Historically, the global design, editing and rendering software market, one of the segments in the information technology industry, grew at a compound annual growth rate (CAGR) of more than 6%. The growth is mainly due to increasing demand for 3D animation, government initiatives in software industry and increasing availability of 3D enabled devices.
The global design, editing and rendering software market size is expected to reach above $600 billion in 2021, growing at a CAGR of slightly above 2%. The decline in the forecast period, when compared to the historic period, is mainly due to several restraints in the design, editing and rendering software market which include shortage of technological knowledge, entry barriers and rising demand for open source software.
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The design, editing and rendering software industry is witnessing a new trend for 4D modeling visualization. Over a few years, researchers have been trying to add a fourth dimension of time and space to images, videos and films. For instance, in 2013, University of Colorado successfully developed 4D printing technology which significantly introduced future possibilities in the design and editing market. Similarly, in 2016, Sketchfab, a 3D modelling platform, collaborated with TimeSlice Films to host an interactive 4D model. The model was created by integrating individual 3D frames from 53 GoPro cameras. 4D modeling is expected to be the next breakthrough technology in the field of design, editing and rendering software.
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