3D Rendering market is one of the fastest-growing markets today. Projections tell us that it is expected to achieve amazing growth by 2025. Let’s take a look at the numbers and the implications of the North American 3D rendering market growth.
The North American 3D rendering market is very responsive to the changes in multiple verticals. The most common customers interested in 3D rendering and visualizations services are designers, architects, film producers, and engineers.
These four professions belong to very large industries, and the demand for 3D rendering services has spiked the growth of the 3D rendering market in North America.
Reports from both Grand View Research Inc. and GMI Insights, forecast North America to hold a dominant share in 3D rendering and visualization services market by 2025. Both these reports highlight the key dynamics of the global 3D rendering sector and its geo segments.
There are multiple factors that have contributed to this growth. But before we dive into them, let’s take a look at some numbers.
Market Size and Growth
The forecast period research agencies were interested in is the one between 2018 and 2025. By applying advanced statistical analysis, Grand View Research Inc. has come to a remarkable discovery.
In fact, the 3D rendering and visualization market is expected to grow to approximately $5.63 billion by 2025. During these 7 years, the market will keep on progressing at a Compound Annual Growth Rate (CAGR) of an incredible 22.5%.
What could be the reasons for this? What exactly has stimulated this growth? In the past few years, we have witnessed remarkable developments in this market. All these turned out to be very beneficial for the 3D rendering and visualization market growth in North America. Let’s quickly go through the most important of these factors.
The acceptance of visualization and 3D rendering services is closely tied to internet connectivity. In the past year, we have gone through a rapid Internet expansion, in terms of both cable and WiFi. This has set 3D rendering companies on the course to success, at the same time expanding the market beyond the limits set by connectivity. For instance, 3D artists can now find clients abroad, cooperate with them, maintain open communication, and provide deliverables. And all of this thanks to the improved connectivity.
Connectivity affects the 3D rendering market in another way as well. Many USA-based 3D rendering companies offer their services online today. Clients are growing more aware of this fact, and this even further spikes the demand and expands the market.
This also ensures the continuity of demand because 3D rendering artists and companies no longer depend solely on local clients.
Cutting-edge and Cost-Effective Technologies
In the past, almost every profession closely related to visualization and simulation had to work within very specific limits. These limits both affected the time needed for project completion and project cots.
Take architects, for example. Not long ago, they only had one option when it came to visualization – cardboards. Making actual 3D models of architectural designs via cardboard was immensely time-consuming and expensive.
New and powerful computer processors and graphics cards paired with feature-rich 3D rendering software made things so much easier for engineers, architects, and designers. Creating a 3D model for a client today is significantly less expensive and can be done in a fraction of the time.
New Opportunities for the 3D Rendering Market
3D rendering market deliverables are 3D renders, visualizations, and simulations. If there is no market for these products, the industry will suffer. Fortunately, the new era has created thousands of new opportunities for 3D rendering artists and companies.
Their services are now in demand across verticals, including design, architecture, movie production, Virtual Reality, the gaming industry, and so on.
Let’s not forget the marketing industry. Modern consumers are becoming more damning day after day, and marketers have to deliver photorealistic renders for the products they advertise. The demand for 3D rendering and visualization services branches through all verticals, ensuring exponential growth of the 3D rendering market in North America.
The clients are also becoming more aware of the quality of deliverables. For instance, 4K resolution is becoming standard across industries. Fortunately, the new hardware and software allow 3D artists to generate 4K renders with ease.
Not to mention the education vertical, which is also creating a demand for 3D rendering services. The healthcare sector is the leader in this niche. Medical schools and hospital centers are starting to use 3D rendering software and visualization aids to provide the next level of training and education.
North America At the Top of The Market
North America was at the top of the 3D rendering market starting in 2016. The current projections tell us that Nort America will continue to dominate the market all the way to 2025.
Fortunately for North America, most of the prominent players in the 3D rendering industry are based in this region of the world. Some of these names include The Foundry Visionmongers Ltd., Corel Corporation, Trimble, CHaos Software, Luxion Inc., Adobe Systems Incorporated, Sessault Systemes, and Autodesk, Inc.
There is another fact that explains the huge 3D rendering and visualization market share of North America – the adoption of software tools. Grand View Research Inc., clearly states in its report that North America is the number one region when it comes to the rate of adoption of visualization and 3D rendering software. One of the main reasons for this is the presence of reliable wireless connectivity.
The growth of the regional 3D rendering market can be explained by the adoption across lucrative verticals:
● Media & entertainment
The Sift in R&D Spending
We previously mentioned that major players in the 3D rendering software field play a vital role in the growth of 3D rendering marketing in North America.
They have recognized their prominent role in the field and decided to enhance their already user-friendly, cost-effective, and creative solutions. In the past three years, we could see a major shift in research and development spending in these companies.
By trying to gain a strategic advantage over other competitors in the 3D rendering software industry, they have enabled the 3D rendering artists and companies to do so as well, via even more cost-efficient solutions.
We could also see some very interesting mergers and acquisitions in the market strategically executed for better traction. In 2016, Next Limit Technologies reached an agreement with Dassault Systemes.
They handed over Next Limit Dynamics division, which was in charge of the development of fluid flow simulation technologies for high-tech, energy, transportation, mobility, aerospace, and defense industries.
Progress is also being made in the field of cloud rendering solutions. In 2017, Autodesk and Microsoft Azure came together to offer a scalable and affordable cloud-based rendering solution to companies.
As you can see, there are a lot of factors that have contributed to this development, including improved connectivity and access to cost-effective and easy-to-use tools. To summarize, the 3D rendering market is expected to grow to $5.63 billion by 2025 at a 22.5% Compound Growth Rate. North America will continue to dominate the market with the largest market share among all other geo regions.