NOVEMBERASIA BUSINESS OUTLOOK8The global visualization and 3D rendering software market growth is driven by surge in demand for gaming and videography, growing demand for 3D animation, technological advancements in AR and VR, rising demand for 3D content, and growth in 3D display devices, the growing adoption and integration of technologies such as artificial intelligence and machine learning in visualization and 3D rendering software to boost the accuracy of 3D content.Christie Digital Systems US, Dassault Systemes; NVIDIA CORPORATION; Chaos Group; Luxion; OTOY; Next Limit; Act-3D. (LUMION); and Thea Render by Altair are among the key players profiled during this market study. In addition, several other essential visualization and 3D rendering software market players were studied and analyzed to get a holistic view of the market and its ecosystem. In 2022, Autodesk announced the acquisition of Moxion, a New Zealand-based developer of a power, cloud-based platform for digital dailies used by the leading filmmaker.Jaguar Land Rover and NVIDIA announced that they are redefining modern luxury, infusing intelligence into the customer experience. It will also deliver AI features inside the vehicle, including driver and occupant monitoring and advanced visualization, leveraging the DRIVE IX software stack. The global visualization and 3D rendering software market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. North America led the market in 2020. The growth of the market in the region is attributed to a few factors such as favorable government policies and positive outlook toward the new technology adoption. Also, the presence of robust digital infrastructure and major market players propels the visualization and 3D rendering software market in North America. In terms of market size, Europe ranks second in the global visualization and 3D rendering software market.Europe has the presence of well-developed countries that favors the adoption and application of new technologies. Also, the existence of the manufacturing & construction industry increases the penetration of visualization and 3D rendering software in this region. The market in APAC is projected to witness an impressive growth rate during 2022­28. The region comprises developing economies, such as China, India, South Korea, and several Southeastern countries, along with developed economies, such as Australia and Japan. Further, APAC is characterized by vast industrialization and a large young population, which is inclined toward the adoption of new technology. The region is projected to generate the highest growth opportunities for market players owing to a major push by governments for developing the manufacturing & construction industry.Moreover, the increasing penetration of internet and connected devices has influenced ecommerce, which has subsequently propelled the growth of the logistics sector. Meanwhile, government initiatives related to the development of smart cities. India, Singapore, South Korea, Japan, China, and other countries across APAC are among the other factors expected to create opportunities for the visualization and 3D rendering software market players during the forecast period. Meanwhile, the visualization and 3D rendering software market in Middle East & Africa and South America would experience growth in the coming years owing to government initiatives toward the adoption of digital technologies. VISUALIZATION & 3D RENDERING SOFTWARE MARKET WORTH $7.43 BILLION WORLDWIDE TO CROSS 18.2 PERCENT CAGR BY 2028NEWSROOMJAGUAR LAND ROVER AND NVIDIA ANNOUNCED THAT THEY ARE REDEFINING MODERN LUXURY, INFUSING INTELLIGENCE INTO THE CUSTOMER EXPERIENCE
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