government bodies to launch a training work program for 3D animators, designers, and application creators to enhance their skills.
Economical Factors- There is very limited availability of 3D supporting technologies, which increases the overall price of the 3D services hindering the market’s growth. Further, the cost of designing new infrastructure for implementing 3D technologies and solutions is very high. To implement 3D rendering technologies, more smart devices and equipment are required, which adds to the cost of the 3D rendering devices. Moreover, devices such as 3D ultrasound machines and 3D scanners are 3D technology-based and require supporting 3D solutions, which increases the operational cost of the 3D rendering technology restraining the market’s growth. The high hardware cost used in the 3D rendering technology also hinders the market’s growth.
Social Factor- An increased adoption of 3D rendering software and solutions by regional construction companies. Furthermore, the rise in the adoption of 3D rendering software among real estate companies for faster completion of their projects also propels the market’s growth. The increasing use of 3D mapping and modeling by small and medium enterprises and government agencies to meet the demand of consumers for a realistic virtual view of the product adds impetus to the market’s growth in the region. Furthermore, the increasing demand for 3D modeling, 3D imaging sensors, and 3D visualization and rendering software tools across various verticals including manufacturing, healthcare and life sciences, media and entertainment, and construction.
Technological Factors- AI technology is made of multiple building block technologies, including ML, deep learning, and atural Language Understanding (NLU), that develop algorithms to analyze data and find models that predict outcomes or understand the context with significant accuracy and improve existing data quality. AI-based big data solutions and services help industry verticals with the automation and early detection of fraudulent activities that can be avoided through predictive modeling. Companies such as Google are already using AI for implementing various features, such as image analysis, recommendations, and prediction, and improving its accuracy and efficiency. Other companies can employ the same to increase opportunities in 3D mapping.
Environmental Factors- 3D models help the user engage in better urban planning and appraise the potential environmental impact of new construction projects. Several real estate projects are expected to hamper the environment and increase pollution. Environmental Regulation Impacting Absolute Cost Advantage Dynamics in the Industry is also provided. Environmental Standards and Regulations both at National & Local Levels are studied.
Legal Factors- Autodesk, Inc. signed an agreement to acquire The Wild, an extended reality (XR) and cloud-connected platform, which includes its namesake solutions, IrisVR and The Wild. With this acquisition, Autodesk will be able to address the growing demand for virtual reality (VR) and augmented reality (AR) technology. Adobe announced a new collection named Adobe Substance 3D Collection, a collection of interoperable tools and services supporting 3D innovation from concept to completion.
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