I have seen a growing trend recently in regard to the use of the word "renowned" to describe artists. My understanding of the word "renowned" is that it refers to being famous, widely celebrated and recognized and virtually a household name. Picasso, Matisse, and Chihuly are certainly renowned artists.
I came across a photographers website recently (not local) who referred to himself as renowned but in looking at his resume, he had been in zero juried shows, was not in any museum or other collections, had not won any awards on any level, had zero grants or publications and had done nothing to merit such a title. While I think as artists we all have to self promote our work, using such an extreme term which cannot be backed up with any support does not further a career. It could also cause the real art experts not to view you in a serious manner. If you look at the resumes of true renowned artists, they let their resume speak for them. If you have to advertise yourself as being famous, chances are, you are not.