Global 3D Imaging Market was valued at USD 014.8 billion in 2019 which is expected to reach USD 40.75 billion by 2027 at a CAGR 22.5%.
3D imaging technology is defined as projecting a 3D image on 2D surface with the help of optical illusion of depth in an image. This technology is highly growing in various industries such as entertainment, manufacturing, security, defense, construction, manufacturing, healthcare, pharmaceutical, and design. 3 Dimensional imaging is used in 3D rendering, 3D modeling, 3D scanning, gesture recognition, and others.
Information and communication technologies will go through a continuous evolution due to dependence on hi-speed Internet and availability of smartphones and other smart devices. The information and communication technology (ICT) sector is likely to forge ahead due to continuous investments for developing networking technologies and software. Large rate of employment, as well as its role in hiking up the GDP of countries, is an indicator of its success. The high rate of chip manufacturing combined with the presence of branches of software conglomerates in various countries, can augur favorably for the sector.
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The growth in the 3D imaging market is fueled largely by the need for high-resolution visualization for demanding applications. 3D Imaging has become mainstream technology for 3D graphics over the past few years, as it plays a vital role in applications such as medical imaging, architecture and engineering designing, gaming, and others. Through 3D imaging technology, a user can create a perception of depth on an object or a 3D model for quickly transitioning between conceptual design to real implementations, by real-time measurements of volume, distance, angle and profile.
Although 3D imaging has transformed image visualization and designing industry with myriad benefits and capabilities, high cost of the 3D imaging hardware devices such as 3D scanners, 3d cameras, 3D displays is posing as a big challenge. The prices of the 3D scanners various largely with the type of applications they are used for, which ranges from less than $1,000 to more than $25,000. Hence, this high cost of 3D imaging products is hindering the market growth up-to certain extent.
The growth in the 3D imaging market is fueled by increasing demand from emerging countries such as China, India, South-east Asia, GCC countries and others. These countries are rapidly transforming in terms of technology adoption, which would further drive the market growth. China and India both have high presence of demanding industries such as gaming, healthcare, manufacturing, aerospace and defense, which are prime end-users of 3D imaging hardware and design solutions for wide applications such as 3D modeling, scanning, rendering, animations and others.
Impact of COVID 19 on Market
The early half of 2020 witnessed the rapid spread of COVID 19 across the world. The number of COVID 19 patients is rising exponentially and has led the slowdown in market across the globe. Many governments have taken severe initiatives like lockdown self quarantine and social distancing which is expected to declining the production and manufacturing as well as supply chain of products. Due to this lockdown shortage of workers is experienced by industries which are expected to hamper the various sectors like automotive, electrical etc. Also, existing COVID 19 pandemic will inspire the healthcare and pharmaceutical vendors to improve their research and development investments in Artificial Intelligence.
Market Key Players
The report has presented a synopsis of the market players leading the global 3D Imaging Market. Porter’s five forces model has been used here to analyze the performance of each key player under different parameters.
Various key players are discussed in this report such as Adobe, Google, Philips, Faro, Trimble, Sony, Panasonic, Stmicroelectronics, Autodesk, and Ge Healthcare.
By Product Type
- 3D Cameras
- 3D scanning
- 3D Modeling
- 3D Rendering
- Layout and Animation
- Image Reconstruction
By End Use
- Architecture & Engineering
- Industrial Applications
- Security and Surveillance
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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