US: Research firm MarketsandMarkets has released a ‘Visualization and 3D Rendering Software Market’ report at its disposal. The report forecasts the growth from USD 1.06 billion in 2017 to USD 2.92 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.40% during the forecast period.
The report also shed light on marketing and user-friendly renderer interface that are some of the driving factors of the visualization and 3D rendering market. Architectural and product visualization to play a key role in the visualization and 3D rendering market by 2022.
Architectural and product visualization have the largest market share in the visualization and 3D rendering application market during the forecast period. Their market size is expected to grow as 3D product rendering helps in easy marketing, saves prototyping time and expense, and lets users see physical conditions of the product. Marketing and advertisement has the highest market growth rate during the forecast period.
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Among visualization and 3D rendering end-use industries, the academia is expected to grow at the highest rate as visualization and 3D rendering visuals help in understanding complex concepts, whereas healthcare and life sciences is projected to be the second fastest growing market segment during the forecast period.
The North American region is expected to contribute the largest market share in the visualization and 3D rendering market
North Americais expected to hold the largest market share in the visualization and 3D rendering market during the forecast period, as the visualization and 3D rendering enhance and increase the precision of organizational procedures so as to offer enriched products to end-users. The MEA region is expected to grow at the highest rate, as the region is experiencing the presence of creditable organizations that are gradually enabling the embracement of advance technologies.
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