3D Rendering Services Industry Growth
An increase in the adoption of cloud-based 3D Rendering Services among SMEs is anticipated to provide major opportunities for the market.
PORTLAND, PORTLAND, OR, UNITED STATE, March 22, 2023 /EINPresswire.com/ — According to the report, the global 3D rendering services market garnered $8.56 billion in 2018, and is expected to generate $61.65 billion by 2026, registering a CAGR of 28.1% from 2019 to 2026.
An increase in requirement for virtualized & real-time experience in designing and planning along with the rise in demand for real-time rendering and rapid decision-making capabilities drive the growth of the global 3D rendering services market.
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However, a lack of skilled professionals and security & privacy concerns hinder the market growth. On the other hand, the surge in the implementation of cloud-based 3D rendering services offers numerous opportunities in the coming years.
Based on end users, the architects’ segment contributed to the highest market share in 2018, contributing to more than one-fifth of the global 3D rendering services market, and is expected to maintain its dominance by 2026.
This is attributed to numerous applications such as 3D architectural visualization that have been utilized by architects to visualize the architectural structure before its real-world construction.
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However, the designers’ segment is expected to register the fastest CAGR of 39.0% during the forecast period, owing to the adoption of cloud-based 3D rendering designer services across the globe.
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 the increase in demand for quality 3D images.
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.
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Based on region, North America accounted for the major market share, accounting for nearly two-fifths of the total market share of the global 3D rendering services market in 2018, and is projected to maintain its highest contribution during the forecast period. This is attributed to rise in the construction of residential projects and government initiatives supporting the projects in this region.
However, the Asia-Pacific region is estimated to grow at a CAGR of 30.1% from 2019 to 2026. This is due to rapid urbanization and industrialization in emerging countries such as India and China.
The key players profiled in the 3D Rendering Services market analysis are RealSpace Vision Communication Inc., Mapsystems, Professional 3D Services, 3D Animation Services, Flatworld Solutions Pvt. Ltd., WinBizSolutions, Rayvat Rendering, XpressRendering, Tesla Outsourcing Services and CG Studio.
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