The global visualization & 3D rendering software market accounted to US$ 1,321 Mn in 2017 and is expected to grow at a CAGR of 20.9% during the forecast period 2018-2025, to account to US$ 5,978.2 Mn by 2025.
An increasing need for faster and efficient solutions, surging demand for gaming & videography and growing construction & infrastructure developments are the key factors driving the global visualization & 3D rendering software market. Also, the Asia-Pacific region is anticipated to provide numerous profitable opportunities for the market players operating in the visualization & 3D rendering software market in the coming years. The region comprises of a broad geographical footprint that embeds significant growth of industrial as well as technological sectors.
Exhibit: Visualization & 3D Rendering Software Regional Markets
On-premise is the leading segment in deployment type
The deployment type of visualization and 3D rendering software market includes cloud and on-premise. In the year 2017, on-premise held the largest share of visualization and 3D rendering software market. This is due to the reason that many of the companies don't prefer giving their personal data to other organizations for the digital transformation. Also, data of some of the industry verticals such as government and public sector organizations, and BFSI is highly secured and can't be transferred to any of the outer organizations. Therefore, these industry verticals opt for on-premise visualization and 3D rendering in which the software and hardware are implemented in the organization and everything is observed and governed under the client organization.
North America region denotes the highest adoption of visualization and 3D rendering
Currently, North America is dominating the global visualization and 3D rendering software market in terms of adoption. This is due to the reason that the region is highly advanced in terms of technology as well as the economy. Also, the region is one of the early adopters of new technology in any market. Therefore, the visualization and 3D rendering software has already been adopted by most of the industry verticals in the region and is still increasing with the increase in the number of companies in the region in different verticals.
North America is the key contributor to revenue in the visualization and 3D rendering software market in comparison to other regions. Further, The U.S. dominates the North American visualization and 3D rendering software market.
U.S. denotes a technologically advanced ecosystem with many players operating in the visualization and 3D rendering software market. This has aided in fueling the demand for visualization and 3D rendering software. Further, the increasing private funding in the construction sector and the support from the government for infrastructural investments has driven growth in the U.S market.
Exhibit: Visualization and 3D Rendering Software Market by End User