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Visualization and 3D Rendering Software Market

Surge in demand for real-time rendering and faster decision-making capabilities positively impacts growth of the market.

PORTLAND , PORTLAND, OR, UNITED STATE, July 26, 2022 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global visualization & 3D rendering software market was estimated at $747 million in 2016 and is expected to hit at $2.90 billion by 2023, registering a CAGR of 21.7% from 2017 to 2023.

Surge in demand for virtual modeling, and increasing penetration of cloud computing have driven the growth of the global visualization & 3D rendering software market. On the other hand, lack of proper IT infrastructure and less demand for 3D rendering software in underdeveloped nations impede the growth to certain extent.

However, rise in demand for high definition gaming & videography and growing adoption of simulation-based research & learning are expected to usher in a plethora of opportunities in the market.

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Impact of COVID-19 on Visualization and 3D Rendering Software Market:

• Owing to the COVID-19 outbreak, the market witnessed a sudden downfall with strict lockdown measurement imposed by several governments and shutdown of travel to prevent transmission of the virus.

• To prevent the spread of infection, real estate companies temporarily closed their construction activities, which hampered the demand for 3D rendering software.

• However, the demand is expected to increased post-pandemic as construction activities would resume.

By product type, the stand-alone segment held the largest share in 2019, accounting for nearly two-thirds of the global visualization and 3D rendering software market. This is due to rise in adoption of stand-alone software among various industries to enable extensive implementation and output generation from input data. However, the plugin segment is expected to register the highest CAGR of 24.0% during the forecast period, owing to increase in demand for faster software installation and product development process.

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By application, the research & training segment is projected to portray the highest CAGR of 25.6% during the forecast period, owing to rise in demand for planning and execution of detailed visual representation of several research objects such as instruments, internal body organs, and microparticles.

However, the architectural & visualization segment held the lion's share in 2019, contributing to more than one-third of the global visualization and 3D rendering software market. This is due to rise in adoption of this software in construction and real estate industries for visualization of their projects to their customers to increase profits and enhance market value.

By region, the market across North America held the largest share in 2019, accounting for more than one-third of the market. This is due to rise in demand for advanced 3D imaging tools among the North American countries and increase in adoption of visualization & 3D rendering software among different industries.

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However, the global visualization and 3D rendering software market across Asia-Pacific is expected to register the highest CAGR of 24.5% from 2020 to 2027, due to rise in demand for high-definition 3D viewing experience among the end-users, increase in construction activities, and rise in spending on different real estate projects in developing nations of the region.

• The study provides an in-depth analysis of global visualization and 3D rendering software market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.

• Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.

• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

• The quantitative analysis of the visualization and 3D rendering software market share from 2020 to 2027 is provided to determine the market potential.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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