13 Nov 2018: The global Visualization and 3D Rendering Software Market crossed USD 952.4 million in 2016. Driving factors to the market growth include rising need for state-of-the-art technologies and inception of user-friendly renderer interface. In addition growing demand for virtual models and artefacts for presentation primarily drive the visualization and 3D rendering software industry. The market is further stimulated with the growing demand for high-level imaging. However, market restraints such as lack of IT infrastructure in the under developed nations are likely to restrict the market growth in the forthcoming period. Overall, the visualization and 3D rendering software market progresses at a CAGR of 22.5% during the forecast period.
With the rise in technological advances in hardware and data volumes pertaining to measurement and computing, the evolution seems to be much rapid; data being an intermediate carrier of information needs visualization for proper intellectual interpretation to understand scenarios thoroughly. Visualization is therefore a transformational process for different forms of information blocks to represent it in a visual manner that allows humans to determine the states, structure, and behaviour. Visualizing data scattered in 3D space enables humans to deploy their evolutionary advanced competences to distinguish among structures at certain locations or visualize spatial transitions. Commercially, engineering principles emphasize on products that are characterized by their shape such as buildings, cars, bridges, and satellites. In addition, their mode of operation and function is of high significance. While the visual appearance of these objects is directly visualized, the properties and behaviour need to be mapped into a visual array that is easily interpreted and understood.
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The visualization and 3D rendering software industry is segregated into application, end-user, and deployment. Deployment category is further bifurcated into premise deployment and cloud deployment. Geographical segmentation for visualization and 3D rendering software market spans North America, Latin America, Europe, Asia-Pacific, Middle East and Africa.
North America accounts for a major share in the market due to extensive use of visualization and & 3D rendering software. In addition, presence of 3D rendering companies is likely to add to the growth of North America market. Asia-Pacific’s visualization and 3D rendering software industry is expected to register a momentous growth in the forecast period due to extensive use of 3D software and cloud based solutions.
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Rise in media, entertainment, and gaming industry is likely to propel the market growth. Middle Eastern and African market is likely to gain moderate CAGR in the forthcoming period due to rise in construction activities.
The key players in the visualization and 3D rendering software market include Autodesk, Inc.; DassaultSystemes; Trimble, Inc.; Corel Corporation; Adobe Systems Incorporated; The Foundry Visionmongers Ltd.; Chaos Software; and Luxion, Inc.
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