Saturday, 27 July 2024
According to our latest market study on "Visualization and 3D Rendering Software Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Application, Deployment, and End User," the market is expected to grow from US$ 2.69 billion in 2022 to US$ 11.83 billion by 2030; it is estimated to register a CAGR of 20.3% from 2022 to 2030.
Virtual reality (VR) is gaining significant traction globally. The use of VR in the production and design of 3D animation has significantly increased the interactivity of 3D animation. VR technologies have developed considerably due to advancements in computer technology and societal requirements. The introduction of virtual reality might enhance the global 3D animation software industry. On the other hand, increased interest in viewing animated movies in virtual reality is expected to set the tone for the market's lucrative expansion. Furthermore, the adoption of VR technology is growing in various industries such as gaming, advertising, and home entertainment. Animators are using VR technology to produce similar effects. Players in the 3D animation market are seeing a rise in the demand for 3D visualization due to increased work on more complicated animations and creating more engaging virtual environments. Both visual effects and virtual reality are primarily concerned with developing a new environment that may astonish spectators. For instance, in September 2022, Shanghai Disney Resort introduced an immersive virtual reality (VR) experience at its Disney town entertainment, dining, and shopping center. The increased popularity of VR in entertainment is expected to provide opportunities for visualization and 3D rendering software market growth.
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Source: The Insight Partners Analysis
Studios are increasing their tools for creating virtual production—a significant VR asset—using real-time graphics, motion capture, facial capture, and camera tracking techniques. VR is increasingly becoming important to most visual effects firms. For instance, Framestore Studios collaborated with HBO to launch "Ascend the Wall, a VR project based on the TV show "Game of Thrones." As virtual reality technology advances, more user-friendly interfaces are expected in the near future. Their applications are likely to become more common and be of higher quality. VR and other extended reality (XR) technologies are expected to undoubtedly make significant advances in animation during the next couple of years. Thus, the emergence of virtual reality technology opens new prospects in the 3D animation business, fueling the growth of the visualization and 3D rendering software market.
Autodesk Inc, Christie Digital Systems Inc, Dassault Systemes SE, NVIDIA Corp, Chaos Group, Luxion Inc, OTOY Inc, Next Limit, Act-3D, and Thea Render by Altair are among the key visualization and 3D rendering software market players profiled in the report. Several other major visualization and 3D rendering software market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The visualization and 3D rendering software market report provides detailed market insights, which help the key players strategize their growth.
The UK is one of the world's largest exporters of goods. Some of the prominent manufacturing industries of the country include food & beverages, aerospace, plastics, and high-tech manufacturing. The growth in the construction sector, paired with technological developments, has driven the visualization and 3D rendering software market growth in the region. Currently, the UK has by far the strongest ecosystem of AI technologies, which is expected to influence numerous products and infrastructural structures. Further, various companies in the UK, such as ArchiCGI and CUUB Studio, provide AI-based 3D rendering software in the country, which will generate the demand for solutions that would not only help design the advanced prodigy of products, manufacturing processes, and building architectures but also enable futuristic visualization of their step-by-step development. The country has appeared as an innovation leader in the manufacturing industry, thus propelling the implementation of designing tools, including visualization and 3D rendering. The above-mentioned factors are propelling the growth of the visualization and 3D rendering software market in the UK.
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