North America Covers Significant Share of 3d Mapping and Modeling Market
Drivers and restraints of 3d mapping and modeling market
The growing technological advancement in 3D
devices like 3D scanner and 3D sensors owing to the rise in R&D funding has
led to the improvement in the 3D mapping and modeling process which, in turn,
is augmenting the market growth. Other factors including the rise in 3D content
coupled with the growing demand for 3D models in the media and entertainment
industry are increasing the 3D mapping
and modeling market size. The growing purchasing power of consumers is
driving the demand for 3D-enabled and 3D-supporting devices like smartphones,
tablets, and other mobile devices further spurring up the demand for the 3D
mapping and modeling solutions. Aging population and increase in chronic
diseases patients escalate the demand for such solutions in the healthcare
industry as the technology assists in the surgical process by mapping human
anatomy. However, the need for high initial investment will hamper the market
growth during the forecast period. Expanding 3D mapping and modeling
applications in various industries such as healthcare, entertainment,
automotive, retail, construction aerospace, and manufacturing among others is
expected to propel its demand over the projected period.
Market Segmentation
By industry, global 3D mapping and modeling
market is segmented as healthcare, aerospace and defense, media and
entertainment, retail, construction, automotive, manufacturing, and others. The
construction industry accounted for the largest market share, in terms of
value, in 2017, followed by media and entertainment. The dominance of the
construction industry is majorly attributed to the rising use of 3D maps and
models for visualizing construction models and sites before initiating the
construction process. Expanding urbanization, rising pressure on existing
infrastructure, and environmental concerns are driving the convergence of
geospatial and 3D technologies across the industry. Per the International
Energy Agency (IEA), there will be spending of around $45 trillion for
mitigating the effects of climate change over the next 40 years. The
construction of smart cities in developing countries will require 3D scanners
with intelligent data models and data integration tools to model and design
these cities efficiently. Technological advancements are further driving the
use of 3D mapping and modeling in the construction industry. The growing use of
drones to manage, measure, and communicate site progress will bolster the 3D mapping and modeling market growth
in the coming years.
Geographical Analysis
Geographically, global 3D mapping and
modeling market is segmented into North America, South America, Europe, Middle
East and Africa, and Asia Pacific regions. North America accounted for the
largest market share of the global 3D mapping and modeling market share
due to the early adoption of technology by various end-use industries in the
region. The presence of a large number of global players coupled with a high
investment in R&D will drive the demand for 3D mapping and modeling
solutions in the region till the end of the forecast period. European 3D
Mapping and the Modelling market will also witness a considerable growth between
2017 and 2023 owing to a booming automotive industry in the region that uses
the technology for the assembly line and the prototype. Autodesk software for
digital manufacturing designs and manufactures cars and equipment with tools
created for automotive manufacturers and suppliers.
EMEA market for 3D mapping and modeling
will also witness significant growth between 2017 and 2023. Recently in
February 2017, Israeli startup Pixtier has designed a software program that can
automatically transform a series of 2D aerial photos taken by drones into
accurate 3D digital maps which, then can be used in urban planning, homeland
security, reality tours, and even autonomous vehicles.
However, APAC is projected to witness the
fastest regional market growth during the forecast period. The growing
construction industry and booming infrastructural development in emerging
economies such as China and India will drive the demand for 3D mapping and
modeling solutions. The construction of Yinchuan as the most high-tech smart
city in China will provide great potential for 3D mapping and modeling solution
providers to gain a larger market share. Likewise, India’s Smart City Plan
coupled with increased FDI and high investment by the government in this
project will further drive the market growth in the coming years.
According to industry research conducted by Knowledge Sourcing Intelligence,
major industry players profiled as part of the report are MAXON Computer,
Autodesk Inc., The Foundry Visionmongers, and Apple Inc. among others.
Key
Questions Answered in This Report:
·
What are the key regions having
a significant market share of the market?
·
What are the drivers and
restraints of the market?
·
Who are the key market players
in the market?
·
Who are the end-users of the
market?
·
What is market segmentation of 3D
mapping and modeling market?
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