According to a recent report published by Allied Market Research, titled, " 3D Rendering Services Market by Service Type, End User, and Project Type: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global 3D Rendering Services market was valued at $8.56 billion in 2018, and is projected to reach $61.65 billion by 2026, growing at a CAGR of 28.10% from 2019 to 2026.
3D rendering is the process of digitally creating or recreating a location or scene in three dimensions. It is a 2-dimensional representation of a computer wireframe model that has been given properties such as texture, color, and material. 3D rendering service allows visualizing the original design idea or future projects. Its primary goal is to deliver a 3D model of different projects to give a detailed overview of the construction to the clients. Numerous benefits associated with 3D rendering service, such as availability of software & infrastructure, cost-effective pricing, superior quality and superior technical resources, are the lucrative factors that boost the growth of the 3D Rendering Services Market.
By service type, the floor plan segment dominated the 3D Rendering Services Market in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in providing a detailed overview of the construction by delivering valuable insights about convenience, space and functionality to the customers. Furthermore, the walkthrough and animation segment is expected to grow at a significant CAGR during the forecast period, owing to increase in adoption of these services in architectural industries for providing different uses such as sanctions, technical quest, presentation purposes, and others, to the customers.
The commercial projects are expected to garner significant global 3D Rendering Services Market share. The major factors driving the adoption of 3D rendering service in this sector include increase in adoption of 3D rendering service by the organizations for increasing the value of their products for the customer. However, the residential projects are expected to grow at the highest rate during the forecast period, owing to increase in real-time rendering for getting photorealistic results of the building and rise in demand by the customers to have a quality 3D image.
By region, the global 3D Rendering Services Market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factor driving the growth of the market in this region include increase in the construction spending for non-residential buildings in this region.. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to rise of high definition 3D viewing experience and increase in demand from the construction and numerous other sectors.
Key Findings of the 3D Rendering Services Market :
- Based on service type, the floor plan led the 3D Rendering Services Market size in terms of revenue in 2018.
- By end user, the real estate companies accounted for the highest 3D rendering services market share in 2018.
- Based on region, North America generated the highest revenue in 2018.
The key players profiled in the global 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.