Portland, OR, Oct. 06, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global visualization & 3D rendering software market was estimated at $747 million in 2016 and is expected to hit at $2.90 billion by 2023, registering a CAGR of 21.7% from 2017 to 2023. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Surge in demand for virtual modeling, and increasing penetration of cloud computing have driven the growth of the global visualization & 3D rendering software market. On the other hand, lack of proper IT infrastructure and less demand for 3D rendering software in underdeveloped nations impede the growth to certain extent. However, rise in demand for high definition gaming & videography and growing adoption of simulation-based research & learning are expected to usher in a plethora of opportunities in the market.
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The stand-alone segment to maintain its dominance during the forecast period-
Based on type, the stand-alone segment contributed to more than three-fifths of the total market share in 2016, and is expected to rule the roost by the end of 2023. The plugin segment, on the other hand, would grow at the fastest CAGR of 22.5% during 2017–2023.
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The on-premise segment to lead the trail through 2017–2023-
Based on deployment model, the on-premise segment held the highest share in 2016, generating two-thirds of the total market. Simultaneously, the cloud segment would showcase the fastest CAGR of 22.6% throughout the forecast period.
North America generated the highest share in 2016-
Based on geography, North America accounted for nearly two-fifths of the global market revenue in 2016, and is projected to dominate till 2026. At the same time, Europe would cite the fastest CAGR of 22.7% by 2023.
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Key players in the industry-
The key market players analyzed in the market report include Act-3D B.V., Autodesk, Inc., Webmax Technologies, Siemens AG, Embodee Corp., SAP SE, Otoy Inc., Sphere 3D, 3D Virtualization, and Luxion Inc. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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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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