3D Rendering Staying Ahead of the Curve

1. Market Research Services WHITEPAPER 3D Rendering Staying ahead of the curve

2. 3D Rendering: Staying ahead of the curve 1. 3D Rendering: Staying ahead of the curve This is no surprise that 3D rendering solutions & services are revolutionizing the landscape of the design industry. The growing uptake of 3D rendering in applications is supplementing the demand of 3D rendering products and services. Product design & modeling and visualization are some of the leading applications of these services where designers and planners are widely seen showing a lifelike view of the project to their clients. A more participatory and efficient design and project management process is made possible by the versatility of 3D architectural visualization. Professionals can now correctly imagine their own or their clients’ designs thanks to advancements in 3D rendering design, which fosters an immediate sense of connection during the planning stages. This enables the client and the designer to head off communication issues at the pass. For instance, 3D rendering services ensure that there is no longer a need to panic if the client failed to explain an idea clearly or the architect misinterpreted a crucial design concept. The driving popularity among industries & applications is resulting in notable growth of 3D rendering in coming years. It is likely to grow at a rate of more than 20% by 2030, as reported by Global Market Insights, Inc. Real-time rendering duplicates images on a computer so that users can interact with a continuous digital world. Real-time rendering, for instance, is used by game engines like Unreal to expedite the generation of final pixels and the creative process. The decision- making powers of many businesses are also improved by 3D rendering services. For instance, Solidthinking Inc. has published a new version of EvolveTM that includes special features such a streamlined workflow and user interface, enhanced comprehensive modelling interaction, interactive photorealistic rendering, and expanded format and language compatibility. Also, the real estate and construction sectors have seen a rise in the demand for real-time rendering, offering the sector tremendous opportunity for growth. As analyzed, some of the top-notch players operating in the 3D rendering industry are increasingly taking initiatives to sustain and stay ahead in the competitive world. For instance, Autodesk, Inc. offers 3ds Max software, a new version featured with retopology tools, smart extrude, OSL support, and integrated Arnold renderer. This ensures optimized visualization of high- quality architectural renderings and works faster with an artist-friendly user experience. Other companies are equally consistent in mergers & partnerships, and upgrading their software in existing products. 1.1 Strategic initiatives by companies: In October 2022, Adobe, one of the leading 3D rendering services companies, updated its Substance 3D software in order to offer superior metaverse experiences. Adobe Substance 3D applications allow users to design and render 3D sceneries as well as create, capture, and texture 3D assets. In August 2022, one of the leading image rendering service companies, Chaos Software, launched V-Ray 6 for Maya. This product is featured with next generation render analytics, and procedural clouds. This has helped the organization flourish its business reach. Due to the COVID-19 pandemic’s rigorous lockdowns and social segregation standards, which encouraged business owners to digitize their processes and lead to significant 3D visualization penetration in a variety of applications, the industry saw various potential opportunities. The global 3D rendering market is anticipated to reach more than USD 30 billion by 2032, as projected by Global Market Insights Inc. The market dynamics have benefited from the expanding use of 3D printed medical equipment. In the real estate industry, builders and architects also adopted contemporary technologies to maintain client relationships by providing 3D generated representations of projects. For instance, architectural rendering has grown in popularity among construction organizations due to its increased marketing and e-commerce reach as well as the removal of the requirement for in-person customer meetings. 2

3. 3D Rendering: Staying ahead of the curve 1.2 Adoption of 3D rendering solutions & services across industries It has been witnessed that 3D rendering solutions & services are widely adopted across all industries, from healthcare to construction to agriculture among others. As published by Grand View Research, Inc., the healthcare industry is anticipated to grow at a notable CAGR in coming years. Software for 3D rendering and visualisation helps with staff education and training. Seeing anatomical images with the use of the programme enhances surgery planning, diagnoses, and results. It also makes it possible for the patient’s family to securely communicate with one another on the patient’s status. Similarly, in terms of revenue, the global industry was dominated by the architectural, engineering, and building sector. The real estate and construction sectors are increasingly using this software to show their projects to clients in order to boost profits and market value, which is driving the market’s expansion. Throughout the anticipated years, the segment is predicted to maintain its dominance of the market. Due to the realistic experience that visualization, simulation, and animation enable; the media & entertainment category is expected to hold a significant share of the market over the forecast period. 1.3 Performance of rendering solutions around regions As per Grand View Research, North America is one of the largest and most prominent regions adopting 3D rendering products & services due to presence of numerous players in the region. Due to the availability of dependable wireless connectivity, it is projected that the usage of visualisation and 3D rendering software will increase in the region. Early adoption of cutting-edge technology across a variety of industries, including gaming, media & entertainment, architecture, engineering, and construction, has positively impacted the expansion of the regional market. Due to an increase in investments in animation and graphics solutions across a variety of end user industries, including real estate and construction, media and entertainment, and healthcare, Asia-Pacific is predicted to have considerable growth over the projection period. Also, the increasing urbanization and expansion of the real estate industry in developing nations like China, South Korea, and India is anticipated to drive the visualization and 3D rendering market throughout the course of the projected period. The need to have cost-effective yet holistic solutions is enabling designers to manage expectations and fulfil all project specifications, ensuring more customer engagement. Physical artwork and plans can accomplish this, but they fall well short of the level of modern 3D lifelike architectural depiction. Hence, this is the most innovative aspect of modern 3D rendering design. 3

4. 3D Rendering: Staying ahead of the curve About the Author SMRITI LOOMBA • Senior Analyst - Corporate Research Smriti Loomba, an MBA graduate, has a rich experience of nearly 7 years in secondary research, primary research, and report writing. She has worked on multiple technology projects, covering Artificial Intelligence (AI), Blockchain, Machine Learning (ML), and Big Data, among others. She helps clients grow their businesses by providing them with industry insights, growth opportunities, Go-To- Market (GTM) strategies, and marketing techniques. Disclaimer This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by SG Analytics (SGA) and is not intended to represent or get commercially benefited from it or imply the existence of an association between SGA and the lawful owners of such trademarks. Information regarding third-party products, services, and organizations was obtained from publicly available sources, and SGA cannot confirm the accuracy or reliability of such sources or information. Its inclusion does not imply an endorsement by or of any third party. Copyright © 2023 SG Analytics Pvt. Ltd. www.sganalytics.com GET IN TOUCH Pune | Hyderabad | Bengaluru | London | Zurich | New York | San Francisco | Toronto | Amsterdam 4