3D Imaging Software Market - Forecasts from 2018 to 2023
3D Imaging Software market is projected to grow at a CAGR of 30.03% during the forecast period to grow to US$22.021 billion by 2022, increasing from US$5.925 billion in 2017. Rising adoption of 3D imaging solutions across various industry verticals such as heavy engineering, defense, media and entertainment, and healthcare among others is driving the 3D imaging software market worldwide. Booming global automobile as well as the construction industry is augmenting the need for 3D imaging solutions for modeling, designing, rectifying, and reviewing the final versions of end products. Increasing sales of smartphones, cameras, computers, and smart TVs is further boosting the demand for these software solutions owing to the commercialization of 3D imaging for consumer electronic products. Growing global gaming population and rising demand for virtual reality games will require advanced 3D imaging software to provide an enhanced gaming experience to users. Rising biometric applications coupled with the development of 3D face recognition and fingerprint scanners owing to high-security threats will bolster the growth of 3D imaging software market in the coming years.
By End-User Industry
Healthcare industry segment of the global 3D imaging software market is expected to hold a considerable share by the end of forecasted period. The rising spending in healthcare R&D coupled with the need for accurate test diagnosis is expected to boost the adoption of 3D Imaging solutions in this sector. However, the media and entertainment sector is expected to grow at a high rate over the projected period. The inclination towards high-resolution images and videos coupled with advancement in technology and the emergence of 4D technologies is significantly contributing to this segment's growth.
Americas dominated the 3D imaging software market in 2016 owing to the early adoption of 3D imaging technology across different growing industry verticals, especially for automotive and industrial automation applications. Europe Middle East and Africa region will also witness a significant market growth due to increasing purchasing power of people demanding advanced consumer electronics products. Moreover, rising healthcare expenditure in Europe along with the technological advancements in 3D volumetric reconstruction software will accelerate the 3D imaging software adoption in the region. However, APAC is projected to witness the fastest growth during the forecast period owing to growing network connectivity and internet penetration, and adoption of 3D technologies across various verticals such as media and entertainment and healthcare.
The global market for 3D imaging software features a large number of players operating in a highly competitive market. The favourable industry regulations and high market growth are further attracting new players in the market while enhancing the competitive rivalry. The major players discussed in the report include NVIDIA, Chaos Group, Autodesk, Solid Iris Technologies, Lumion, Dassault Systemes, and Next Limit Technologies. The key players are focusing on expansion, merger and acquisition, product launches, and joint ventures as their business strategies in order to sustain in this competitive market and boost their market share.
3D imaging software market has been segmented by mode of deployment, type, application, end-user, and geography as below:
By Mode of Deployment
Layout and Animation
Architectural and Product Visualization
High-End Video Games
Marketing and Advertisement
Media and Entertainment
Building and Construction
Europe Middle East and Africa
Middle East and Africa
SOLID IRIS TECHNOLOGIES
NEXT LIMIT TECHNOLOGIES