(MENAFN- GlobeNewsWire - Nasdaq) Pune, India., Sept. 15, 2023 (GLOBE NEWSWIRE) -- Film and gaming industries have become dependent on computer-generated images for a realistic experience. Animation and movies are one of the significant applications of 3D designing tools. For long, 3D designing tools have been widely used in animation and movies. However, the growing trend of the sci-fi genre worldwide has resulted in the rising adoption of 3D designing tools. The content creation industry, small production houses, and individual professionals utilize 3D designing tools at a broader level. Meanwhile, the growing deployment of animated advertisement content by small and medium businesses worldwide is also propelling the Visualization and 3D Rendering Software market growth.

Visualization and 3D Rendering Software Market in terms of revenue was estimated to be worth $2.69 billion in 2022 and is poised to reach $11.83 billion by 2030, growing at a CAGR of 20.3% from 2022 to 2030 according to a new report published by The Insight Partners.

The growth of the visualization and 3d rendering software market is driven by rise in construction and infrastructure developments, increase in demand for realistic visuals, growth in need for faster and efficient solutions and surge in demand for gaming and videography.

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Browse Comprehensive TOC on "Visualization and 3D Rendering Software Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Application (Training Simulation, Marketing and Advertisement, Video Games, Product Visualization, and Architectural Visualization), Deployment (On-Premise and Cloud), End User (Media and Entertainment, Architecture and Construction, Design and Engineering, Healthcare, and Others), and Geography"

Global Visualization and 3D Rendering Software Market Scope:

Report Coverage	Details
Market Size Value in	USD 2.69 Billion in 2022
Market Size Value by	USD 11.83 Billion by 2030
Growth rate	CAGR of 20.3% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022
Segments covered	Application, Deployment, End User, and Geography
Regional scope	North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.
Country scope	Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Report coverage	Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

With the rise in digitalization, increased accessibility, and user-friendliness of newer gaming technologies have driven the gaming industry, 3D modeling has revolutionized it. According to the European Gaming and Betting Association (EGBA) data, e-sports gaming revenues in Europe reached US$ 0.1 billion in 2021. In November 2022, the German Games Industry Association invested US$ 20.0 million in the development of the German gaming sector. Almost every high-end game deploys 3D or uses 3D assets. Games have become more realistic and enticing through 3D rendering technology.

In order to indulge a gamer entirely in the virtual world, the scenes, props, and people should seem realistic. 3D rendering software helps in improving graphics. Initially, 3D rendering tools were widely used by game developers to develop PC and console games. However, due to the incremental advancement in processing capacities of mobile microprocessors, developers are using 3D designing tools in the mobile gaming industry. Moreover, increasing affordability of smartphones and growing penetration of inteservices worldwide have subsequently flourished the mobile gaming industry. Further, the COVID-19 pandemic propelled the gaming industry substantially as gaming giants, such as Electronic Arts and Activision Blizzard, announced higher year-on-year revenues and greater market penetration than ever before.

Germany Dominates Global Visualization and 3D Rendering Software Market in Europe:
Manufacturing is one of the prominent sectors aiding the country's economy, as 18 out of 33 globally operating machinery and equipment sectors comprise leading German manufacturing plants and machinery. The nation is highly industrialized, and the economically leading industries include chemical, automotive, and electronics. Also, Germany has the continent's largest building stock and the continent's leading construction market. A number of factors have contributed to a surge in German building investment, which is projected to continue in the near future. The construction industry's extensive usage of 3D visualization software is fueling market expansion. Meanwhile, robust healthcare and public infrastructure is also one of the factors driving the Visualization and 3D Rendering Software market growth in the region.

The firms in Germany majorly foon product development strategies, along with inorganic growth tactics, to strengthen their market position. In August 2022, Chaos Software, an image rendering services company, launched V-Ray 6 for Maya, a new version with procedural clouds, enmesh for repeating geometry, and next-generation render analytics features. Such innovations are intended to aid the company in improving its business reach and staying ahead in the competitive landscape.

Global Visualization and 3D Rendering Software Market: Segmental Overview
Based on application, the visualization and 3D rendering software market is segmented into Training Simulation, Marketing and Advertisement, Video Games, Product Visualization and Architectural Visualization. The marketing and advertisement segment held the largest share of the visualization and 3D rendering software market in 2022 and is anticipated to register the highest CAGR in the market during 2022–2030. Based on deployment, the visualization and 3D rendering software market is segmented into On-Premise and Cloud. The on-premise control system segment held a larger share of the visualization and 3D rendering software market in 2022. The cloud segment is anticipated to register a higher CAGR in the market during 2022–2030. Based on end user, the visualization and 3D rendering software market is segmented into Media and Entertainment, Architecture and Construction, Design and Engineering, Healthcare, and Others. The architecture and construction segment held the largest share of the visualization and 3D rendering software market in 2022. The healthcare segment anticipated to register the highest CAGR in the market during 2022–2030.

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Global Visualization and 3D Rendering Software Market: Competitive Landscape
Autodesk Inc, Christie Digital Systems Inc, Dassault Systemes SE, NVIDIA Corp, Chaos Group, Luxion Inc, OTOY Inc, Next Limit, Act-3D, and Thea Render by Altair are among the key visualization and 3D rendering software market players that are profiled in the report, which help in global traffic management. Several other essential visualization and 3D rendering software market players were analyzed for a holistic view of the market and its ecosystem. The visualization and 3D rendering software market report provides detailed market insights, which can help major players strategize their growth.

Global Visualization and 3D Rendering Software Market - Key Industry Dynamics:

Drivers:

• Increase in Need for Faster and Efficient Solutions
• Surge in Demand for Gaming and Videography
• Rise in Construction and Infrastructure Developments
• Increase in Demand for Realistic Visuals

Restraints:

• Lack of Skilled Workforce and Supporting Infrastructure in Developing Countries

Opportunities:

• Proliferation of Virtual Reality (VR)
• Rapid Expansion in Manufacturing Industry and Need for Prototyping
• Increased Use of Visualization and 3D Rendering Software in Medical and Scientific Research

Future Trends:

• Emergence of Factory Automation
• Rise in Adoption of Cloud-based Technologies

Recent Developments:

• In 2023: Luxion, developer of advanced 3D rendering and lighting technology, launched KeyShot 2023.2. It brings workflow improvements and feature updates. It can be interactive with 360-degree images from KeyShotXR and share them in Web Viewer.
• In 2023: Chaos released V-Ray 6 for Houdini, update 1 to surpass artistic limitations and bring your ideas to life. The latest update can transfer USD data between applications without manual conversions and enjoy accelerated rendering.

Go through further research published by The Insight Partners:

3D Rendering Services Market - Global Analysis and Forecast to 2030

3D Animation Software Market - Global Analysis and Forecast to 2030

CAD Software Market - Global Analysis and Forecast to 2030

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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