Surge in demand for virtual modeling and building design and rise in demand for architecture planning for smart cities drive the growth of the global Visualization and 3D Rendering Software Market. Moreover, increase in demand for real-time rendering and quick decision-making capabilities supplemented the growth of the market. However, lack of IT infrastructure, less demand in the underdeveloped nations, and privacy issues hamper the market growth.
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By product type, the stand-alone segment held the largest share in 2019, accounting for nearly two-thirds of the global visualization and 3D rendering software market. This is due to rise in adoption of stand-alone software among various industries to enable extensive implementation and output generation from input data.
However, the plugin segment is expected to register the highest CAGR of 24.0% during the forecast period, owing to increase in demand for faster software installation and product development process.
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By application, the research & training segment is projected to portray the highest CAGR of 25.6% during the forecast period, owing to rise in demand for planning and execution of detailed visual representation of several research objects such as instruments, internal body organs, and micro particles.
However, the architectural & visualization segment held the lion’s share in 2019, contributing to more than one-third of the global visualization and 3D rendering software market. This is due to rise in adoption of this software in construction and real estate industries for visualization of their projects to their customers to increase profits and enhance market value.
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By region, the market across North America held the largest share in 2019, accounting for more than one-third of the market. This is due to rise in demand for advanced 3D imaging tools among the North American countries and increase in adoption of visualization & 3D rendering software among different industries.
However, the global visualization and 3D rendering software market across Asia-Pacific is expected to register the highest CAGR of 24.5% from 2020 to 2027, due to rise in demand for high-definition 3D viewing experience among the end-users, increase in construction activities, and rise in spending on different real estate projects in developing nations of the region.
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Key Findings of the Study –
• By deployment model, the on-premise segment accounted for the visualization and 3D rendering software market share in 2019.
• Region wise, North America generated the highest revenue in 2019.
• Depending on type, the stand-alone segment accounted for the visualization and 3D rendering software market share in 2019.
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