3D Mapping and 3D Modeling Market: Market Scope and Size by Application

According to a new report by Transparency Market Research (TMR), the global 3D mapping and 3D modelling market has a largely consolidated competitive landscape. Autodesk, Inc, NewTek, Inc. (Lightwave3D), Blender Foundation, The Foundry, Pixologic, 3D-Coat, Apple, Inc, Incorporated are the top players in this market and collectively, they acquired nearly 75% of the overall market in 2013. For the highest market share the market accounting was dominated by Autodesk Inc in the year of 2013.

These leading market players are continuously putting efforts to strengthen their positions in the global market share through the establishment of upcoming animation and video games production facilities. 3D mapping and 3D modelling companies are predicted to involve actively in joint ventures and strategic business partnerships over the forecast period, which is likely to grow the competition in this market, states the research report.

As per the report, the opportunity in this market, which was US$2,916.8 mn in 2013, is anticipated to expand at a healthy 6.4% CAGR from 2014 to 2020, rising to a valuation of US$4416.5 mn by 2020.

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The report considers mapping and navigation, 3D projection mapping, construction, healthcare, automobiles and video gaming as the key application areas of 3D mapping and 3D modelling. Among these, the demand for advanced 3D models and maps is significantly high in the construction sector. According to the analysts, the scenario will remain consistent over the forecast period as well.

In terms of geography, the research report segments the worldwide market for 3D mapping and 3D modelling into North America, Europe and Asia Pacific. With a share of 36.5%, North America led the global market in 2013. Rising number of restructuring of ancient buildings, castles, forts, and visualization of future construction projects stimulate the market growth in the region. The rising use of 3D modelling and mapping solutions for applications such as high resolution 3D geospatial data, developing 3D city models, traffic control and disasters also influences the market growth in this region, which is expected to remain high throughout the forecast period.

The market is chiefly driven by the continuous demand for 3D mapping and 3D modelling in various industries such as advertising, defense, public safety, and retail. In creating topographies in combat areas, 3D maps are finding increasing usage. 3D projection mapping is largely utilized in the retail and advertising industries for a number of promotional activities.

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“Trends such as navigation and mapping by utilizing 3D mapping technologies in electronic devices are anticipated to lead to steady growth opportunities for the market,” states a research analyst at TMR. The rising population and the swift increase in urbanization and industrialization are resulting into a large number of construction projects. The market growth is also driven by this factor, as the consumers are highly concerned about visualizing the construction sites and models before starting of the actual process. In this way, development of connected infrastructure across the globe stimulates the market growth.

In addition to this, the shift in consumer preference from 2D mapping to advanced 3D models and maps is likely to boost the global market remarkably over the forecast period. However, 3D model related issues such as STL file format provides confusion about the object’s size, which may obstruct the market’s growth to an extent in the years to come.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.