3D Rendering Market Competitive Landscape, Recent Development and Overview by 2026
The 3D rendering market is estimated to record over USD 9 billion by 2026. For the uninitiated, industry includes modeling, refining and rendering of images. The technology is highly preferred in product design and customization sectors to drive new product development. It is also widely used as a software in architectural visualization and animated movies.
Rising requirement for innovative and cost-effective 3D software technologies is expected to favor 3D rendering market size by 2026. Demand for enhanced visualization and animation production is likely to drive new growth opportunities for product developers. Growing industrialization and urbanization along with the application of advanced technologies in industrial production designing may boost the demand over the coming years.
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Given to increasing product demand, several 3D rendering market producers are developing advanced solutions and software suites. For example, in 2019, Nvidia Corp. announced that all the top 3D application providers in the world have adopted the NVIDIA RTX ray-tracing technology in their upcoming projects.
The software segment is growing rapidly and is estimated to record at a CAGR of more than 20% during the forecast period. Availability of cost-effective and advanced software solutions that offer strong visualization, modeling and animation capabilities will favor segment growth.
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Cloud-based 3D rendering market software provides accelerated, remote modeling and visualization. Enterprises are preferring pay-per-use business model used in cloud-based software owing to its cost-effectiveness. Increasing partnerships between vendors and cloud service providers may fuel new growth strides in software market.
The animation industry is increasingly using solutions. Estimates suggest that the animation application segment may register at a CAGR of almost 25% over the forecast timeframe. Animation production firms are using 3D rendering solutions for producing animated movies, video games, illustrations and architecture. Companies are combining these solutions with animation tools to obtain realistically visualized movies or images.
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North America is anticipated to contribute substantially towards growth of market over the forecast period, owing to the presence of numerous service, software and GPU vendors. Several companies in the region are launching new 3D software suites.
Companies like Trimble Inc., Adobe Inc., Autodesk Inc., and Nvidia Corporation are holding a major share in the 3D rendering market business landscape. These firms are focusing on expanding their market position through new product developments and advanced technological solutions. In 2019, Adobe announced release of Dimension, a tool used by designers for creating 3D scenes and objects as well as helping develop higher quality images in less time.
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