Increase in requirement for virtualized & real-time experience in designing and planning along with rise in demand for real-time rendering and rapid decision-making capabilities drive the growth of the global 3D rendering services market.
However, lack of skilled professionals and security & privacy concerns hinder the market growth. On the other hand, surge in implementation of cloud-based 3D rendering services offer numerous opportunities in coming years.
As per the report published by Allied Market Research, the global 3D rendering service market accounted for $8.56 billion in 2018, and is projected to reach $61.65 billion by 2026, growing at a CAGR of 28.1% from 2019 to 2026. The report offers a detailed analysis of value chain, market dynamics, top winning strategies, key segments, business performance, and competitive landscape.
Based on project type, the residential segment is expected to grow at the highest CAGR of 29.1% from 2019 to 2026. This is attributed to rise in real-time rendering to acquire photorealistic results of the building and increase in demand for quality 3D images.
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However, the commercial segment held the largest market share in 2018, accounting for more than two-thirds of the global 3D rendering services market, and is expected to maintain its leadership status during the forecast period.
On the basis of project type, the market is divided into commercial project and residential projects. The commercial segment dominated the market in 2018, contributing to more than two-thirds of the market. However, the residential segment is projected to manifest the fastest CAGR of 29.1% during the forecast period.
The global 3D rendering service market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across the Asia-Pacific region is projected to portray the highest CAGR of 30.1% during the study period. However, the market across North America held the largest share in 2018, contributing to nearly two-fifths of the market.
The global 3D rendering service market report includes an in-depth analysis of the major market players such as RealSpace Vision Communication Inc., Professional 3D Services, Flatworld Solutions Pvt. Ltd., Rayvat Rendering, CG Studio, Mapsystems, 3D Animation Services, WinBizSolutions, XpressRendering, and Tesla Outsourcing Services.
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