3D Rendering Market Size By Component (Software (On-premise, Cloud) Service), By Organization Size (Large Enterprise, SME), By Application (Product Design & Modeling, Animation, Visualization & Simulation), By End-use (Architecture, Engineering & Construction (AEC), Automotive, Gaming, Healthcare, Manufacturing, Media & Entertainment) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

3D Rendering Market size estimated at over USD 1.5 billion in 2018 and is forecast to witness 20% growth between 2019 and 2025.
 

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The 3D rendering market demand is driven by its increasing adoption among the industry players for marketing applications. The biggest challenge marketers face when advertising hardware products is communicating its value, functionality, and differentiators of products to the masses. The challenge is even severe for startups and smaller companies as they operate with limited marketing budgets. In the current market, consumers have a wide variety of choices to opt from. As a result, marketing agencies are adopting various innovative products and promotional approaches to engage customers. With the use of 3D rendering services, product visuals are enhanced in a manner such that physical features and value propositions are well represented.
 

The increasing adoption of 3D rendering among the construction & real-estate sector also acts as a major force propelling market growth. Companies are leveraging on 3D rendering & visualization technology to prepare an attractive model of their projects for promotional and marketing activities. The software enables companies to create 2D models that have photorealistic lightings, textures, and provide supplementary effects to buildings and landscapes. This allows companies in the real estate & construction arena to enable their customers and stakeholders to visualize the interiors and exteriors of buildings in an appealing manner.
 

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Market by Component

The 3D rendering software market is dominating the industry share of over 75% revenue-wise in 2018. The market growth is attributed to technological advancements in the 3D rendering space. As the competition in the market is fueling, software vendors have started focusing more on enhancing their product capabilities and integrate more features into the product. The integration of Virtual Reality (VR) is one of the prominent examples of advancements in software. Moreover, the companies have also started to work on providing 3D rendering as a service and real-time rendering to their customers, further augmenting the demand for 3D rendering software.
 

The 3D rendering service market will grow at a CAGR of 27% over the projected timeline. The market is driven by the increasing trend of outsourcing and 3D rendering requirement among SMEs. 3D rendering is a very complex process and requires highly skilled professionals as well as capital investment. Therefore, the SMEs outsource their 3D rendering requirement to third-party service providers to delegate the risk of in-housing rendering facility and concentrate on core business activities.
 

Market by Organization Size

Large enterprises account for more than 60% share in the 3D rendering market. Large organizations, particularly in the manufacturing, media & entertainment, and automotive industries are extensively utilizing 3D rendering to produce images of the objects. This enables them to create realistic pictures and design prototypes, saving their time and minimizing expenses. Organizations are utilizing 3D rendering for better resource management while building projects. For instance, in the construction sector, software is mostly used by architects or designers of the organizations to develop a 3D model of the construction site, allowing them to get a detailed description of every element of the project.
 

The SMEs organization will attain a CAGR of 24% over the forecast period. The market revenue is driven by the increasing adoption of 3D rendering services. SMEs which do not have frequent rendering needs, outsource their rendering requirement to third-party service providers, eliminating the need for capital requirement for deploying 3D rendering software and human resources.
 

Market by Application

Visualization & simulation is leading the 3D rendering market application landscape with a share of more than 40% in 2018. 3D rendering solutions are widely used by organizations for visualization and simulation purposes. These solutions allow users to convert real-world models into a discrete computational presentation where the whole process involves complex numerical algorithms. To achieve high-performance on new architectures, it becomes important to use 3D rendering service with high-end computing capabilities that provide faster and better results. 3D rendering service is expected to witness an increase in the usage in industries, particularly in the manufacturing and automotive industries to create, simulate, and visualize products digitally.
 

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Animation accounts for more than 30% share in the 3D rendering market owing to the usage of this technology by the media & entertainment industry and game developers to render high-definition 3D animations and graphics into a 2D model or visual. Media & entertainment companies use 3D modeling services for the purpose of generating applications such as video games, movies, architecture, and illustration. Several companies present in the market are offering 3D modeling services for developing rendered images that span today’s demanding media & entertainment industry. For instance, Autodesk offers 3D animation software including MAYA, 3DS MAX, MOTIONBUILDER, and ARNOLD for games and design visualization. Designers are utilizing animation tools in conjunction with 3D rendering software to create fully realized 3D environments and images.
 

Market by End-Use

The Architecture, Engineering & Construction (AEC) sector holds more than 42% stake in the 3D rendering market. 3D rendering plays an important role in architecture, engineering, and construction industries as it enables them to experiment with building designs and visual aspects. 3D rendered image delivers an immersive experience to prospective buyers that completely stimulates residing in finished products and provides a buyer with the necessary information to make informed decisions about the product.
 

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The gaming sector will grow at a CAGR of more than 20% over the forecast period. The rapid growth of the gaming industry is due to high internet connectivity, smartphone usage, and the growing popularity of virtual reality to bring immersive experiences to users, increasing the demand for 3D rendering market. 3D modeling is becoming an important part of gaming applications as artists can use real-time 3D rendering to improve graphics, make props, and locate looks as realistic as possible. Moreover, the rapidly growing gaming industry, particularly mobile gaming and free-to-play multiplayer gaming is expected to drive the market value.
 

Market by Region

North America is the dominant region in the 3D rendering market with a share of over 38% in 2018. The growth of the market is credited to the rise in the uptake of real estate & construction projects and the demand for 3D rendering solutions in the country is expected to increase over the forecast timeline. The country is witnessing an increase in the adoption of advanced technological platforms in the construction industry, such as project management, aerial photography, and building information modeling, to make it easy for designers and architects to better visualize architectural drawings. Moreover, the rapidly growing media & entertainment industry in the region also contributes significantly to market revenue.
 

Europe holds more than 30% share in the 3D rendering industry. The European Commission supports 3D technology as one of the pillars to strengthen its automotive manufacturing sector. Europe is currently exploring opportunities for durable sources of economic growth. In the context of emerging megatrends, regulatory authorities have identified 3D technology as one of the technologies that could contribute the most to the industrial rejuvenation in the region.
 

Competitive Market Share

The key vendors operating in the 3D rendering market are Adobe, Act-3D, Autodesk, Blender, BluEntCAD, Chaos Software, Christie Digital Systems, Coral Corporation, Dassault Systems, Easy Render, Foundry Visionmongers, Keyshot, MAP Systems, Maxon, Next Limit Technologies, NVIDIA Corporation, Pixologic, SideFX, Tesla Outsourcing Services, Trimble, Unity Technologies, V Render, Xpress Rendering, and XR3D Studios. The market is characterized by the presence of both multinational companies and regional players. The multinational players are leveraging on merger & acquisition activities to acquire technical expertise and to gain market share. For instance, in 2016, Dassault System acquired the Next Limit Dynamics division of Next Limit Technologies to strengthen its position in the market. Whereas, regional players are leveraging on organic growth strategies to gain market size. The companies are focusing on R&D activities to enhance their capabilities to integrate more advanced features into the product.
 

Industry Background

Over the past three decades, 3D technology has evolved to provide designers, artists, and architects with tools necessary to work seamlessly on various complicated models and intricate designs. The technology has evolved beyond the level of artistic tools into a powerful tool used across various industry verticals to understand the inner workings of natural and man-made structures. The rapid advancement in technology has resulted in the development of numerous new avenues for the application of 3D rendering. The market players have also started exploring new applications in 3D rendering for several industry verticals, which were not feasible before.