3D Rendering Market Trends

Growth Drivers

• Technological advancements- Digital transformation and emerging technologies like 3D printing, artificial intelligence, machine learning, virtual reality, augmented reality, and metaverse are expected to impact the 3D rendering market growth in the future years. These new technologies improve user experience and 3D rendering and visualization software potential.
  
  In March 2024, Stratasys Ltd., a pioneer in polymer 3D printing technologies, stated that it aims to supply 3D-printed materials for a lunar trip to verify their performance as a part of Aegis Aerospace, Inc.'s first Space Science & Technology Evaluation Facility mission. Aegis Aerospace in Houston, Texas developed SSTEF under NASA's Tipping Point program to support lunar R&D. SSTEF-1 develops space infrastructure and moon and near-earth space capabilities. Northrop Grumman Corporation funds Stratasys experiments. Therefore, such technical breakthroughs are expected to propel market applications during the forecast period.
• Increasing interest in gaming and videography- The 3D rendering industry is growing due to gaming and videography demands. These businesses are using 3D rendering software to produce immersive games and lifelike movie effects.
  
  According to the Entertainment Software Association (ESA), around 227 million Americans engaged in playing games in 2022. Around two-thirds of adults and about three-quarters of youngsters under 18 plays electronic games every week. Of all ages, 80% of gamers are above 18, and the typical video game player is 31, with many playing consistently. These innovative games and video graphics are driving the 3D rendering market growth.
• Improved innovations with AI & ML- The 3D rendering sector is being transformed by machine learning and artificial intelligence, improving user experiences and rendering productivity. Users may create more realistic and attractive 3D renderings by using ML to cut down output preparation time and effort. PrintWatch, launched by U.S.-based company Printpal in February 2022, shows how AI may be used in 3D printer fault detection software. PrintWatch uses real-time monitoring to detect and fix printing problems, streamlining the printing process by reducing resource wastage and hardware damage. Hence, this effective usage of technology increases the 3D rendering industry's expansion.

Challenges

• Security and privacy concerns- The usage of pirated software is increasing in the 3D rendering sector since there is a rising trend of using unlicensed software. Consequently, this leads to monetary detriment and a reduction in the profit margin of crucial establishments. This factor ultimately serves as a challenge for the 3D Rendering industry.
• Lack of technical expertise- Additionally, there is a deficit of technical professionals available to provide assistance and expertise in the field of 3D rendering technology. Restricted adoption of 3D imaging solutions is mostly attributed to insufficient software training, lack of executive endorsement, and a scarcity of 3D imaging-compatible hardware such 3D displays. In addition to this, the 3D rendering business is hindered by a lack of flexibility to adjust to current infrastructure.