3D Mapping and 3D Modelling Market: Increasing Demand for 3D Solutions to Put North America at Forefront

The dominance of the majority of the leading players in the global 3D mapping and 3D modeling market can be attributed to their diverse product portfolio and continuous innovation and advancements in their product offerings. Some of the key players are targeting niche applications to obtain an edge over competitors, finds Transparency Market Research (TMR) in a new study. The leading players in the market are Autodesk Inc., Lightwave 3D, Pixologic Inc., 3D Coat, and The Foundry Ltd. “New players are expected to capitalize on immense growth opportunities offered by the flourishing growth of the end-user industries in emerging economies,” says TMR’s lead analyst.

Increasing Adoption of 3D Modelling to Plan Indoor Spaces to Boost Demand in Construction Industry

The global 3D mapping and 3D modeling market was valued at US$3.20 bn in 2015 and is anticipated to reach US$4.41 bn by the end of 2020, expanding at a CAGR of 6.4% from 2014 to 2020. Geographically, North America will continue to be the leading segment until 2020, representing 34.9% of the overall market revenue. The presence of a large number of key players and the increasing demand for 3D solutions provide a significant boost to the growth of the region. Asia Pacific will exhibit a CAGR of 6.9% during the same period.

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On the basis of end-user industry, the construction segment will continue to dominate the market until 2020, accounting for 27.4% of the overall market revenue. 3D mapping and 3D modelling are increasingly used by architects and builders as a cost and time effective solution for project planning. Interior decorators also use 3D mapping and 3D modeling to plan optimum indoor spaces. Owing to these factors, the segment is expected to rise at a CAGR of 8.0% during the forecast period.

Continuous Advancements in 3D Scanners and 3D Sensors to Bode Well for Market Growth

The 3D mapping and 3D modeling technology has evolved mainstream over the past few years. Devices used for 3D mapping and 3D modeling such as 3D scanners and 3D sensors find extensive application in industries such as entertainment, transportation, defense, healthcare, and construction. Therefore, technological advancements in these devices are likely to augur well for the growth of the market. Moreover, the increasing adoption of 3D mapping technology in multi-ray photogrammetry is augmenting the global 3D mapping and 3D modeling market. Furthermore, the rapid development of 3D geospatial techniques and convergence of tools such as geographical information system (GIS) and computer-aided design (CAD) are estimated to shape the future of the market.

Lack of Proper Format and Low Mapping Efficiency in Crowded Streets to Impede Market Growth

Despite the various advantages offered by 3D technology, a large number of end users are still using 2D software. The major concerns of companies operating in the market are software training and user productivity in terms of creating 3D maps and 3D models. Some other issues such as inadequate processor speeds and shortage of memory space are leading to slow regeneration time. Furthermore, with the existing technology, there is a difficulty in capturing images and locating mapping co-ordinates in highly crowded streets and densely populated areas. Until these technical issues are mitigated through research and development, they remain a significant challenge to the growth of the global 3D mapping and 3D modeling market.

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