By deployment type the market is segmented into on premise and cloud. Cloud based is set to grow at highest rate during the forecast period 2020-2025 owing to the high adoption in many manufacturing firms. Rendering the cloud provides the virtually infinite computing power and enable the user to create realistic and high resolution images. Adding to this, the growing trend towards the adoption of the smart factories is further escalating the implementation of the cloud based deployment model thereby contributing to the growth of the market.
By End user- Segment Analysis
Architectural, building and construction is analysed to hold highest market share in 2019 majorly attributed to the high adoption of 3D rendering software for virtual visualization. Many architects, interior decorators and designers employ this software to provide the visual representation of their projects. In April 2020, Italian architect Stefano Boeri has presented a design for smart forest city in Mexico. These kind of designs are majorly generated using the visualization and 3D rendering software to showcase a realistic view of the project. Adding to this, the media and entertainment is analysed to grow at significant rate during the forecast period, which is majorly attributed to the integration of the animation tools and software with 3D rendering software for realistic scenes in video games, movies, television shows and so on thereby contributing to the market growth rate.
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Geography – Segment Analysis
North America is analysed to be the dominant region in 2019, followed by APAC and Europe. This is mainly attributed to the vast research and development activities in the region alongside the large infrastructural development. The presence of major players in the region is also contributing to the market share of the region. As stated by Smart America, the City governments of the American region is investing around $41trillion over the next 20 years for infrastructure development which is set to contribute to the market growth rate. Adding to this, APAC is the major hub for manufacturing industries, construction sector and the rising penetration of the 3D technologies in these products is set to escalate the market growth rate during the forecast period 2020-2025.
Drivers – Visualization and 3D Rendering Software market
- Growing urbanization and smart city projects
The significant rise in the urbanization and smart cities is certainly impacting the market growth rate. The significant deployment of the virtual model and architectural design in smart cities is set to boost the market growth rate. Adding to this, the growing investments into the city development is set to further escalate the market growth. In April 2019, ABB has stated that it is working closely with cities and utilities to obtain greater efficiencies from existing infrastructure and build unified, attractive City services for the development of smart cities.
- Increasing demand for gaming and videography
The significant rise in the demand for high level gaming and videography is certainly impacting the market growth rate. The significant rise in the product launches with the growing demand is set to further escalate the market growth rate. In July 2019, India has launched a 3D mobile video game with aerial combat theme. The rising filmography projects involving Sci-Fi require high definition graphics which is also a contributing factor for the market as the visualization and 3D rendering software play a crucial role in the generation of graphics.
Challenges – Visualization and 3D Rendering Software market
Although the growth for visualization and 3D rendering software is high, the lack of infrastructure in developing countries is set to hamper the market growth rate. As the digitalization is a key factor to the growth of the 3d rendering software market, the lack of proper infrastructure for the digital environment is set hinder the market growth rate during the forecast period 2020-2025.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Visualization and 3D Rendering Software market. Visualization and 3D Rendering Software driver market is expected to be dominated by major companies such as Autodesk Inc., Siemens AG, Adobe Systems, Dassault Systèmes, NVIDIA Corporation, Trimble Inc., Next limit technologies, Corel Corp., among others.
- In May 2018, Dassault Aviation has signed a multiyear agreement with Dassault Systèmes for the implementation of the 3DEXPERIENCE platform within the Dassault Aviation group.