Knowledge Sourcing Intelligence announces the publication of a new report on “3D mapping and modeling Market – Forecasts from 2019 to 2024" to their offering.
The use of 3D technology in varied areas involving engineering, architecture, film, and entertainment is driving the growth of the global 3D mapping and modeling market in the forecast period.
This report provides forecast and analysis of the 3D mapping and modeling market which is estimated to hold a market value of US$20.716 billion by the end of 2024 from a market size of US$7.022 billion with a high CAGR of 19.76%.
The market for 3D mapping and modeling is expected to grow during the forecast period owing to continuous technological advancements in 3D devices such as a 3D scanner among others. Also, with the increasing investments in R&D for the improvement of 3D mapping and modeling processes, the market is expected to surge with the increase in demand. The growing media and entertainment industry is further propelling the market growth in the forecast period with the growing demand for 3D models.
Furthermore, the growing purchasing power of the consumers worldwide led to wide adoption of 3D-enabled devices which include mobile devices like smartphones, tablets, and others, fueling the market demand. In the healthcare sector, the demand for 3D mapping and modeling is rising with the surging demand for mapping human anatomy, providing help in surgical procedures. The growing geriatric population and the prevalence of chronic diseases are augmenting the market demand in the healthcare domain.
The growing construction industry is driving the growth of the global 3D Mapping and Modeling Market, on the basis of end-use industry, holding a significant market share. The driving factors for this growth is due to rapid urbanization leading to the utilization of 3D maps and models in order to visualize the real-life scenario to be required in urban planning and development and various construction processes.
On the basis of geography, North America is expected to hold a significant market share followed by the European region owing to the early adoption of technology and innovations, in addition to the presence of large key global market players. While the Asia Pacific region is predicted to be the fastest-growing market.
The 3D mapping and modeling market in the APAC region is expected to boom with the increasing construction industry, and escalating infrastructure development especially in India and China. The growing construction sector is attributed to the development of smart cities where 3D mapping and modeling hold high growth potential along with high government support for the building of smart cities coupled with increased inflow of foreign direct investment.
Some of the major players covered as part of the report are Autodesk Inc., Orbit GeoSpatial Technologies NV, and 3D Coat.
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This report segmented the 3D mapping and modeling market on the basis following terms:
- 3D Mapping
- 3D Modeling
By End-Use Industry
- Aerospace and Defense
- Media and Entertainment
Middle East and Africa
- Saudi Arabia
- North America