The Visualization and 3D Rendering Software Market size is expected to grow from USD 1.06 billion in 2017 to USD 2.92 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.40% during the forecast period, as per a report by MarketsandMarkets.
Why growth of high definition 3D viewing experience is an opportunity?
After the evolution of the 3D technology, developments can be witnessed in terms of enhancing the content quality and improving the user-viewing experiences. The availability of 3D technology now has started providing High Definition (HD) content to enhance their customers’ viewing experience through advanced 3D enabled devices such as 3D display units and VR devices. HD 3D experience helps in acquiring better customer engagement. It provides more visual information in the same time span in terms of reality, capturing attention, and increased emotional response. This improvement in user viewing experience would help various companies to examine their products in detail so that they can make further enhancements thereby making them more likable.
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3D technology has been widely used in media and entertainment, architectural and construction, and manufacturing industries. These industries find 3D technology as more engaging as compared to other technology.
How lack of availability of 3D content presents a challenge?
The major challenge among companies while adopting 3D rendering solutions is the lack of availability of 3D content. Visualization and 3D rendering software require unique 3D content for developing the photorealistic visuals. Developing the 3D content involves huge development cost and technical capabilities due to which very few companies involve developing 3D content that is why there is a scarcity of 3D content used for 3D animation and application.
The 3D content technology is growing due to its increasing usage in various industrial sectors such as media and entertainment. This challenge can be overcome by reducing the price of 3D content solutions and providing knowledge to the top management of companies, regarding its usage and requirement of 3D technologies.
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Major vendors in the visualization and 3D rendering market include Autodesk, Inc (California, US), Siemens AG (Munich, Germany), Adobe Systems (California, US), Dassault Systèmes (Vélizy-Villacoublay, France), NVIDIA Corporation (California, US), Trimble, Inc (California, US), Next Limit Technologies (Madrid, Spain), Corel Corporation (Ottawa, Canada), SAP SE (Walldorf, Germany), Chaos group (Sofia, Bulgaria), The Foundry Visionmongers Ltd (London, UK), NewTek, Inc (Texas, US), Render Legion S.R.O. (Prague, Czech Republic), Luxion, Inc (California, US), and Cristie Digital Systems (California, US).
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