Surge in demand for virtual modeling and building design and the rise in demand for architecture planning for smart cities drive the growth of the market.

PORTLAND, OREGON, UNITED STATES, August 9, 2021 /EINPresswire.com/ -- According to Allied Market Research, the global visualization and 3D rendering software market was pegged at $1.48 billion in 2019 and is projected to reach $7.96 billion by 2027, growing at a CAGR of 23.1% from 2020 to 2027. 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 underdeveloped nations, and privacy issues hamper the market growth. On the contrary, increase in adoption of cloud-based 3D rendering services and surge in demand for high-level gaming and videography would open lucrative opportunities for the market players in the future.

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The Objective of the “visualization and 3D rendering software Market” report is to depict the trends and upcoming for the visualization and 3D rendering software market industry over the forecast years. visualization and 3D rendering software Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in innovation.

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Impact of COVID-19 on Visualization and 3D Rendering Software Market:

• Owing to the COVID-19 outbreak, the market witnessed a sudden downfall with strict lockdown measurements imposed by several governments and a shutdown of travel to prevent transmission of the virus.
• To prevent the spread of infection, real estate companies temporarily closed their construction activities, which hampered the demand for 3D rendering software.
• However, the demand is expected to increased post-pandemic as construction activities would resume.

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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.

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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Major market players

• Autodesk, Inc.
• Act-3D
• Altair Engineering, Inc.
• Dassault Systemes
• Cebas Visual Technology Inc.
• Corel Corporation
• Embodee
• NVIDIA Corporation
• Luxion Inc.
• Next Limit Technologies
• OTOY Inc.
• SAP SE
• Robert McNeel & Associates
• Siemens AG
• Webmax Technologies

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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