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ALBANY, New York, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Transparency Market Research have published a new market research report about the global visualization and 3D rendering software market. As per the research report, the global market is expected to grow with a whopping CAGR of 24.3% over the course of the given forecast period of 2017 to 2025. With such high rate of growth, the valuation of the global visualization and 3D rendering market is expected to reach worth US$4,068.8 mn by the end of 2025. This is a huge growth compared to the initial market valuation of US$577.4 mn reported back in 2016.
The research report says that the global visualization and 3D rendering software market has a highly consolidated competitive landscape. There are three leading companies that are dominating the market and account for around 80% of the overall revenue generated in the global market since 2016. These three leading companies are NVIDIA Corporation, Dassault Systems, and Autodesk Inc. These companies have bolstered their visualization and 3D rendering software market positions with the help consistent product innovations, competitive pricing, and providing high-end solutions and forming strategic partnerships with an objective of bolstering their existing product portfolios.
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Product Innovation is Key for Visualization And 3D Rendering Software Players to Generate Revenue
The global visualization and 3D rendering software market currently is witnessing a huge demand for customized services and solutions. Hence, the companies are inclined towards providing highly innovating solutions or the introducing updated or more advanced versions of the existing popular products with a host of new features. It is also helping the players to further strengthen their brand value, attract newer customers, and generate higher revenue in the market. One such instance was in February 2017. NVIDIA Corporation then announced the launch of GameWorks DX12. The company said the newly released software had advanced real-time rendering and simulation technologies. Launch of such updates and solutions have allowed the leading companies in the global visualization and 3D rending software market to generate better returns in the visualization and 3D rendering software market.
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From a deployment type perspective, the segment of on premise currently holds the leading position in the global market for visualization and 3D rendering software. This segment accounted for a huge 66% of the overall revenue achieved from the sales of services in the international visualization and 3D rendering software market in 2016. However, it is expected that the segment of cloud medium for the deployment of the visualization and 3D rendering software will show a maximum growth potential over the course of the given forecast period. This growth is due to the increasing popularity of cloud medium and rising rate of adoption across the globe.
Asia Pacific to Show High Rate of Growth in the Visualization and 3D Rendering Software Market
From a geographical point of view, the global visualization and 3D rendering software is segmented into key regions as Europe, North America, Asia Pacific, South America, and the Middle East and Africa. Of these, the global market is dominated by the North America and Europe. The market earns huge portion of its overall revenue due to the sales across these key regions. When put together, the combined revenue of the North America and Europe market accounted for more than 62% of the overall share of the global visualization and 3D rendering software market.
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Asia Pacific is also expected to show high rate of growth during the course of the given forecast period of 2017 to 2025. This high rate of growth is primarily driven by the increasing demand from the construction and numerous other sectors.
This review of the global visualization and 3D rendering software market is based on a recent market research report published by Transparency Market Research, titled “Visualization and 3D Rendering Software Market (Deployment Type - On Premise and Cloud; End-use Verticals - Manufacturing, Construction, Media and Entertainment, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
For the study, the global visualization and 3D rendering software market has been segmented as follows:
End-use Industry Vertical
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