3D Rendering Market Size

3D Rendering Market Size

3D Rendering Market size surpassed USD 3 billion in 2022 and is projected to expand at more than 20% CAGR from 2023 to 2032, driven by the soaring demand for building information modeling (BIM) across the construction industry.

The surging uptake of 3D rendering in product marketing applications is fueling the industry growth. Marketing professionals use 3D rendering to demonstrate the features of their products in a variety of simulated surroundings and various perspectives. An upsurge in the number of social media platforms and online purchasing trends, companies tend to create 3D images for better customer experience and offer promising non-physical prototypes with endless variations to enhance product visibility and attraction. Moreover, rendering helps in cutting marketing costs in varied settings, which is boosting product adoption.

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Increasing use of unlicensed software may hinder industry progression

A key factor restraining the 3D rendering market growth is software piracy. Software developers experienced financial losses and a drop in profitability as a result of software piracy issues. In June 2022, the Software Alliance (BSA), a trade group of Microsoft, reported a total of USD 150,000 unlicensed software installations, including V-Ray, for computer graphics in big tech companies. The group warned that businesses use unlicensed technology to give access to remote workers, which is impeding product reliance. Nonetheless, rigorous R&D initiatives to address these difficulties are set to enable firms to overcome these issues.