New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rendering And Simulation Software Global Market Report 2023" - https://www.reportlinker.com/p06479849/?utm_source=GNW
, Altium Ltd., Hexagon AB, Altair Engineering Inc., ESI Group, ZWCAD Software Co. Ltd., Suzhou Gstarsoft Co. Ltd., NextLimit Technologies, Solid Angle S.L., Lumion, Advent Software Inc., Chaos Group, and Robert McNeel and Associates.
The global rendering and simulation software market is expected to grow from $23.41 billion in 2022 to $25.46 billion in 2023 at a compound annual growth rate (CAGR) of 8.78%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $35.38 billion in 2027 at a CAGR of 8.57%.
The rendering and simulation software market consists of sales of real-time rendering and pre-rendering software.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Rendering software refers to automatic image synthesis software that generates photorealistic or non-photorealistic images using a computer program from a 2D or 3D model.These images simulate projects’ or 3D models’ photorealistic environments, lights, materials, and objects.
A software simulation allows the demonstration of its key functions and operations represented by a mathematical model.
North America was the largest region in the rendering and simulation software market in 2022. The regions covered in the rendering and simulation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types in rendering and simulation software are CAD software, CAM software, CAE software and others.Computer-aided design (CAD) software is a three-dimensional design tool that develops 2 and 3-dimensional models using computer systems, assisting in the creation, analysis, modification, and optimization of a design.
These are stand-alone and plugin that are used in machine manufacturing industry, automotive industry, shipbuilding industry, aerospace and defense industry and others.
The increase in the adoption of simulation in the aerospace and defense sector is expected to propel the growth of the rendering and simulation software market going forward.The aerospace and defense industry refers to a group of companies that develop and manufacture spacecraft and aircraft for military aircraft, tanks, commercial aircraft missiles, and other weapon-related equipment.
The adoption of simulation software by aerospace and defense provides the means to overcome electrification optimization and help to reduce the physical testing cost, development time, and risk of not meeting certification requirements.Therefore, the increase in the adoption of simulation in the aerospace and defense sector is driving the growth of the rendering and simulation software market.
For instance, in 2021, according to Indian Military Review, an Indian defense monthly magazine, the global military simulation, and virtual training market is projected to reach $15.12 billion by 2026 at a CAGR of around 4.0%. Therefore, the increase in the adoption of simulation in the aerospace and defense sectors is driving the growth of the rendering and simulation software market.
Product innovations are a key trend gaining popularity in the rendering and simulation software market.Major companies operating in the rendering and simulation software market are focused on developing new solutions to sustain their position in the market.
In July 2020, Arvizio, a Canada-based software company that provides augmented and mixed reality software solutions, launched GPU-accelerated hybrid rendering AR (augmented reality) solutions for LIDAR (light detection and ranging), BIM (building information modeling), and CAD (computer-aided design) models.This allows participants to stream complex 3D models and LIDAR scans on mobile augmented reality devices.
It can stream industrial-scale models to tablets, mobile devices, and augmented reality headsets through a combination of dynamic level of detail processing and GPU (graphics processing unit)-accelerated rendering. This solution can be deployed on a laptop, edge computing server, or cloud-based server that allows 3D visualization in situations where Internet connectivity may be limited.
In September 2022, Tech Soft 3D, a US-based software company that provides engineering software development toolkits, acquired Redway3D for an undisclosed amount.Through this acquisition, Tech Soft 3D expanded its visualization portfolio by providing photo-realistic and advanced real-time rendering capabilities.
The acquisition fueled the growth by scaling the company’s global reach, investing in product development, and increasing its product offerings. Redway3D is a France-based software company that provides graphics technology for 2D and 3D rendering.
The countries covered in the rendering and simulation software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The rendering and simulation software market research report is one of a series of new reports that provides rendering and simulation software market statistics, including rendering and simulation software industry global market size, regional shares, competitors with a rendering and simulation software market share, detailed rendering and simulation software market segments, market trends, and opportunities, and any further data you may need to thrive in the rendering and simulation software industry. This rendering and simulation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479849/?utm_source=GNW
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